Bourse slips on profit-taking

3 October 2012 02:53 am - 0     - {{hitsCtrl.values.hits}}

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Sri Lankan stocks ended weaker yesterday for a second straight session as investors booked profits from an overbought market, while the rupee slipped from a more than four-month high.

The Colombo Stock Exchange’s main index dropped 0.6 percent or 35.76 points to close at 5,928.53.

The exchange has been overbought since August 28, Thomson Reuters data shows. The 14-day Relative Strength Index on Monday was at 79.582, above the upper neutral range of 70.

Turnover yesterday was Rs.747.9 million ($5.79 million), less than this year’s daily average of Rs.953 million.

The bourse saw a net foreign inflow of Rs.24.5 million, extending the net foreign inflow so far this year to Rs.31.62 billion.

The rupee closed slightly weaker at 129.29/35 to the dollar compared with Monday’s close of 129.10/15, on importer dollar demand, dealers said.

(Source : REUTERS)
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