Sri Lankan stocks 1.58-pct down

Mar 16, 2010 (LBO) – Sri Lankan stocks ended lower Tuesday dragged down by falls in speculative and retail driven stocks, brokers said. The All Share Price Index closed at 3,782.84, down 1.58 percent (60.71 points) Tuesday, while the Milanka index of more liquid shares dived 2.35 percent (104.22 points) to close at 4,335.39.

Turnover was 2.14 billion rupees, according to stock exchange provisional figures.

“John Keells Hotels shares fell sharply after its parent JKH disposed a rights allotment,” Thakshila Hulangamuwa, vice president at Asha Phillip Securities said.

“Speculative and retail driven stocks also turned negative after the initial fall.”

John Keells Hotels closed at 18.50 rupees, down 7.00, Aitken Spence Hotel at 409.75 rupees, down 25 cents, Asian Hotels and Properties closed at 135.00 rupees, down 1.75, and Confifi Hotel Holdings closed at 186.75 rupees, up 12.00.

Hunas Falls Hotels closed at 52.00 rupees, down 2.00, Kandy Hotels Company closed at 121.00 rupees, down 1.50, Sigiriya Village Hotels closed at 44.00 rupees, down 1.00 and The Lighthouse Hotel closed at 80.00 rupees, down 6.00.

John Keells Holdings closed at 169.75 rupees, up 75 cents, Aitken Spence closed at 1,385.00 rupees, up 20 and Hayleys closed at 230.25 rupees, down 3.50.

Commercial Bank of Ceylon closed at 192.00 rupees, down 50 cents, Hatton National Bank closed at 181.25 rupees, down 75 cents, Seylan Bank closed at 46.50 rupees, up 25 cents and Nation Trust Bank closed at 36.75 rupees, up 25 cents.

Environmental Resources Investments ordinary voting shares closed at 257.50 rupees, down 6.75. Its 0000 warrants closed at 156.50 rupees, down 5.50, and 0001 warrants closed at 156.50 rupees, down 6.00.

Retailer favourite Touchwood Investment closed at 105.50 rupees, down 4.00, and Lanka Cement closed at 27.25 rupees, down 50 cents.

Ceylon Tea Brokers commenced trading at the Colombo Stock Exchange Tuesday and closed at 4.50 rupees, up 2.50.