Sri Lanka stocks down 01-pct

Aug 19, 2011 (LBO) – Sri Lanka stocks closed one percent lower down Friday with speculation on a few stocks dominating trading, brokers and analysts said. Lake House Printers & Publishers was the day’s top and its share closed at 160 rupees up 20.52 percent or 27.70 rupees.

Renewed interest was seen in Serendib Hotels, The Finance, Fortress Hotels and Kelsy Developments which rose over 9 percent.

John Keels Holdings closed at 209 rupees down 1.30 rupees or 0.62 percent. Carsons Cumberbatch closed at 605 rupees down 10 rupees or 1.63 percent.

Privately negotiated deals included Central Finance 20,000 shares at 1,365 rupees, Dimo, 30,000 shares at 1,450 rupees, National Development bank 470,000 shares at 135 rupees, Tokyo Cement 481.800 shares at 42 rupees and Nawaloka Hospitals 10 million shares at 3.80 rupees.

Colombo’s benchmark All Share Price Index closed down 79.21 points or 1.13 percent at 6,951.64 while the Milanka Index of liquid stocks closed down 1.18percent (75.71points) at 6,334.41, according to stock exchange provisional figures.

Turnover was 3.1 billion rupees.

PC House, an IT firm, closed at 20.20 rupees up 20 cents with 32.3 million shares traded for 704.6 million rupees showing the most turnover for the day.

Colombo Land closed at 65.60 rupees after rising 73.40 rupees in intra-day trading up 70 cents with 6.8 million shares traded for 458.9 million rupees.

Price band restricted HVA Foods and Multi Finance was rose to their maximum 10 percent level. HVA Foods closed at 36.10 rupees up 9.73 percent and more than 9.9 million shares were changing hands for 353 million rupees.

Multi Finance closed at 49.60 rupees up 9.98 percent.