Sri Lankan stocks close down 0.10-pct

Oct 14, 2010 (LBO) – Sri Lankan stocks slid further Thursday, after Wednesday’s early morning fall and late afternoon rally, with falls in index heavy stocks like John Keells Holdings (JKH), Hatton National Bank (HNB) and Aitken Spence, brokers said.

The Colombo All Share Index was down 0.10 percent (6.75 points) to 6,622.08 points, while the Milanka Index of more liquid stocks fell 0.39 percent (27.81 points) to 7,139.07, according to provisional Colombo Stock Exchange data.

Turnover was 2.8 billion rupees.

JKH closed at 316.80 rupees, down 3.50 (1.1 percent) on 1.13 million shares traded, while HNB closed at 391.70 rupees, down 2.00 (0.51 percent).

Lanka Orix Leasing Company (LOLC) closed at 1,298.60 rupees, down 8.90 (0.68 percent), National Development Bank closed at 351.40 rupees, down 8.80 (2.44 percent), and Nestle Lanka closed at 652.70 rupees, down 12.30 (1.35 percent) on 2,100 shares traded, brokers said.

Peoples Leasing Finance closed at 145.00 rupees, down 17.90 (11 percent) on 700 shares traded, while Royal Ceramics Lanka closed at 287.50 rupees, down 12.50 (4.17 percent).

There was ‘institutional’ buying on selected index heavy stocks, brokers said.

Aitken Spence closed at 195.10 rupees, down 4.10 (2.06 percent) on 309,400 shares changing hands, while Commercial Bank of Ceylon closed at 259.60 rupees, up 4.50 (1.76 percent) on almost 240,000 shares traded, brokers said.

Royal Palms Beach Hotels closed at 90.30 rupees, up 15.20 (20.24 percent) on 2,600 shares traded, Sathosa Motors, local agents for Isuzu Motors of Japan closed at 207.30 rupees, up 25.50 (14.03 percent) on 2,600 shares changing hands.

Shaw Wallace and Hedges closed at 249.50 rupees, up 28.10 (12.7 percent).