Sri Lanka's stock market edged down on Friday from its two-week high as retail investors booked profits after a two-day rally amid the resignation of the top capital markets regulator, and others awaited a clear trend. The island nation's main share index closed 0.92 or 56.81 points down at 6,087.86 from its highest since November 14.
On Thursday, SEC Chairperson Indrani Sugathadasa stepped down "to uphold her principles," barely a month after her deputy was moved amid broker complaints that tougher regulation was hurting sentiment. The day's turnover was 1.44 billion Sri Lanka rupees ($12.65 million), less than last year's average of 2.4 billion and this year's 2.4 billion.
Shares in retail favourite Touchwood Investment PLC fell 3.43 percent to 22.50 rupees while Entrust Securities Ltd fell 0.28 percent to 70.70 rupees. Market heavyweight John Keells Holdings PLC, which saw foreign selling of 114,100 shares, ended 1.00 percent weaker at 168.20 rupees.
Total volume was 83.7 million shares, against a five-day average of 90.6 million. The 30-day and 90-day average trading volumes were 61.2 million and 102.7 million. Last year's daily average was 67.9 million. On Friday, the bourse was in neutral territory with the 14-day relative strength index at 44.2, above the lower neutral range of 30. Gainers outnumbered losers by 159 to 44 on Friday, Thomson Reuters data showed.
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