Sri Lanka shares end weaker

Apr 05, 2011 (LBO) – Sri Lankan shares closed marginally lower Tuesday with interest in poultry stocks and the finance sector, brokers said. The All Share Price Index closed at 7,370.02, down 0.04 percent (3.12 points) while the more liquid Milanka index fell 0.15 percent (10.44 points) to close at 7,022.28, according to stock exchange provisional figures.

Turnover was 2.1 billion rupees.

There was heavy trading in three poultry sector stocks.

Bairaha Farms closd at 488.50 rupees, up 54.60 with 424,100 shares done. Ceylon Grain Elevators ended at 177.30, up two rupees with 545,600 shares traded and Three Acre Farms at 184.20, up 6.50 with 370,300 shares changing hands.

Union Bank of Colombo, which debuted last week, was the most actively traded stock, closing at 35.10 rupees, down 20 cents with 671,600 shares done.

PC House was again actively traded, closing at 19.50, up 40 cents, with 1.6 millio shares done.

Nation Lanka Finance was also heavily traded, ending at 14.50, up 90 cents with over 3.6 million shares changing hands.

Lankem Ceylon said in a stock exchange filing that it has got a loan of 300 million rupees from its subsidiary Kotagala Plantations at an interest rate of nine percent a year payable quarterly. The loan is repayable after five years in March 2016.