Sri Lankan shares slip further

CEAT Kelani Holdings Managing Director Ravi Dadlani (right) and Lanka Ashok Leyland CEO Umesh Gautham exchange the OEM agreement

June 09, 2008 (LBO) – Sri Lankan shares ended weaker Monday on thin trading as weak sentiment continued with investors worried about high inflation and interest rates and lower company earnings, brokers said.

Price losers outnumbered gainers 76 to 39, Bartleet Mallory Stockbrokers said. The All Share Price Index lost 0.28 percent (6.94 points) to end at 2,492.68 while the more liquid Milanka lost 0.31 percent (9.37 points) to end at 2,995.88. Turnover was 182.5 million rupees.

Brokers said investors preferred to put their money in high-yielding money market instruments given the high interest rates.

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