Bourse flat near 1-week high

Friday, 9 August 2013 00:00 -     - {{hitsCtrl.values.hits}}

Reuters: Stocks ended little changed with the index hovering near its one-week high as investors bought telecommunications shares while retail investors were waiting for direction. Analysts said investors were cautious and waited for direction despite the Central Bank’s policy easing as concerns over a weakening rupee and high lending rates dented sentiment. The main share index closed 0.13 points firmer at 6,151.92, its highest close since 2 August. Shares in fixed line telephone operator Sri Lanka Telecom rose 2.5% to Rs. 41, while mobile phone operator Dialog Axiata rose 1.16% to Rs. 8.70. Turnover was Rs. 285 million ($ 2.16 million), well below this year’s daily average of about Rs. 924.3 million. Foreign investors were net buyers of Rs. 33 million worth of shares, extending the net foreign inflow so far this year to Rs. 16.34 billion. The market is closed on Friday for Eid-al-Fitr.