Sri Lankan shares fell for a fifth straight session on Tuesday to their eight-month closing low, led by diversified and telecommunications stocks on worries earnings of financial firms would fall after the new budget proposals announced were implemented. The main stock index ended 0.2 percent, or 13.96 points, weaker at 6,895.19, its lowest close since March 31.
The index closed just above its oversold territory with the 14-day Relative Strength Index at 30.676 versus Monday's 32.095, Reuters data showed. A level of 30 or below indicates the market is oversold. Shares of Carson Cumberbatch Plc fell 2.61 percent, while Dialog Axiata Plc dropped 1.87 percent. Turnover was 509.2 million rupees ($3.56 million), half of this year's daily average of 1.1 billion rupees.
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