Sri Lanka stocks becalmed

Aug 03, 2011 (LBO) – Sri Lanka’s main share index closed slightly weaker Wednesday for the second straight day with mainly retail investors in the market and turnover lower than usual, brokers said. East West Properties made the highest contribution to turnover, Lanka Securities said.
“The share displayed high volatility during the day.” The main All Share Price Index closed at 6,812.59, down 0.10 percent (6.99 points) while the more liquid Milanka index rose 0.29 percent (17.94 points) to close at 6,230.38, according to stock exchange figures.

Turnover was 1.2 billion rupees.

“The Colombo bourse continued to slide for the second day running, albeit marginally,” said SC Securities.

Market turnover fell with only a sole crossing or off-market private deal, that of a million shares of Orient Garments at 26.20 rupees a share.

“The market was mostly retailer driven with high interest on East West Properties, Blue Diamonds Worldwide and Lanka Cement,” the brokers said.

East West Properties closed at 19.60 rupees, up 50 cents with almost 14.5 million shares traded.

Blue Diamonds Jewellery Worldwide closed at nine rupees, down 20 cents with 6.98 million shares done.