Sri Lanka stocks end at over 5-week high on local buying; rupee slips
Sri Lankan shares rose for the
fourth straight session on Wednesday to hit a more than
five-week closing high on local buying, offsetting continued
foreign selling in equities, while the rupee ended slightly
weaker on dollar demand from importers.
** The benchmark stock index ended 0.81% firmer at
5,378.73, its highest close since May 7. It fell 0.24% last week
and declined 11.13% this year so far.
** The central bank cut its key interest rates on May 31 to
support a
fourth straight session on Wednesday to hit a more than
five-week closing high on local buying, offsetting continued
foreign selling in equities, while the rupee ended slightly
weaker on dollar demand from importers.
** The benchmark stock index ended 0.81% firmer at
5,378.73, its highest close since May 7. It fell 0.24% last week
and declined 11.13% this year so far.
** The central bank cut its key interest rates on May 31 to
support a
Posted by Reuters