Sri Lankan stocks edge lower as trading dries up

Jan 17, 2007 (LBO) – Sri Lankan stocks fell again Thursday but not as sharply as yesterday with trading drying up even further as investors remained cautious owing to continuing violence, brokers said. The All Share Price Index fell 3.28 points or 0.14 percent to close at 2,378.88, while the more liquid Milanka index shed 3.23 points or 0.11 percent to 3,052.63.

Turnover fell to 110 million rupees from 180 million rupees Wednesday.

Sri Lanka Telecom closed unchanged at 29.25 rupees with 285,000 shares changing hands while Dialog Telekom was also unchanged at 18.25 on small volumes.

Brokers said investors remained cautious because of uncertainty caused by the flare up in the ethnic war.

A skirmish between government forces and Tamil Tigers was reported in the south where at least 27 people were killed when the Tigers blew up a passenger bus and shot survivors Wednesday, the day the ceasefire ended. .