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11 January, 2012 07:00 AM Source: Reuters
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Sri Lanka's share market fell on Tuesday extending the losses for a sixth session as retail investors cashed in, ahead of an expected boost from the anticipated relaxation of credit restrictions by the Securities and Exchange Commission (SEC).

The main share index ended 0.23 percent, or 13.27 points, weaker at 5,859.67, lowest since Dec. 21.

It has fallen 3.54 percent in the last six sessions, the second worst performer among Asian countries in the new year after Pakistan's bourse.

The new head of the SEC, Tilak Karunaratne, is expected shortly to announce a relaxation of lending restrictions on brokers, which they in turn blamed for sluggish market performance last year.

Foreign investors were net buyers of 13.1 million rupees worth of shares, but foreign investors have sold 184.9 million so far for this year, after 19.1 billion in 2011.

Shares in John Keells Holdings PLC fell 1.2 percent to 165 rupees a share despite foreign buying of 194,300 shares.

Shares in Environmental Resources Investment PLC fell 9.03 percent as investors converted 33.9 million warrants to shares and the company postponed the issue of another two warrants until September 2013.

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