COLOMBO, March 7 Sri Lankan shares ended
slightly weaker on Tuesday, with financial and manufacturing
stocks dragging down the index as investor sentiment continued
to remain low on concerns about rising interest rates.
The Colombo stock index ended down 0.15 percent at
6,108.11, On Friday the bourse hit its lowest close since Feb.
9. It shed 0.6 percent last week in its second straight weekly
Foreign investors were net buyers of shares worth 379.6
million rupees ($2.51 million) on Tuesday, extending the
year-to-date net foreign inflow to 1.73 billion rupees worth of
Turnover was 539 million rupees, less than this year's daily
average of 676.9 million rupees.
"Retail and institutional segment is on silent (mode) with
the high interest rates and economic uncertainty," said Dimantha
Mathew, head of research, First Capital Equities (Pvt) Ltd.
The International Monetary Fund on Tuesday urged Sri Lanka's
central bank to rebuild international reserves, while
maintaining exchange rate flexibility, and to be ready to
tighten monetary policy if credit growth or inflation do not
Shares in Ceylon Cold Stores Plc fell 2.51 percent
while Commercial Leasing & Finance Plc lost 6.67
Yields on treasury bills have risen to a more-than-four-year
high since October, while the central bank has kept key policy
rates on hold.
($1 = 151.1500 Sri Lankan rupees)
(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Sunil