Sri Lanka stocks close down 0.7-pct

Kris Canekeratne at LBR LBO Tech Conference

Nov 25, 2010 (LBO) – Sri Lanka stocks closed down 0.76 percent Thursday with a few high-net-worth individuals showing interest in trading, brokers said.

The All Share Price Index closed at 6,413.32, down 0.76 percent (48.80 points) while the Milanka index of liquid stocks dipped 0.77 percent (54.13 points) to close at 6,945.06, according to Colombo Stock Exchange (CSE) provisional figures.

Turnover was 1.4 billion rupees.

“We believe that the negativity surrounding the credit concerns are still looming over the CSE, despite what we have seen in the budget,” Nikita Tissera of S C Securities said.

The markets regulator has imposed restrictions on trading with borrowed funds.

Hydro Power Free Lanka started trading Thursday, opening at 15.50 rupees and hitting a high of 16.00 rupees before closing at 15.70. The company also accounted for the highest turnover with 22 million shares traded.

Among banks Sampath closed at 262.10, down 3.60 rupees, Commercial Bank closed at 271.00, up 1.00 and DFCC closed at 201.50, up 0.70 cents.

John Keells Holdings closed at 294.60, down 0.80 cents while Hayleys closed at 340.00, down 5.10 rupees.
(Ends)