Sri Lanka stocks stagnant

Image courtesy of Sanjeewa Dayarathne (www.Feedback.lk)

Sep 02, 2011 (LBO) – Sri Lanka’s stock market remained stagnant Friday after two big deals sent indices and turnover up sharply Thursday, brokers said. The main All Share Price Index closed at 6,950.61, down 0.01 percent (0.89 points) while the more liquid Milanka index fell 0.07 percent (4.64 points) to close at 6,297.12, according to stock exchange figures.

Turnover was three billion rupees.

Hayleys, a conglomerate in which its deputy chairman Dhammika Perera Thursday increased his stake by buying shares owned by a subsidiary, closed at 389.80 rupees, up 8.40, with 95,200 shares traded.

Perera Thursday also sold a 51 percent stake he held in Amaya Leisure to Hayleys for
2.6 billion rupees.

Tea exporter HVA Foods, which has been the subject of speculative trading in recent weeks, climbed higher to close at 69.30 rupees, up 6.30, with 1.2 million shares done.

John Keells Holdings, a conglomerate which Thursday announced a joint venture to build a 2.9 billion rupee hotel for business travellers in Colombo, closed at 216.10 rupees, up 1.10, with 164, 200 shares done.

Blue Diamonds Jewellery Worldwide was actively traded, closing at 11.20 rupees, up 2.40, with 39.8 million shares changing hands.

The sole crossing or off-market private deal for the day was 416,500 shares of Citizens Development Business Finance at 76 rupees each. It closed at 75 rupees, down 1.90, with 2.1 million shares traded.