Sri Lankan shares becalmed; Lanka Cement up

May 02, 2008 (LBO) – Sri Lankan shares closed virtually flat Friday in thin trading with Lanka Cement, which has been moving on speculative trading, ending firmer, brokers said. The All Share Price Index was barely changed, up just 2.78 points (0.11 percent) to 2,635.74 while the more liquid Milanka index fell 1.98 points (0.06 percent) to 3,235.30. Turnover fell to 122 million rupees from 212 million rupees Wednesday.

Lanka Cement went up 75 cents (5.36 percent) to 14.75 rupees with 2.1 million shares traded and accounting for 31 million rupees of the day’s turnover.

Investors have been trading in the share since reports emerged that India’s Birla group wants to revive its cement plant in northern Jaffna.

Ceylon Hotels Corporation ended up four rupees or 16.84 percent at 28 rupees with 739,200 shares traded while Agalawatte Plantations closed up 1.25 rupees at 44.50 rupees with 230,100 shares changing hands. .