Sri Lanka stocks close 0.2-pct weaker

Jan 06, 2012 (LBO) – Sri Lankan stocks closed weaker Friday for the fourth day running with a private deal in a bank where foreigners have been selling out bolstering the thin turnover, brokers said. Environmental Resources Investments shares and warrants were heavily traded with the firm announcing it plans to delay conversion of warrants by six months from February 2012 to September 2012.

ERI shares closed at 32 rupees, up 20 cents while its W0002 warrants were the day’s highest gainer, closing at 15 rupees, up 1.70. The main All Share Price Index fell 0.16 percent (9.23 points) to 5,930.52, while the more liquid Milanka index fell 0.20 percent (10.31 points) to 5,083.15.

Turnover was a low of 337 million rupees, according to stock exchange provisional figures.

Commercial Bank closed at 100 rupees, up 20 cents, with a crossing or off-market private deal of 500,000 shares at 100 rupees each accounting for most of the trades.

Index heavyweight John Keells Holdings fell 1.30 rupees to close at 167.80.