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Sri Lanka stocks at near 2-week low in overbought market

COLOMBO, Oct 3 (Reuters) - Sri Lankan stocks ended weaker on Wednesday for a third straight session, hitting a near two-week closing low, as retail investors booked profits from an overbought market, while the rupee slipped on importer demand for dollars.

The Colombo Stock Exchange's main index dropped 0.64 percent, or 37.84 points, to close at 5,890.69, its lowest since Sept. 20.

The exchange has been overbought since Aug. 28, Thomson Reuters data shows. The 14-day Relative Strength Index on Monday was at 71.043, above the upper neutral range of 70.

Turnover on Wednesday was 3.04 billion rupees ($23.51 million), more than three times this year's daily average of 964 million rupees, boosted by some block deals.

The bourse saw a net foreign inflow of 682.8 million rupees, extending the net foreign inflow so far this year to 32.3 billion rupees ($249.81 million).

The rupee closed weaker at 129.50/60 to the dollar compared with Tuesday's close of 129.29/35 on importer dollar demand, dealers said. ($1 = 129.3 rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Nick Macfie)

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

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

Keywords: MARKETS SRILANKA/

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