Sri Lanka's share index .CSE hit a fresh all-time high on Monday before closing flat due to retail profit taking, while foreigners continued to exit the market, despite post-war economic optimism.
The All-Share Price Index .CSE of the Colombo Stock Exchange rose 20.33 points to hit a new record high of 3,865.17 points, surpassing its previous all-time high of 3,856.17 hit on Friday. It closed 0.03 percent or 1.29 points down at 3,843.55. "It's retail-led market except for foreign deals on Keells," said Hussain Gani, associate director at Asia Securities.
Conglomerate John Keells Holdings JKH.CM, which was heavily traded between foreigners, edged up 0.15 percent to 169 rupees.
John Keells Hotels KHL.CM fell 4.7 percent to 25.50 rupees.
Foreigners sold a net 54 million rupees worth of shares on Monday. They have been net sellers in 36 out of the 47 trading sessions so far this year.
Foreigners, who had been net buyers since 2001, turned net sellers in 2009, selling 785.3 million rupees worth of shares.
They have sold a net 7.1 billion rupees worth shares so far this year and 4.6 billion since the Jan. 26 presidential polls.
Analysts say foreigners have left the bourse due to concerns over economic and political stability amid an eight-year high budget deficit in 2009, a delay of the third tranche of a $2.6 billion loan by the International Monetary Fund and political uncertainty ahead of parliamentary polls on April 8.
However, some analysts said the numbers were distorted due to the gradual exit of a U.S.-based hedge fund after its Sri Lankan-born founder was charged in an insider dealing case.
Sri Lanka will seek a waiver from the International Monetary Fund (IMF) after failing to meet the 2009 budget deficit target agreed under a $2.6 billion loan deal, the central bank said on Monday.
The bourse is up 13.6 percent so far this year, following a 125 percent rally in 2009, one of the best performers in Asia.
The rupee LKR= closed weaker at 114.15/22 per dollar, compared with Friday's close of 113.90/114.00 due to importer demand for dollars and speculative trading, dealers said.
"The speculative trading was due to an expected transaction tomorrow for foreign selling of some hotel shares last week," said a currency dealer.
The rupee hit a one-year high during early trade on Thursday as a state bank, through which the central bank directs the market, reduced its dollar trading band.
The IMF, as a condition for a $2.6 billion loan to Sri Lanka, had asked the central bank to allow necessary flexibility in the exchange rate to build up reserves, which are now around $5.3 billion.
The IMF on Feb. 25 said it would delay a third tranche of the loan amid concerns over high domestic financing until it sees the budget after the parliamentary polls.
The interbank lending rate or call money rate CLIBOR, fell to 9.000 percent from Friday's 9.286 percent.
The All-Share Price Index .CSE of the Colombo Stock Exchange rose 20.33 points to hit a new record high of 3,865.17 points, surpassing its previous all-time high of 3,856.17 hit on Friday. It closed 0.03 percent or 1.29 points down at 3,843.55. "It's retail-led market except for foreign deals on Keells," said Hussain Gani, associate director at Asia Securities.
Conglomerate John Keells Holdings JKH.CM, which was heavily traded between foreigners, edged up 0.15 percent to 169 rupees.
John Keells Hotels KHL.CM fell 4.7 percent to 25.50 rupees.
Foreigners sold a net 54 million rupees worth of shares on Monday. They have been net sellers in 36 out of the 47 trading sessions so far this year.
Foreigners, who had been net buyers since 2001, turned net sellers in 2009, selling 785.3 million rupees worth of shares.
They have sold a net 7.1 billion rupees worth shares so far this year and 4.6 billion since the Jan. 26 presidential polls.
Analysts say foreigners have left the bourse due to concerns over economic and political stability amid an eight-year high budget deficit in 2009, a delay of the third tranche of a $2.6 billion loan by the International Monetary Fund and political uncertainty ahead of parliamentary polls on April 8.
However, some analysts said the numbers were distorted due to the gradual exit of a U.S.-based hedge fund after its Sri Lankan-born founder was charged in an insider dealing case.
Sri Lanka will seek a waiver from the International Monetary Fund (IMF) after failing to meet the 2009 budget deficit target agreed under a $2.6 billion loan deal, the central bank said on Monday.
The bourse is up 13.6 percent so far this year, following a 125 percent rally in 2009, one of the best performers in Asia.
The rupee LKR= closed weaker at 114.15/22 per dollar, compared with Friday's close of 113.90/114.00 due to importer demand for dollars and speculative trading, dealers said.
"The speculative trading was due to an expected transaction tomorrow for foreign selling of some hotel shares last week," said a currency dealer.
The rupee hit a one-year high during early trade on Thursday as a state bank, through which the central bank directs the market, reduced its dollar trading band.
The IMF, as a condition for a $2.6 billion loan to Sri Lanka, had asked the central bank to allow necessary flexibility in the exchange rate to build up reserves, which are now around $5.3 billion.
The IMF on Feb. 25 said it would delay a third tranche of the loan amid concerns over high domestic financing until it sees the budget after the parliamentary polls.
The interbank lending rate or call money rate CLIBOR, fell to 9.000 percent from Friday's 9.286 percent.
