May 2, 2017 / 12:30 PM / 9 months ago

Sri Lankan shares end flat; foreign investors turn sellers

COLOMBO, May 2 (Reuters) - Sri Lankan shares were largely unchanged in thin trading, near an 11-month high on Tuesday, as foreign investors turned net sellers for the first time in 26 sessions while blue chips saw profit-booking after a prolonged rise.

Foreign investors net sold shares worth 29.8 million rupees on Tuesday, but remained net buyers of equities to the tune of 16.4 billion rupees so far this year.

Meanwhile, blue chip shares such as John Keells Holdings Plc , down 0.37 percent, and Commercial Bank of Ceylon Plc , down 0.62 percent, witnessed profit-booking.

The Colombo stock index ended 0.03 percent weaker at 6,608.16, slipping from its highest close since May 20 hit on Friday.

“Short-term profit-taking was there today,” said Dimantha Mathew, head of research, First Capital Holdings PLC.

“The market will continue to be bullish, but will see some profit-taking. The good thing is that we are seeing local investors coming back into the market.”

Turnover stood at 471.5 million rupees ($3.10 million), nearly half of this year’s daily average of 902 million rupees. ($1 = 151.9000 Sri Lankan rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Vyas Mohan)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below