Sri Lankan stocks close 0.51-pct down on profit taking

June 22, 2010 (LBO) – Sri Lankan stocks closed down Tuesday as retail investors took profits while penny stocks continued to be heavily traded, brokers said. The All Share Price Index closed at 4,634.73, down 23.95 points, while the Milanka index of more liquid stocks fell 0.67 percent (35.95 points) to close at 5,303.81.

Turnover was 2.6 billion rupees, according to stock exchange provisional figures.

Penny stocks continued to be heavily traded, brokers said.

Seylan Merchant Bank closed at 1.60 rupees, up 10 cents with 6.6 million shares traded, while Blue Diamond Jewellery Worldwide closed at 2.50 rupees, up 10 cents with over one million shares changing hands, brokers said.

Hayleys closed at 305.50 rupees, down 4.25 rupees on low volume trading, Hemas Holdings closed at 176.00 rupees, down 25 cents and John Keells Holdings, an index heavy stock, closed at 205.75 rupees, up 75 cents.

Commercial Bank closed at 194.50 rupees, up 25 cents, Hatton National Bank closed at 292.00m rupees, up 1.25, Nations Trust Bank closed at 49.50 rupees, down 25 cents, Sampath Bank closed at 331.00 rupees, down 3.75 and Seylan Bank closed 81.00 rupees, up 2.25 with almost 460,000 shares traded.

National Development Bank closed at 250 rupees, up 1.75 and DFCC Bank closed at 266.00 rupees, down 2.50.

Sri Lanka Telecom, a fixed line operator, closed at 38.50 rupees, up 50 cents, and Dialog Telekom closed flat at 10.00 rupees, with 6.67 million shares traded.

Corrected – The Colombo Stock Exchange (CSE) website had been stuck at the time the original ‘Trading Tuesday’ story was published, making its numbers inaccurate – the error is regretted.