COLOMBO: Sri Lankan shares fell for a fourth straight session to their lowest close in three weeks, a day ahead of the central bank’s monetary policy review announcement, as investors booked profits in blue-chip companies like John Keells Holdings and Chevron Lubricants Lanka PLC.

However, foreign investors continued to buy shares on a net basis for a 20th straight session. The bourse saw a net foreign inflow of 552 million rupees, extending year-to-date inflows to 15.31 billion rupees.

The main stock index fell 0.79 percent, or 50.46 points, to 6,372.38, the lowest close since May 16.

Foreign investors accounted for around 54.5 percent of the day’s turnover of 1.37 billion rupees ($ 10.83 million), more than this year’s daily average of 1.05 billion rupees.

“Market came down on selling in blue chips. There could be panic selling before it gains again,” said a stockbroker.

The market expects the central bank to keep key policy rates steady at its policy review after an unexpected 50 basis point rate cut last month.

Shares in conglomerate John Keells Holdings fell 2.19 percent to 273.20 rupees, while Chevron Lubricants Lanka plummeted 9 percent to 323.70 rupees.

The market’s 14-day Relative Strength Index (RSI) fell to a neutral region of 60.626 after being in the overbought area since April 16, Thomson Reuters data showed.

The rupee ended firmer at 126.30/40 per dollar from Wednesday’s close of 126.43/45 on thin inflows from stocks-related transactions, dealers said.