Sri Lanka's share market fell on Friday as retail investors booked profits in high-volume trade, preparing for a possible rally after the Securities and Exchange Commission (SEC) announces its decision on relaxing credit restrictions.
The SEC has said that on Monday it will make a final decision on broker requests to allow more lending to clients for share purchases. The stock market is closed on Monday in lieu of a Hindu holiday on Sunday.
The main share index ended 0.22 percent, or 13.13 points weaker at 5,929.34, erasing gains from early trading. It rose 0.85 percent or 50.73 points during the day as retail investors snapped up shares on speculation.
Environmental Resources Investment PLC, a favourite of retail speculators, fell 2.03 percent to 33.70 rupees after having risen 27.21 percent in the two previous sessions.
Commercial Bank of Ceylon PLC, which saw foreign selling of 573,000 shares on Friday, fell 0.2 percent to 100.10 rupees.
The day's turnover was 1.2 billion Sri Lanka rupees ($10.54 million), highest since December 5, but far below last year's average of 2.3 billion rupees. Volume was 85.7 million shares, highest since December 1. Last year's daily average was a record 102.7 million.
The Colombo bourse is the third-worst performer among Asian countries in 2012 with a 2.39 percent loss so far. Only Pakistan's market and China's Shenzhen Class A Share index for domestic investors have fared worse.
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