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The Colombo Bourse yesterday experienced heavy selling which resulted in sharp declines in indices. The ASPI and MPI declined by 10.5 points and 19 points to close at 783.10 and 1329 at the end of trading, Bartleet Mallory Stockbrokers said.

Turnover for the day totalled a moderate Rs.41.8 million, down from Rs.46.7 million the last previous trading day.

Sectoral indices such as Banks, Finance and Investment, Investment Trust and Hotels and Travel sectors also declined, while the Chemicals and pharmaceutical sector index appreciated during the day, they said.

However, foreign inflow to the bourse was an encouraging Rs.19.6 million. This was as a result of foreign investors choosing to buy large lots of JKH shares, stockbrokers said.

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