Colombo shares down as retailers take profit

Colombo stock-market activity remained at moderate levels during mid morning on Friday with both indices down as investors were cashing in on large to mid cap stocks, analysts said.

“There is a lot of profit-taking and the market is going through some corrections as the investors are awaiting for more positive developments to invest aggressively,” Srimal Liyanage, Head of Research Lanka Securities said. The All Share was down by 0.57% to 2,394.79 while Milanka saw a 0.69% drop to 2,690.93 on a Rs 126.4 million turnover by mid morning.