Sri Lanka stocks slump almost one-pct

July 22, 2011 (LBO) – Sri Lanka share prices closed weaker Friday, falling steeply on thin turnover after rising slightly at the opening, and recovering slightly towards the end of trading, brokers said. The main All Share Price Index closed at 6,537.25, down 0.94 percent (61.72 points) while the more liquid Milanka index fell 1.13 percent (69.19 points) to close at 6,029.75, according to stock exchange figures.

Turnover was 1.3 billion rupees.

“The market witnessed further selling which caused the All Share Price Index to plummet by more than 100 points during early trading but recovered some of the lost ground towards the end of trading,” SC Securities said.

Losses in high cap counters, including market heavy weight John Keells Holdings, which fell 2.5 percent or 5.10 rupees to end at 194.80, further dampened the market outlook, they said.

Vallibel One was the most actively traded stock, closing at 29.80 rupees, down 10 cents with over 2.9 million shares done.

Softlogic Holdings was also heavily traded, with 2.3 million shares changing hands. It closed at 24.20 rupees, down 30 cents.

Aitken Spence was also among the most traded stocks, closing at 139.90, down 60 cents with 446,800 shares done, including two crossings or off-market private deals at 140 rupees a share.