Sri Lankan shares fell for a fifth straight session on Friday and posted their lowest close in five weeks, as rising interest rates and lack of new catalysts dented investor sentiment. The benchmark Colombo stock index ended 0.07 percent, or 4.61 points, weaker at 6,519.23, its lowest close since April 29. It declined 0.8 percent this week, its third straight weekly fall after gaining for six consecutive weeks.
Treasury bill yields rose between 4 and 35 basis points to near three-year highs in the two weekly auctions through Wednesday despite the central bank leaving key policy rates steady for a third straight month on May 20. Turnover stood at 739.8 million rupees, just below this year's daily average of around 791 million rupees. Shares of Sri Lanka Telecom Plc dropped 3.51 percent, while those of Ceylinco Insurance Plc fell 0.39 percent.