COLOMBO, June 5 Sri Lankan shares ended a tad
weaker on Thursday, hovering near their lowest close in more
than three weeks hit on Friday, while conglomerate John Keells
Holdings boosted turnover, brokers said.
Analysts said continued foreign buying and expectation that
interest rates would come down further will boost market
The main stock index ended 0.09 percent, or 5.90
points, weaker at 6,280.16. On Friday, it had closed at its
lowest level since May 7.
Turnover was 896.2 million rupees ($6.88 million), less than
this year's daily average of 1 billion rupees.
The bourse saw a net foreign inflow for the sixth straight
session. Foreign investors bought 514.1 million rupees worth of
shares, extending the year-to-date net foreign inflows to 3.88
Analysts said the market expects a further fall in interest
rates after central bank governor Ajith Nivard Cabraal told
Reuters on Friday that the central bank is creating room to cut
interest rates further.
Cabraal signalled "a lot a space being created for some more
Stockbrokers expect the market to gain in the near future
due to lower interest rates after the central bank kept key
rates at multi-year lows in May for the fourth straight month,
Shares of Sri Lanka Telecom PLC fell 2.71 percent
to 46.70 rupees, while Bukit Darah PLC fell 1.56
percent to 650 rupees.
Conglomerate John Keells Holdings PLC, which
accounted for 58.28 percent of the day's turnover, closed flat
at 235 rupees.
($1 = 130.3450 Sri Lankan Rupees)
(Reporting by Ranga Sirilal; Editing by Subhranshu Sahu)