Sri Lankan stocks inched up on Tuesday, lifted by retail shares, but institutional investors stayed away from the market in the absence of fresh economic factors to determine direction, brokers said.
The key Colombo all-share index ended up 0.22 percent, or 2.95 points, at 1,325.94. But the Milanka index, which tracks the most liquid and highly capitalised stocks, ended down 0.13 percent, or 2.64 points, at 1,992.90.
Last week, the central bank trimmed the island's 2004 growth forecast for the second time this year, to 5.0-5.5 percent from 5.5 percent, saying a drought had lasted longer than expected.
Tea exporter James Finlay and Company (Colombo) Ltd rose 22.5 percent, or 24.75 rupees, to 134.75 rupees. Aitken Spence and Company Ltd rose 3.52 percent, or 10 rupees, to 294 rupees, on media speculation of a bonus issue.
Total turnover was 178 million rupees, with light foreign interest of about 25.9 million rupees in purchases and nine million rupees in sales.
Conglomerate John Keells Holdings Ltd fell 0.48 percent, or 0.50 rupees, to 103.50 rupees after gaining three percent on Monday on a foreign purchase.
Distilleries Co of Sri Lanka Ltd lost 1.06 percent, or 0.25 rupees, to 23.25 rupees.
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