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Message: <blockquote data-quote="sherlock" data-source="post: 10698168" data-attributes="member: 106046">Sri Lanka stx hits 7-month low; rupee flat  * Index hits lowest since Dec. 23 * Foreign investors net sellers of 571.2 mln rupees on week * State bank defends rupee amid importer dlr demand COLOMBO, July 22 (Reuters) - Sri Lanka's stock market fellto a seven-month low on Friday and deeper into negativeterritory as investors sold large-cap shares, foreign investorskept selling out and month-end margin settlements all weighed.      The main share index fell 2 percent or 131.68 pointsin early trade and closed 0.94 percent or 61.72 points weaker at6,537.25, the lowest since Dec. 23.      The bourse, Asia's best performer for the last two years,had gained since the beginning of 2009 when Sri Lanka's 25-yearwar was nearing its end. It returned 124 percent in 2009 and 96percent in 2010. But it is down 1.49 percent so far this year.      Foreign investors were net sellers of 86.5 million rupeesworth of shares on Friday, bringing the total outflow to 571.2million this week. They have sold 7.71 billion rupees in 2011after a record outflow of 26.4 billion in 2010.     The market fell 3.07 percent this week, despite improvingmacroeconomic fundamentals which sparked a sovereign ratingupgrade this week, bolstering the sale of a $1 billion, 10-yearsovereign bond on Wednesday.        Since June 1, the index has shed 11.5 percent, mainly due toforced selling in line with the policy of Sri Lanka's Securitiesand Exchange Commission (SEC) to eliminate margin trading byyear's end.     The day's turnover was 1.34 billion Sri Lanka rupees ($12.2million) well below last year's average of 2.4 billion and thisyear's 2.71 billion.     Traded volume was 76.8 million against a five-day average of58.7 million. The 30-day and 90-day average trading volumes were120.2 million and 103 million, respectively. Last year's dailyaverage was 67.9 million.     The rupee ended steady at 109.49/50 a dollar for asixth straight day as a state bank, through which the centralbank directs the market, continued selling dollars at 109.50despite heavy importer demand, dealers said.          <a href="http://www.reuters.com/article/2011/07/22/markets-srilanka-idUSL3E7IM1NH20110722" target="_blank">http://www.reuters.com/article/2011/07/22/markets-srilanka-idUSL3E7IM1NH20110722</a></blockquote>

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