Sri Lankan stocks fall 0.39 percent

July 10, 2012 (LBO) – Sri Lankan stock prices remained in the red, despite large deals in Confifi Hotel, Hatton National Bank and Aitken Spence that helped swell Tuesday’s turnover, brokers said. Hatton National Bank’s non-voting stock gained 2.80 rupees to 92.80 rupees on 2.34 million shares. Brokers said a large block of 1.22 million shares changed hands at 93.00 rupees (3.00 rupees over the market rate).

Conglomerate Aitken Spence Holdings PLC gained 1.60 rupees to 115.00 rupees on 493,407 shares. Brokers said a parcel of 300,000 shares changed hands at 115.00 rupees (1.70 rupees over the market price) during mid-day trading.

John Keells Stockbrokers said the Confifi, HNB and Aitken Spence trades accounted for over 65.00 percent of the day’s turnover.

Elsewhere, Sinhaputhra Finance PLC announced a dividend of 2.00 rupees while Trade Finance and Investment PLC said it planned to pay out 0.65 cents per share as dividends. Colombo’s benchmark All Share Price Index dipped 0.39 percent or 19.46 points to 4,905.60, according to Colombo Stock Exchange figures. The main index is down nearly 19 percent since January.

The Milanka Price Index slipped 0.51 percent or 22.31 points to 4,338.35, while the liquid S&P Sri Lanka 20 indice dropped 0.10 percent or 2.90 points to close at 2,793.56, figures showed.

The day’s turnover ended at 914.16 million rupees of which foreign purchases amounted to 266.95 million rupees over sales of 10.94 million rupees.

Confifi Hotel’s dominated the turnover, on a one-off deal of 2,088,240 shares at 167.00 rupees. The share closed down at 167.00 rupees down 25.90 rupees on 2.09 million shares. Brokers believe the buyer and seller were linked to the LOLC Group.