Sri Lanka stocks end down 0.5-pct

Sri Lankan Police forming a human chain in parliament to protect the Speaker and enable a vote.

Sept 21, 2011 (LBO) – Sri Lankan stocks slumped again Wednesday with the benchmark index slipping below the 6,800 point mark amid heavy trade in a newly listed firm and several off-market private deals, brokers said. The main All Share Price Index fell 0.53 percent (36.26 points) to 6,792.31, while the more liquid Milanka index fell 0.51 percent (31.42 points) to close at 6,137.80, according to stock exchange figures.

Turnover was two billion rupees.

Softlogic Capital, which started trading Wednesday at its reference or indicative price of 40 rupees, hit a high of 75 before closing at 46.50 rupees, up 6.50 or 16 percent, with over 1.1 million shares traded.

The Finance Company was the most actively traded stock and accounted for the highest turnover – of 1.2 billion rupees – with over 8.8 million shares done, closing at 45.40 rupees, up 6.50, after hitting a high of 47.

There were two crossings or off-market private deals of 2.9 million shares at 48 rupees a share.

Laugfs Gas was also heavily traded, closing flat at 43 rupees with 2.5 million shares done, including several crossings at 43 rupees a share.

Regnis (Lanka) accounted for the day’s third highest turnover, with 369,400 shares traded, closing at 232.50 rupees, up 17.10.

There were also four crossings of Dialog Axiata of three million shares each, all at 8.50 rupees share. Dialog closed at 8.50, up 10 cents