Sri Lanka stocks close down 0.5-pct

Dec 07, 2010 (LBO) – Sri Lankan stocks extended loses Tuesday closing 0.57 percent lower with index heavy stocks weakening though turnover rose of several large deals, brokers said. Seylan Bank shares were heavily traded with over 6.15 million shares changing hands and the stock closing at 100.20, up 1.10 rupees. Contribution to turnover was 6.15 million.

Sampath Bank closed at 257.50, down 0.60 rupees, Commercial Bank closed at 268.10, down 1.80 and DFCC closed at 195.30, down 2.70 rupees.

JKH closed at 293.30, down 2.50 with a million shares traded.Distilleries Company closed at 166.90, down 0.60 cents with 2.3 million shares done.

Dialog Axiata closed at 11.60, down 0.10 cents with 1.8 million shares changing hands.

Corrected – Dialog Axiata price The All Share Price Index closed at 6,469.08, down 0.57 percent (37.22 points) while the Milanka index of liquid stocks dipped 0.55 percent (38.44 points) to close at 6,937.80, according to Colombo Stock Exchange (CSE) provisional figures.

On Monday stocks fell 0.6 percent.

Turnover was 3.3 billion rupees. There were 118 gainers and 44 losers.

“December is historically a month where the small investors pull away from the market to be more liquid for festive needs,” Nikita Tissera of S C Securities said.

“We do see signs of it in a small way- but the outlook on the whole is positive.”

Lanka Hospitals closed at 32.60, up 1.50 rupees with 35 million shares traded.