Sri Lankan shares fell for a fourth straight session on Friday to hit a more than one-week closing low on profit-booking in blue chip stocks. The Colombo Stock Index ended 0.35 percent weaker at 6,473.62, its lowest close since January 4. Turnover stood at 968.3 million rupees ($6.29 million) on Friday, more than last year's daily average of 915.3 million rupees.
Foreign investors net bought shares worth 77.4 million rupees on Friday, extending the net foreign inflow in this year to 2.33 billion rupees. They had net bought 18.5 billion rupees worth equities in 2017 and 633.5 million rupees in 2016.
"Market is consolidating with some profit-taking in blue chip shares. Continued foreign buying is a positive sign," said Hussain Gani, Deputy CEO at Softlogic Stockbrokers. Shares in conglomerate John Keells Holdings Plc ended 2.7 percent down, while biggest listed lender Commercial Bank of Ceylon Plc dropped 0.5 percent and Hatton National Bank Plc ended 0.8 percent weaker. Sri Lanka will hold a long-delayed local government election on February 10.
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