Bourse slips from 19-month high on profit taking

COLOMBO (Reuters): Sri Lankan shares fell on Monday from a 19-month high as investors booked profits in light volume and lacklustre blue-chips trade while the rupee currency ended weaker on importer dollar demand.

The main stock index eased 0.65%, or 42.31 points, to close at 6,446.54, slipping from its highest close since 14 October 2011.

“The market came down on lacklustre trade with some profit-taking in blue chips,” said a stock broker who declined to be identified.

Foreign investors were net buyers of shares worth of Rs. 113.2 million, extending net foreign inflows this year to Rs. 13.2 billion.

Turnover was Rs. 697 million (US$ 5.52 million), compared with this year’s daily average of Rs. 1.04 billion.

The rupee ended weaker at Rs. 126.38/40 per dollar from Thursday’s close of Rs. 126.30/35 on importer dollar demand, dealers said.

The stock and currency markets were shut on Friday for a Buddhist religious holiday.