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Sri Lanka bourse crosses 6,000 point barrier; ends weaker

Monday, 1 Oct 2012 | 8:12 AM ET

COLOMBO, Oct 1 (Reuters) - Sri Lankan stocks ended slightly weaker on profit taking on Monday after hitting a 10-month high in early trading, while the rupee firmed to a more than four-month high as banks sold dollars.

The Colombo Stock Exchange's main index or All Share Price Index (ASPI) rose 0.95 percent in early trading to surpass the psychological barrier of 6,000 points.

It retreated, however, to end at 5,964.29 - 0.13 percent, or 7.70 points weaker that last Friday's close, its highest since Jan. 4.

The exchange has been overbought since Aug. 28, Thomson Reuters data shows. The 14-day Relative Strength Index on Monday was at 82.404, well above the upper neutral range of 70.

Turnover on Monday was 1.1 billion rupees ($8.50 million), more than this year's daily average of 954 million rupees.

The bourse saw a net foreign inflow of 111.6 million rupees, extending the net foreign inflow so far this year to 31.6 billion rupees.

The rupee edged up to 128.90 rupees per dollar in early trading, but closed at 129.10/15, compared with Friday's close of 129.40/50, dealers said.

The rupee strengthened 2.2 percent in September, but has declined 14.4 percent since a 3 percent depreciation last November and 11.3 percent since the introduction of a flexible exchange rate in February. ($1 = 129.6000 Sri Lanka rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Ron Popeski)

((ranga.sirilal@thomsonreuters.com)(+94-11-232-5540)(Reuters

Messaging: ranga.sirilal.thomsonreuters.com@reuters.net))

Keywords: MARKETS SRILANKA/

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