August 30, 2016 / 12:05 PM / 3 years ago

Sri Lankan stocks close steady ahead of cenbank policy meeting

COLOMBO, Aug 30 (Reuters) - Sri Lankan shares ended steady on Tuesday as investors awaited directions from a key central bank policy meeting later in the day.

The central bank is expected to keep its key interest rates steady at the meeting after raising them by 50 basis points last month, a Reuters poll showed, amid signs of easing inflation and slower private sector credit growth.

The benchmark Colombo stock index ended 0.02 percent up at 6,541.80, after posting its lowest close since Aug. 12 on Monday.

The market moved sideways as investors waited for directions from the policy meeting, said Dimantha Mathew, head of research at First Capital Equities (Pvt) Ltd.

Turnover stood at 727.3 million rupees, just below this year’s daily average of 753.4 million rupees.

Foreign investors sold a net 225.8 million rupees ($1.55 million) worth of shares, extending the year-to-date net foreign outflow to 3.94 billion rupees worth of equities.

Lanka ORIX Leasing Company Plc rose 2.5 percent, Overseas Realty Ceylon Plc gained 4 percent, while top conglomerate John Keells Holdings Plc fell 0.3 percent. ($1 = 145.5000 Sri Lankan rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)

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