Sri Lankan stocks slip 0.44 percent

July 05, 2012 (LBO) – Sri Lankan shares ended 0.44 percent lower on Thursday, on volumes of 25.7 million shares, with turnover driven by Malaysia’s Dialog Axiata Plc, brokers said. Commercial Bank, one of the country’s most profitable lender, saw its non-voting stock rise 40 cents to 74.00 rupees on 366,265 shares.

Elsewhere, Lanka Walltiles PLC, announced a final dividend of 3.00 rupees per share.

Asian Alliance Assurance PLC announced that Ranil Pathirana, has resigned from his post as non-executive director from June 28, 2012. The benchmark All Share Price Index dipped 21.97 points to 4,924.61, the liquid25-stock Milanka Price Index eased down 0.35 percent or 15,39 points to 4,357.66, while the S&P Sri Lanka index, which tracks the 20-most liquid stocks slipped 0.42 percent or 11.92 points to 2,797.39, according to Colombo Stock Exchange figures.

Thursday’s turnover ended at 332.71 million rupees, with foreign buying worth 183.85 million rupees over sales of 104.43 million rupees, official figures showed.

Dialog, Sri Lanka’s largest cellular operator, saw a single trade of 7.5 million shares trade at 6.20 rupees. The stock closed flat at 6.20 rupees on trades of 13.72 million shares.

Chevron Lanka, the island’s dominant lubricant operator, fell 1.60 rupees to 170.00 rupees on 328,471 shares.