Sri Lankan shares recover from 10-month closing low on bargain-hunting

COLOMBO: Sri Lankan shares rose on Tuesday, recovering from a more than 10-month closing low hit in the previous session, as investors picked up battered blue chips after the central bank held its key policy rates steady, brokers said.
However, concerns over rising market interest rates continued to weigh on sentiment, they added.
The central bank kept its key rates steady for a sixth straight month, but flagged possible "corrective measures" in the months ahead in a sign further tightening might be on the cards to temper inflation pressures and safeguard a fragile rupee.
The Colombo stock index ended 0.4 percent firmer at 6,093.04, snapping two consecutive sessions of declines.
Bargain-hunting was seen in the later part of the session with investors picking up blue chips, said Dimantha Mathew, head of research at First Capital Equities (Pvt) Ltd.