Sri Lanka shares end down 1.4-pct

Feb 02, 2012 (LBO) – Sri Lankan shares closed weaker Thursday for the third straight day after a brief recent rally, with warrants in Environmental Resources Investments plunging 71 percent with the regulator imposing trading restrictions from February 03. The main All Share Price Index closed down 1.35 percent (76.84 points) at 5,605.49, while the more liquid Milanka index fell 1.39 percent (68.35 points) to close at 4,841.11.

Turnover was 970 million rupees, according to stock exchange provisional figures.

Environmental Resources Investments W0002 warrants were again the day’s biggest loser, plunging 71 percent or 3.90 rupees to end at 1.60 rupees.

ERI warrants had been the biggest loser of the day on Wednesday too, losing half their value, sinking to a record low of 5.50 rupees.

The Securities and Exchange Commission issued another clarification Thursday, saying the warrants will not be permitted to trade after February 03, 2012 following the company’s decision to delay their conversion.

Index heavyweight John Keells Holdings lost 2.50 rupees to end at 167.50 rupees.

Acme Printing & Packaging was the most actively traded stock, closing at 24.90 rupees, down 8.60.