COLOMBO, Dec 18 (Reuters) - Sri Lankan shares fell for a
second straight session on Monday to hit their lowest close in
more than eight months as investors offloaded plantation and
The Colombo Stock Index ended 0.09 percent weaker at
6,346.70, its lowest close since April 11. It lost 0.4 percent
last week, its sixth consecutive weekly decline.
"It's yet another dull day and we don't have any positive
news to boost the market," said Atchuthan Srirangan, senior
research analyst at First Capital Holdings PLC.
Plantation stocks came under pressure after the Russian
agricultural safety watchdog said on Thursday that the country
will place temporary restrictions on imports of all agricultural
products from Sri Lanka, including tea, from Dec. 18.
Analysts said the Russian restrictions on tea could pose a
threat to long-term tea prices and it could impact the earnings
of plantation companies.
Turnover was 233 million rupees ($1.52 million), the lowest
since Sept.25, and well below this year's daily average of 935.9
Foreign investors were net buyers of 71.8 million rupees
worth of shares on Monday, extending their year-to-date net
equity purchases to 18.4 billion rupees.
Shares of Hemas Holdings Plc ended 1.2 percent
lower, while Hatton National Bank Plc fell 0.4 percent
and Sri Lanka Telecom Plc lost 1.4 percent.
($1 = 153.1500 Sri Lankan rupees)
(Reporting by Ranga Sirilal; Editing by Vyas Mohan)
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