Sri Lanka stocks end down 0.6-pct

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

Sep 06, 2011 (LBO) – Sri Lankan stocks closed lower Tuesday, failing to hold on to Monday’s gain, with interest in an investment firm and a tea exporter, brokers said. There was also a crossing of 766,000 Odel shares at 38 rupees each. It closed at 38, up 20 cents.

Newly listed Textured Jersey Lanka was also heavily traded and rose above its IPO price to close at 15.10 rupees, up 30 cents, with 4.6 million shares done. The main All Share Price Index fell below the 7,000 point mark to close at 6,956.21, down 0.60 percent (41.82 points) while the more liquid Milanka index fell 0.53 percent (33.83 points) to close at 6,293.08, according to stock exchange figures.

Turnover was 3.2 billion rupees.

Browns Investments was one of the most heavily traded stocks, closing at 5.50 rupees, up 20 cents, with 84.9 million shares changing hands. There was a crossing or off-maket private deal of 16.1 million shares at 5.70 rupees.

East West properties closed at 48.30 rupees, down 10 cents, with five million shares done, after hitting a high of 50 rupees.

Tea exporter HVA Foods closed at 75.10 rupees, down 1.10, with 2.5 million shares traded.

The share, which has had a phenomenal rise in recent weeks, hit a high of 82.50 rupees during the day.

There was a crossing of 2.45 million shares of Expolanka Holdings at 13.30 rupees. It closed flat at 12.80.