Sri Lankan shares hit 13-week low

Sri Lankan shares fell for a fifth straight session on Wednesday to their lowest close in 13 weeks, led by losses in beverage and diversified stocks. The Colombo stock index fell 0.29 percent to 6,585.53, its lowest close since May 3. The bourse fell 1.6 percent in July, but had risen about 6 percent this year as of July 31 close. Shares of Lion Brewery Plc dropped 4.5 percent, while Ceylon Brewery Plc lost 9.43 percent. Cargils Ceylon Plc fell 2.2 percent and Nestle Lanka Plc fell 0.63 percent.
Turnover stood at 978.3 million rupees ($6.38 million), more than this year's daily average of around 893.3 million rupees. Private lender Sampath Bank Plc said it would issue one new share for every six existing shares. Foreign investors were net buyers of shares worth 753.9 million rupees on Wednesday, extending their year-to-date net inflow to 26.3 billion rupees.