Sri Lanka’s stocks close marginally lower

April 29, 2008 (LBO) – Sri Lankan stocks closed lower Tuesday with investor sentiment gloomy owing to war jitters and a fall in the price of heavyweight John Keells Holdings, brokers said.

Market activity was lower with trade volume less than ten million shares. Total turnover was 239.8 million rupees. Colombo Stock Exchange All Share Price Index closed 0.27 percent (7.07 points) lower at 2,631.01 points and the Milanka Index closed 0.21 percent (6.90 points) lower at 3,239.63 points, CSE provisional data showed.

The indices were dragged down following the foreign dealings in John Keells Holdings (JKH) shares.

The JKH share closed 50 cents lower at 117.25 after peaking at 118.00 with 598,870 traded during the day.

Mobile operator Dialog Telekom closed 25 cents higher at 16.00 rupees.

Lower retail activity was seen on a majority of counters but Balangoda Plantations share was up 50 cents at 42 rupees with 393,400 shares changing hands.

Ceylon Tobacco Company’s share gained 50 cents to close at 64.50.

Apart from the war, the traditional New Year holidays that has just ended is still keeping investors on the sidelines, brokers said.

Environmental Resources Investment PLC, formerly Walker and Greig, closed one rupee lower at 22.25.