Sri Lanka shares becalmed, JKH weakens

Dec 18, 2008 (LBO) – Sri Lankan shares barely moved Thursday, with John Keells Holdings falling 3.51 percent and transactions in Commercial Bank and Kelani Tyres accounting for the bulk of the day’s trading volumes, brokers said

To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678

The All Share Price Index ended marginally firmer, up 0.05 percent (0.75 points) to close at 1,526.27 while the more liquid Milanka fell 0.11 percent (1.88 points) to end at 1,689.64. Turnover was 81 million rupees.

John Keells Holdings fell 3.51 percent (two rupees) to end at 55 rupees on small volumes

Yadhavan Jayaram of Bartleet Mallory Stock Brokers said trading volumes were low and dominated by the transactions in Commercial Bank and Kelani Tyres.

Commercial Bank ended 50 cents up at 68.50 rupees with 357,000 shares traded.

Brokers said its price had fallen to levels where a liability on account of oil hedge payment suspended by a court order had been discounted.

Kelani Tyres closed 25 cents weaker at 23.25 rupees with just over two million shares traded.

Dialog Telekom closed flat at 6.25 while Sri Lanka Telecom edged up 25 cents to close at 31.25 both on small volumes.

The rupee traded around 111.80/95 to the green back and overnight interest rates were around 13.00 percent amid excess liquidity.