Sri Lanka shares barely changed in thin trade

Jan 07, 2009 (LBO) – Sri Lankan shares ended marginally firmer Wednesday with volumes falling even further and speculative trading in Lanka Cement which said it had resumed cement sales.

To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678

The All Share Price Index edged up 0.04 percent (0.60 points) at 1,550.07 while the more liquid Milanka gained 1.12 percent (18.59 points) to end at 1,672.94.

Turnover was 47 million rupees.

Lanka Cement was the most actively traded stock with 289,600 shares traded and the share ending up 25 cents at eight rupees.

The company said in a stock exchange filing that it believed the recent increase in share trading volumes and prices may have been because it has resumed cement trading and chartered a vessel to ship supplies to northern Jaffna.

Lanka Cement owns a defunct cement factory in Jaffna that Holcim’s local unit, and India’s Birla and Ramco, have expressed interest in reviving.

Bogala Graphite, which announced a loss in the September quarter as sales dropped drastically, fell over eight percent or one rupee to 10.25 rupees.

Dialog Telekom rose 25 cents to six rupees, John Keells Holdings gained 25 cents to 50.25 rupees and Distilleries Company ended up two rupees at 56 rupees.

Notify of
Inline Feedbacks
View all comments