Sri Lanka stocks close lower, telecom deals drive turnover

March 19, 2008 (LBO) – Sri Lanka stocks closed lower Wednesday dragged down by heavy trading in telecom shares whose prices fell in afternoon trade. The All Share Index lost 0.59 percent (15.11 points) to close at 2,536.18 points while the Milanka Index shed 0.72 percent (23.16 points) to close at 3,195.84.

Over 6.1 million shares of state operator Sri Lanka Telecom changed hands but the share lost 25 cents to close at 40.50.

Telecom deals added 250.1 million rupees to the total turnover of 425.37 million.

Mobile operator Dialog Telekom also slipped 25 cents to 17.00 in trading.

Bukit Darah, a real estate company with low liquidity but higher market capitalization, gained 56.00 rupees to close at 1,366.00 rupees, Colombo Stock Exchange provisional data showed.

John Keells Holdings remained unchanged from the day before at 120.00 rupees while Hatton National Bank and Commercial Bank of Ceylon closed higher.

HNB was up 50 cents at 124.50 while Commercial Bank closed 25 cents higher at 142.00.

Lubricant manufacturer Chevron Lanka Limited saw its share go up two rupees to close at 96.00.

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