Bourse slips on retail profit taking

Tuesday, 29 January 2013 01:04 - - {{hitsCtrl.values.hits}}

(Reuters) - Sri Lanka’s stock market slipped from a three-month high on Monday as retail investors booked profits, offsetting the gains due to foreign buying in market heavyweight John Keells Holdings. The main share index closed 0.39 percent, or 23.10 points weaker, at 5,855.09, slipping from its highest close since Oct 3.

Shares in John Keells Holdings rose 0.22 percent to 225 rupees a share.

Foreign investors were net buyers for the first time in the last six sessions. They bought 21.9 million rupees ($172,200) worth of shares, but they have been net sellers of 912.6 million rupees over six sessions, bringing the year-to-date foreign outflow of 431.4 million rupees.

Sri Lanka enjoyed a record foreign inflow of 38.63 billion rupees last year.

The rupee closed a tad weaker at 127.10/15 to the dollar from Thursday’s close of 127.00/20, on importer dollar demand, traders said.