Sri Lanka stocks weaken further

June 2, 2008 (LBO) – Sri Lanka stocks closed 0.43 percent lower Monday, dragged down by the fall in prices of index-heavy shares like John Keells Holdings and Sri Lanka Telecom, brokers said. The All Share Price Index (ASPI) closed 0.43 percent (10.95 points) lower at 2,527.41 points while the Milanka Index shed 0.53 percent (16.31 points) to close at 3,050.57. Total turnover was 218.8 million rupees.

Strategic trading was seen in John Keells Holdings (JKH) with a block of 400,000 shares traded at 114.00, brokers said.

JKH closed 50 cents down at 114.50 with the day’s transactions adding 47.56 million rupees to total turnover.

Sri Lanka Telecom lost 25 cents to close at 48.75 rupees. SLT trades added 11.39 million rupees to the total turnover.

Aitken Spence closed flat at 550.00 with 25,000 shares traded which added 13.75 million rupees to turnover.

Tree firm Touchwood closed 2.00 rupees higher at 95.25 with transactions amounting to 32.56 million rupees.

Retail activity was seen on plantations stocks.

Watawala Plantations lost 6.50 rupees to close at 77.00, Agalawatte Plantations traded one rupee higher at 40.75 while Horana Plantations closed up 1.75 at 38.00 rupees.