Reuters – Sri Lankan shares fell on Wednesday to a one-month closing low, marking their sixth losing session in seven, led by the decline in Chevron Lubricants Lanka after it reported a drop in the June-quarter earnings.
Chevron Lubricants stock lost 6.3 percent on Wednesday after the company reported a 34 percent fall in its second-quarter profit.
The Colombo stock index ended 0.59 percent lower at 6,695.23, its lowest since June 16, marking a third straight losing session.
“There was selling pressure after the Chevron Lubricants’ earnings. Some other blue chips also were under selling pressure,” said Dimantha Mathew, head of research, First Capital Holdings.
However, foreign investors continued to buy stocks. They were net buyers of shares worth 113.5 million rupees ($738,932)on Tuesday, extending the year-to-date net foreign inflow to 24.4 billion rupees worth of equities.
Turnover was 781.6 million rupees, less than this year’s daily average of 912.8 million rupees.
Shares of conglomerate Hemas Holdings fell 3.6 percent, while telecom company Dialog Axiata fell 1.7 percent.