Sri Lanka stock close 0.6-pct lower

Oct 19, 2011 (LBO) – Sri Lanka’s stocks closed 0.6 percent lower Wednesday to a 13-month low while turnover fell to the lowest since July 2011, brokers said. Sampath Bank closed at 209.90 up 1.70 rupees, Commercial Bank fell 80 cents to close at 73.20, Hatton National Bank fell 0.30 cents to 190.00.

The benchmark Colombo All Share Index fell 40.80 points to 6,347.72 and the Milanka Index of liquid stocks fell 27.47 points (-0.48 percent) to close at 5,704.83.

Turnover was 689.1 million rupees, the lowest since July 04.

Brokers said key investors who engaged in micro cap fraud on thinly traded stocks were staying in the sidelines amid a crackdown by the Securities and Exchange making illiquid stocks retreat in recent days.

Motor stocks fell back Wednesday with DIMO closing at 1,219.00 down 28.70 rupees, Colonial Motors closed at 480.60 down 14.20 rupees, but United Motors closed up 50 cents at 150.10 rupees.

Asian Alliance Insurance fell 1.40 rupees to 181.00, Regnis Lanka fell 6.10 rupees to 450.40 rupees.

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