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Sri Lanka stocks slip from 3-year high on profit-taking
August 25, 2014 / 11:26 AM / 3 years ago

Sri Lanka stocks slip from 3-year high on profit-taking

COLOMBO, Aug 25 (Reuters) - Sri Lankan stocks fell on Monday, ending a five-day gaining streak, to slip from a three-year high hit in the previous session as investors booked profits in conglomerate John Keells Holdings Plc, brokers said.

The main stock index ended down 0.34 percent, or 23.99 points, at 6,984.03, easing from its highest close since Aug. 18, 2011 hit on Friday.

The index has gained 18.12 percent so far this year.

“There was a bit of profit-taking which dragged the market,” said a stockbroker, asking not to be named.

Market heavyweight John Keells Holdings fell 0.82 percent to 243 rupees.

United Motors Plc, which traded after a two-for-three share split led the fall in the index, plunging over 31 percent to 101.20 rupees a share.

Monday’s turnover stood at 1.2 billion rupees ($9.22 million), in line with this year’s daily average.

The bourse saw a net foreign inflow of 445.1 million rupees on Monday, extending the year-to-date net foreign inflow to 7.52 billion rupees worth of shares. (1 US dollar = 130.1800 Sri Lankan rupees) (Reporting by Ranga Sirilal; Editing by Sunil Nair)

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