Sri Lanka stocks extend losses in broad sell-off

Jan 19, 2010 (LBO) – Sri Lankan stocks fell 1.2 percent Tuesday in a broad sell-off that as buyers awaited third quarter results and kept an eye on presidential polls due next week, brokers said.

MTD Walkers, a Malaysian controlled construction firm, extended gains closing 43.00 rupees higher at 425.75 rupees.

In brief stock exchange filing yesterday the firm said its Malaysian parent, MTD Capital Bhd, was “evaluating various options of restructuring MTD Group investment in Sri Lanka.”

Aitken Spence Hotel Holdings fell 10.25 to 329.75 and Confifi Hotel Holdings fell 4.50 to 165.00 rupees.

The benchmark Colombo All Share Index closed 1.28 percent lower falling 45.25 index points to 3,483.30 The Milanka index of liquid shares closed 1.56 percent lower, falling 63.51 points to 4,010.51.

On Monday stock retreated 0.97 percent. Turnover was 739.8 million rupees Tuesday.

Environmental Resource Holdings that had seen speculative buying in recent days retreated 10.25 to 106.00 rupees. Its ‘000’ warrants fell back 6.75 rupees to 84.75 and its ‘001’ warrants also slumped 7.50 to 85.75 rupees.

E B Creasy, closed at 205.50 rupees down 19.75, Diesel and Motor Engineering closed at 273.50 down 6.50 rupees.

Distilleries, a diversified firm fell 1.75 to 115.75 rupees, John Keells Holdings fell 3.50 to 174.50.

Dialog Telecom, a unit of Malaysia’s Axiata was flat at 6.75 rupees, and Sri Lanka Telecom closed at 41.75 up 25 cents.