Sri Lanka shares becalmed

May 24, 2011 (LBO) – Sri Lankan shares closed barely changed Tuesday with heavy trading in a property firm in which a big stake changed hands last week, brokers said. The main All Share Price Index closed at 7,431.97, down 0.10 percent (7.18 points) while the more liquid Milanka index rose 0.06 percent (4.22 points) to close at 6,857.61, according to stock exchange provisional figures.

Turnover was 2.5 billion rupees.

There was heavy trading once again in Colombo Land & Development Company, owners of Colombo’s Liberty Plaza, and People’s Park shopping complexes.

It was the day’s most actively traded stock, closing at 34.90 rupees, up 3.10 rupees or almost 10 percent, the maximum allowed under a regulatory price band, with over 14.3 million shares traded.

On Friday, Imagewize, a controlling shareholder of listed Citrus Leasure, and Kalpitiya Resorts, a subsidiary, bought a 20 percent stake in the firm from a founder Singapore based shareholder.

One million shares of Aitken Spence Hotel Holdings changed hands in a crossing or private deal, with the stock closing at 89.10 rupees, down 70 cents.

Odel, a fashion retailer, was also actively traded, closing at 44.50 rupees, up 2.50, with 1.4 million shares done.

Hemas Holdings was also among the shares that were actively traded, closing at 49.90, up 1.70 with over two million shares changing hands.