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Sri Lanka shares fall from record high; rupee down

[Reuters, Friday, 16 April 2010 08:11 No Comment]

Sri Lanka’s shares fell on Thursday in thin trade from a record high close in the previous session, snapping six straight rises led by hotel shares, while the rupee closed weaker on importer demand.

The All-Share Price Index .CSE of the Colombo Stock Exchange closed 0.07 percent or 2.95 points weaker at 3,955.83, from its highest close. It hit an all-time high of 3,981.67 points on Monday.

Both share and currency markets were closed on Tuesday and Wednesday for the Sinhala and Hindu New Years.

Analysts said the holiday mood had kept most investors away from the market and the day’s turnover hit 651 million rupees ($5.7 million), well below this year’s average daily volume of over 1.5 billion rupees.

John Keells Hotels KHL.CM fell 7.3 percent to 19 rupees.

The bourse is still up 16.8 percent so far this year, making it Asia’s best-performing market.

The rupee currency LKR= closed weaker at 113.88/93 a dollar from Monday’s close of 113.80/83 due to importer demand, currency dealers said. It hit a 15-month high 113.60 a dollar during the the trading on Monday.

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