CSE slips from over 3-week high on foreign selling

Reuters: Shares ended slightly weaker on Wednesday, snapping a five-session winning streak, on foreign selling.

However, the day’s turnover was Rs. 365.5 million ($ 2.25 million), much lower than this year’s daily average of Rs. 804.1 million.

The Colombo stock index ended 0.13% weaker at 6,120.29, slipping from its highest close since 13 August.

“Foreign selling in Keells brought the index down, but we see some positive signs of local buying,” said Softlogic Stockbrokers Deputy CEO Hussain Gani. Foreign investors sold a net Rs. 46.9 million of shares on Wednesday, extending the net outflow so far this year to Rs. 4.3 billion worth of shares.

John Keells Holdings fell 0.4%, while large cap Ceylon Tobacco Co. ended 1.8% weaker.