Sri Lanka stocks barely changed

Nov 17, 2009 (LBO) – Sri Lankan shares ended barely changed Tuesday with trading boosted by off-the floor deals in Commercial Bank and in the overall market foreigners being net sellers, brokers said.

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The All Share Price Index closed at 2,983.25, up 0.14 percent (4.04 points) while the Milanka Price Index of more liquid stocks closed at 3,380.48, down 0.40 percent (13.60 points).

Turnover was 958 million rupees, according to provisional Colombo Stock Exchange statistics.

Bartleet Mallory Stockbrokers said turnover was boosted by substantial crossings on Commercial Bank with five blocks amounting to 3.5 million shares changing hands at 177 rupees each.

Commercial Bank topped both the volume and turnover statistics with the trades generating a turnover of 620.3 million rupees.

The Fiannce Company, a Ceylinco group firm that is being restructured, which reported a loss of 835 million rupees in the September quarter, was the most actively traded stock.

It closed at 22.25, down two rupees.

In the overall market, foreign investors were heavy on the selling side ending the day with a net foreign outflow of 381.8 million rupees, the brokers said.

Price losers outnumbered price gainers 74 to 55.