COLOMBO, June 6 Sri Lankan shares fell to a
one-week closing low on Tuesday on profit-booking in blue-chip
shares such as John Keells Holdings Plc while investors
assessed the impact of the recent floods on exchange rate and
Analysts said it was also too early to evaluate the real
impact of the floods and landslides caused by the worst
torrential rains in 14 years, killing over 200 people and
The Colombo stock index ended 0.1 percent weaker at
6,669.53, its lowest close since May 30.
Turnover was 468.3 million rupees ($3.07 million), around
half of this year's daily average of 889.6 million rupees.
Inflation could rise in the short term, especially due to
crop damage and difficulties in distributing fresh food produce
and staple food items, analysts said.
"Some profit-taking is taking place. It's a small pullback
which is good for the future run," said Atchuthan Srirangan, a
senior research analyst at First Capital Holdings PLC.
Foreign investors were net buyers of 134.4 million rupees
worth of shares, extending the year-to-date net foreign inflow
to 19.78 billion rupees.
Shares of conglomerate John Keells Holdings Plc
fell 0.82 percent, while Melstacorp Plc declined 1.36
percent and Dialog Axiata Plc shed 0.84 percent.
($1 = 152.5000 Sri Lankan rupees)
(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Sunil