Sri Lanka shares end down 0.11-pct

May 20, 2011 (LBO) – Sri Lankan shares closed weaker Friday despite a strong opening after rallying the day before when a deadline to clear broker credit was extended to the end of the year, brokers said. The main All Share Price Index closed at 7,479.63, down 0.11 percent (7.98 points) while the more liquid Milanka index fell 0.25 percent (17.02 points) to close at 6,879.99, according to stock exchange provisional figures.

Turnover was 3.16 billion rupees.

Conglonmerate and index heavyweight John Keells Holdings, which announced it plans to split every 03 existing shares into 04, was actively traded, closing at 297.80 rupees, down 1.20.

Colombo Land & Development Company was also actively traded, with 41.5 million shares changing hands, and closed at 20.10, down three rupees.

Galadari Hotels (Lanka), which announced it plans to convert debt into equity, including 5.75 billion rupees owed to the parent Galadari Brothers Company, fell 3.6 percent or 1.20 rupees to 32.20.

Guardian Capital Partners was also among the most traded stocks, closing at 267.20, down 20 cents.

There was a crossing of 80,000 shares of Commercial Bank at 260 rupees each. The share closed at 262 rupees, down 1.20.

There was also a crossing of 15,000 Central Finance shares at 1,600 rupees, with the share closing at 1,601.90, up 1.50 rupees.