Sri Lanka stocks close 0.53-pct down

Dr. Ganeshan Wignaraja and Dr. Dinusha Panditaratne

Nov 16, 2010 (LBO) – Sri Lanka stocks closed 0.53 percent lower, extending losses with index heavy stocks dragging the market down, brokers said.

Turnover was 3.5 billion rupees. There were 53 gainers and 137 losers.

“Sector wise 2.3 billion of the revenue came from diversified sector, 667 million from the hotels and 187 from the banking sector,” Rakshitha Perera of Bartleet Mallroy Stockbrokers said.

Aitken Spence, a conglomerate with heavy interest in the leisure sector closed down at 177.00, down 0.30 cents with 11.6 million shares traded.

“Today’s trading was a more positive than the past few days with a bigger turnover and larger volumes traded,” Perera said.

John Keells Holdings, an index heavy stock that has business interest in transport, financial services, retail, food processing closed at 292.10, down 3.10, while its hotel unit, John Keells Hotels, closed at 20.80, up 0.10 cents with 2 million shares changing hands.

Among banks Sampath closed at 263, down 2.10 rupees, Commercial Bank closed at 265.00, down 0.50 and DFCC closed 200.00, down 4.10.

The All Share Price Index closed at 6,472.42, down 0.53 percent (34.79 points) while the more liquid Milanka index fell 0.64 percent (45.05 points) to close at 6,983.43, according to stock exchange provisional figures.