Sri Lankan stocks slipped on Monday in thin trading on worries over corporate earnings after a gasoline price increase raised concerns over inflationary pressures. The Colombo Stock Exchange's main index dipped 0.35 percent or 19.21 points to close at 5,503.51. "The fuel price hike hit a lacklustre market already in a holiday mood," said a stock broker asking not to be identified.

Turnover on Monday stood at 532.87 million rupees ($4.15 million). Foreign investors were net buyers of 102.5 million rupees worth of shares, extending the net foreign buying so far this year to 36.69 billion rupees. The rupee closed weaker at 128.70/80 to the dollar compared with Friday's close of 128.60/70 on importer demand for dollars, dealers said.

Copyright Reuters, 2012