June 07, 2011 (LBO) – Sri Lankan shares fell for the second straight day Tuesday with money drained from the market by forthcoming share issues and heavy trading again in mini hydro firm Panasian Power and in rarely traded Hunter & Co. Blue Diamonds Jewellery Worldwide fell 10 cents to close at 4.80 rupees with over 38 million shares traded. The main All Share Price Index closed at 7,294.54, down 0.83 percent (60.89 points) while the more liquid Milanka index came down 0.65 percent (44.25 points) to close at 6,795.23, according to stock exchange figures.
Turnover was 4.1 billion rupees.
Free Lanka Capital Holding was the highest contributor to the day’s turnover with 129.7 million shares traded, adding 669.7million rupees to turnover. It rose 10 cents to close at five rupees.
Panasian Power closed at 7.50 rupees, down 0.80 or 9.64 percent with 80.9 million shares worth 633.7 million rupees changing hands, the second biggest contributor to the day’s turnover.
Brokers said four million Panasian Power shares went in a single crossing at 7.90 rupees each.
Hunter & Company Limited shares fell to 1,174.70 rupees, down 41.24 percent or 824.30 rupees. Hunter & Company has only 5.15 million shares in issue and 70 percent owned by a single share holder.
John Keels Holdings closed at 300.60 rupees, up 0.60 cents with just over one million shares done of which 950,600 shares went in a single crossing at 300.00 rupees each.
Over 85 million shares in SMB Leasing also traded and it closed at 2.40 rupees, down 10 cents. E-Channeling rose 0.20 cents to close at 4.90 rupees with over 28 million shares traded.