* Large cap shares bring index down in low volumes
* Foreign outflow for the first time in 6 sessions
* Rupee flat; state bank sells dlr at 109.80 rupees
COLOMBO, May 10 (Reuters) - Sri Lankan shares wavered on Tuesday led by illiquid large caps amid retail profit-taking and foreign outflows, while the rupee closed steady.
Sri Lanka's main share index fell 0.52 percent or 38.21 points to 7,339.65 from its highest close since April 21.
Illiquid Lanka Ashok Leyland , a motor vehicle importer and distributor, large cap oil palm firm Bukit Darah , and conglomerate Carson Cumberbatch drove the overall index down with closing down 16.7 percent, 1.8 percent, and 0.9 percent respectively.
Foreign investors were net sellers for the day, ending inflows in five straight sessions, selling 78 million rupees' worth of shares on Tuesday. They have sold a net 5.79 billion in 2011, and a record 26.4 billion in 2010.
Turnover was 1.58 billion Sri Lanka rupees ($14.39 million), well below last year's average of 2.4 billion rupees and this year's daily average of 2.87 billion rupees.
Traded volume was 84.7 million, against a five-day average of 71.7 million. The 30-day and 90-day average trading volumes were 57.5 million and 63.9 million, respectively. Last year's daily average volume was 67.9 million.
The bourse is still Asia's best performer in 2011 with an 10.6 percent gain, after bringing in the region's top gain, 96 percent, last year.
The rupee ended steady at 109.77/78 a dollar as a state bank, through which the central bank directs the market, sold dollars at 109.80, the high end of the central bank's dollar trading band amid importer dollar demand, dealers said.
FACTORS TO WATCH:
- Impact of global commodity price volatility on the Sri Lankan bourse
- If Sri Lanka can achieve an 8.5 pct growth target amid rising global oil prices and inflation
- March quarter corporate results
source - www.reuters.com
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