Sri Lankan shares fell for a fifth straight session on Friday to end at their lowest level in nearly 1-1/2 years, led by declines in diversified and banking shares. Fears over investors shifting to risk-free assets such as government securities due to rising yields in government securities dented sentiment. The main stock index ended 0.72 percent down at 6,726.28, the lowest close since July 18, 2014. It fell 2.44 percent this week.
The day's turnover was at 487.72 million rupees ($3.4 million), its lowest since December 31. Shares in Distillers Company of Sri Lanka Plc fell 4.16 percent, while Carson Cumberbatch Plc lost 2.86 percent, dragging the overall index. Conglomerate John Keells Holdings Plc fell 0.46 percent. Foreign investors were net buyers for the fist time in five sessions on Friday. They bought a net 17.15 million rupees ($119,263) worth of equities on Friday. But the foreign investors have been net sellers for 1.54 billion rupees worth of equities so far this year, as compared with 4.43 billion rupees outflow in 2015.
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