Sri Lankan stocks down 0.12%

July 04, 2012 (LBO) – Sri Lankan share prices slipped into the red on Wednesday, despite a one-off trade in Nestle Lanka Plc, brokers said. The broader All Share Price Index dipped 6.35 points or 0.13 percent to 4,946.58, the liquid Milanka Price Index slipped 31.11 points or 0.71 percent to 4,373.05, and the S&P Sri Lanka 20 index fell 1.06 points or 0.04 percent to close at 2,809.31.

Wednesday’s turnover of 377.99 million rupees, was largely driven by trades in Nestle Lanka and conglomerate John Keells Holdings, according to Colombo Stock Exchange figures.

The market reported foreign buying worth 279.24 million rupees over sales of 115.18 million rupees.

Conglomerate John Keells Holdings, with investments ranging from ports to financial services, gained 90 cents to 185.00 rupees on volumes of 622,250 shares.

Brokers said two large parcels of 140,500 and 350,000 of JKH changed hands at 185.00 rupees each which was 50 cents above the market price.

Commercial Bank of Ceylon Plc, one of the island’s most profitable lenders, saw its non-voting stock fall 10 cents to 73.20 rupees on 935,578 shares. Brokers said a large block of 689,190 shares early traded at 74.00 rupees, 30 cents over the market price.

Dairy giant Nestle, a largely illiquid stock, gained 65.70 rupees to close at 1,150.00 rupees on trades of 47,525 shares.

DFCC Bank disclosed that one of its director’s, J E A Perumal had bought 12,145 shares in the bank on Monday at an average price of 108.75 rupees per share.