Sri Lankan shares fell for a fifth straight session and ended at a nine-month low on Thursday as foreign investors continued to sell shares, offloading close to one billion rupees worth of stocks in the first four sessions of the new year. Foreign investors sold a net 181.7 million rupees ($1.22 million) worth of equities on Thursday, extending the net outflow in the first four trading sessions of the year to 996.6 million rupees.

Worries over a weakening rupee, rising interest rates and continued foreign selling in index heavyweight John Keells Holdings Plc also weighed on the sentiment. The Colombo stock index ended 0.09 percent down at 6,147.52, its lowest close since April 4. The bourse fell 9.7 percent in 2016, its second straight annual decline. The index has been trading in the oversold territory since Tuesday with 14-day relative strength index breaking below 30, Thomson Reuters data showed. A level between 30 and 70 indicates the market is neutral.

Copyright Reuters, 2017