Sri Lankan stocks ended slightly lower on Monday on foreign selling in blue chips as investors sought profits after the market rose to fresh highs in early trade, brokers said. The key Colombo all-share index ended a provisional 0.12 percent, or 2.01 points, lower at 1,647.78 points. The index closed at a closing high of 1,649.79 on Friday. The bourse has gained more than 9.0 percent so far this year, boosted by a strong construction sector expected to benefit from post-tsunami reconstruction.

The Milanka index which tracks the most liquid and highly capitalised stocks - fell a provisional 0.23 percent, or 5.29 points, to 2,258.76 points.

"Short term tendency is for investors to take profits, but in the long term investors will buy key blue chip shares to hold," said one broker.

Conglomerate John Keells Holdings Ltd rose 0.19 percent to 129.25 rupees. Asian Hotels and Properties Ltd was up 2.33 percent to 33 rupees.

Lanka Indian Oil Corp rose 0.47 percent, to 53.50 rupees.

Total market turnover was 341.98 million rupees, with 22 million rupees worth of foreign purchases and 97 million rupees of foreign sales.

Copyright Reuters, 2005