Bourse rebounds

Saturday, 27 July 2013 00:18 - - {{hitsCtrl.values.hits}}

REUTERS: Sri Lankan shares recovered in thin trade on Friday from a near one-week closing low hit in the previous session, helped by foreign inflows and market heavyweight John Keells Holdings as investors waited for direction on the rupee and June quarter performance. The main share index ended 0.23%, or 13.61 points, firmer at 6,051.77, recovering from its lowest close since 19 July. Despite the Central Bank’s easing of policy measures, concerns over the weakening rupee and high lending rates have dented sentiment, with investors waiting for directions, brokers said. John Keells Holdings Plc, which reported a 4% drop in June-quarter profits after the market closed, gained 0.75% to Rs. 269. Foreign investors bought a net Rs. 87.36 million ($ 663,600) in shares, extending the year-to-date net foreign inflow to Rs. 16.95 billion. Turnover was Rs. 403.8 million, bourse data showed, well below this year’s daily average of around Rs. 942 million.

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