(REUTERS) Sri Lankan shares closed slightly lower on Wednesday as blue chips fell, but foreign buying capped losses while local investors continued to wait for more clarity on a new tax bill.
The Colombo stock index ended 0.09 percent weaker at 6,697.08, its lowest close since June 19. The bourse fell 0.05 percent last week.
Foreign investors net bought 208.6 million rupees ($1.36 million) worth of shares, extending their year-to-date net inflow to 21.7 billion rupees worth of equities.
"It was a flat market throughout the day and there were a lot of block trades. Foreign investors still continue to be net buyers," said Prashan Fernando, CEO, Acuity Stockbrokers.
"Government funds have been very quiet and we do not see many retail investors."
Brokers said local investors have been waiting for some clarity on the proposed inland revenue act, which some companies expect will result in higher cost of production.
A Sri Lanka Air Force Bell 212 helicopter belonging to the No. 72 squadron has crashed into the Madhuru Oya reservoir this morning, Air FOrce Media Spokesman Eranda Geeganage said.
Read this week’s Sunday Times for your interesting articles including the ’’5th Column’’.
In its first electoral test since taking power, the ruling National People’s Power (NPP) fell short of expectations, winning only around 40 % of the national vote in Tuesday’s local government election and falling short of enough seats to gain control of the majority of councils.
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