Sri Lankan shares on Friday hit their lowest close in more than three weeks, as investors sold telecom shares and on concerns over rising interest rates. The Colombo stock index ended down 0.42 percent at 6,101.51, its lowest close since February 9. The bourse dropped 0.6 percent on the week, in its second straight weekly decline. Foreign investors were net buyers of 70.8 million Sri Lankan rupees ($468,563.86) worth of shares, extending the year-to-date net foreign inflow to 963.03 million rupees worth of equities.
Turnover was 1.21 billion rupees, the highest since February 28 and nearly double this year's daily average of 679.4 million rupees. Conglomerate John Keells Holdings Plc, which accounted for 72.5 percent of the day's turnover on block trade, ended steady.
Sri Lanka Telecom Plc slid 5.44 percent, while Dialog Axiata Plc declined 3.48 percent.