Sri Lanka shares becalmed despite big deals

Mar 19, 2012 (LBO) - Sri Lankan shares closed barely changed Monday although foreign buying into a local conglomerate pushed turnover up over three billion rupees, brokers said.



The main All Share Price Index was stagnant at 5,449.46, while the more liquid Milanka index rose 0.
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51 percent (24.83) to close at 4,889.08.

Turnover was 3.1 billion rupees, according to stock exchange provisional figures.

A foreign investor bought a five percent stake in Aitken Spence, amounting to 20.5 million shares, from the Employees' Provident Fund, a state-managed retirement fund of private citizens.

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The deal was done in three off-market deals totaling 2.36 billion rupees at 115 rupees a share.

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Aitken Spence was the highest contributor to the daily turnover. Aitken Spence closed Monday at 116 rupees, up 80 cents.

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The EPF on Friday had sold 71 million shares in another conglomerate, John Keells Holdings, to Malaysia's Khazanah Nasional Berhard.

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John Keells Holdings closed Monday at 200 rupees, up 4.90 rupees.

Brokers Lanka Securities said foreign participation stood at 47.

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4 percent of the total market activity with foreign investors being net buyers with a net foreign inflow of 2.5 billion rupees.
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