Sri Lanka stocks becalmed

Sri Lanka's state minister of defence Ruwan Wijewardene (L) takes part in a press conference in Colombo on April 24, 2019. - A Sri Lankan security dragnet hunting those responsible for horrifying bombings that claimed more than 350 lives has scooped up a further 18 suspects, police said April 24, as pressure mounted on politicians to explain why no one acted on intelligence warnings. (Photo by ISHARA S. KODIKARA / AFP) (Photo credit should read ISHARA S. KODIKARA/AFP/Getty Images)

June 26, 2008 (LBO) – Sri Lanka stocks closed flat Thursday with foreign transactions in conglomerates helping to prop up turnover, brokers said. The overall market was barely changed with the All Share Price Index down 0.03 percent (0.71 points) to end at 2,479.21 while the more liquid Milanka edged up 0.33 percent (9.95 points) to 3,019.91. Turnover was 274 million rupees.

Foreign selling was seen on Hemas, a conglomerate which is into fast moving consumer goods.

Hemas lost 4.00 to close at 81.00 rupees with transactions totalling 1,378,000 shares which contributed to 36 percent of the day’s turnover.

Foreign activity was also seen on Aitken Spence which closed flat at 540.00 rupees. Aitken Spence trades added 48.6 million rupees to turnover.

Brokers said retail activity in the market was low.

In telecoms, Dialog Telekom closed 25 cents lower at 14.50 and Sri Lanka Telecom closed 50 cents lower at 46.00 following retail activity.

More transactions were seen on Vallibel Power Erathna, which is being bought by a foreign investor, with 3,153,800 shares changing hands at 4.20 rupees.