Sri Lanka stocks extend losses

Oct 06, 2010 (LBO) – Sri Lanka’s stocks extended losses Tuesday falling 1.84 percent on the wake of 1.3 percent fall a day earlier, in a bout of profit taking after Colombo briefly became the best performing stock in the world last week, brokers said. Commercial Bank fell 6.10 to 274.00 and Distilleries fell 3.70 to close at 180.00 rupees.

According to provisional stock exchange data, the benchmark All Share Index fell 128.3 points to 6,862.67 and the Milanka Index of liquid stocks fell 158.98 (down 2.07 percent) to 7,520.96.

Top gainers included Colombo Pharmacy, a land-rich pharma retailer which closed at 1,989.90 up 170 rupees, Central Industries, a PVC pipe maker, up 12.20 cents to 364.00 rupees and LB Finance up 7.20 cents to 282.00 rupees.

Hotel Developers, which owns the Colombo Hilton, closed up 6.10 cents at 149.80 rupees.

Among the top losers were The Finance Company fell 7.40 rupees to 51.50 after the troubled firm, which is under regulator management said it would convert some deposits to equity.

Renuka City Hotels fell 48.60 rupee to 350.00 rupees, Seylan Merchant Leasing fell 20 cents to 1.90 rupees, Kandy Hotels fell 25.80 to 245.00, Muller and Phipps, 20 cents to 1.90 cents, Ceylon Guardian fell 112.30 to 1,210.10 cents.

Carsons fell 42.70 to 910.00, John Keells Holdings fell 8.10 cents to 330.00, Central Finance fell 35.20 to 825.00, Aviva Insurance fell 23.20 rupees 301.20 rupees, Lanka Orix Leasing fell 19.10 cents to 1310.00, DFCC Bank 12.40 to close at 460.00.