Sri Lanka stock close 0.5-pct lower

ComBank MD S. Renganathan (Centre) introducing the app to CB Governor Indrajit Coomaraswamy in the presence of (from L) ComBank Manager - Card Centre Seevali Wickramasinghe, Head of Card Centre Thusitha Suraweera, Deputy GM – Marketing Hasrath Munasinghe, CB Assistant Governor Ananda Jayalath and CB Director - Payments & Settlements Dharmasri Kumaratunge

May 23, 2011, 2011 (LBO) – Sri Lanka stocks closed weaker Monday, amid broad sell-off though heavy trading in Colombo Land shares boosted activity, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed down 0.54 percent to end at 7439.15 (40.48 points), while the Milanka index of liquid stocks dropped 0.39 percent (26.60 points) to close at 2,853.39 according to stock exchange data.

Turnover was 2.9 billion rupees.

Colombo Land, owners of Colombo’s Liberty Plaza, and People’s Park shopping complexes closed up 11.70 rupees at 31.80,with 31 million shares changing hands.

On Friday, Imagewize, a controlling shareholder of listed Citrus Leasure, and Kalpitiya Resorts a subsidiary bought a 20 percent stake in the firm from a founder Singapore based shareholder.