Sri Lanka shares fall on profit-taking

Feb 21, 2011(LBO) – Sri Lankan stocks closed 0.72 percent lower Monday on profit-taking by retail investors after a recent rally, brokers said.

The All Share Price Index closed at 7,617.19, down 0.72 percent (-55.30 points) while the Milanka Price Index of more liquid stocks closed at 7,239.32, down 0.04 percent
(-2.83 points), according to stock exchange provisional figures.

Turnover was 2.2 billion rupees.

“The market was retail investor driven,” an analyst said.

There were gains seen in Commercial Bank with the stock closing at 275.10, up 0.10 cents and contributing 143 million rupees to the day’s turnover.

Malwatte Valley Plantations voting stock closed at 121.90, up 15.90 rupees while its non-voting stock closed at 89.90, up 8.10 rupees.

Brown and Company closed at 292.00, down 2.80 rupees.