Sri Lanka stocks close 1.04-pct lower

Jan 04, 2012 (LBO) – Sri Lanka’s stocks fell 1.04 percent Wednesday in thin trade with steep falls in some small cap speculative stocks as the market failed to maintain the momentum seen in the last week of December, brokers said. The benchmark Colombo All Share Index fell 62.90 points (1.04 percent) to 5,972.7 points and the Milanka Index of liquid stocks fell 53.39 points (1.03 points) to 5,120.8 points.

Turnover was 459 million rupees.

Colombo Stocks rose in the last week of December to top a psychological 6,000 point mark.

Environmental Resource Investments, a prolific issuer of warrants which is tightly held by insiders fell 4.10 rupees to 33.40 rupees. Its W0002 warrant fell 1.90 rupees to 12.26 and its W0003 warrant fell 2.20 to 15.20 rupees.

Asian Alliance Insurance fell 8.00 rupees to 161.00, Colombo Pharmacy fell 57.30 to 1,108.70, Colonial Motors fell 14.30 rupees to 390 rupees and Hayleys fell 17.50 to 372.50 rupees with 200 shares traded.

Beruwala Wall Inn rose 7.90 t0 153.00 rupees, Ceylinco Insurance rose 27.20 to 328.20 rupees with 110 shares traded, CDIC rose 12.90 to 322.90 with 100 shares traded

Ceylon Tobacco fell 9.00 rupees to 481.00, Commercial Bank fell 10 cents to 100.70, HNB fell 1.00 rupee to 150.00, Dialog Axiata closed flat at 7.70 rupees and Aitken Spence fell 2.60 to close at

People’s Leasing Company, said its employees will transfer 54.6 million shares held by them to the parent People’s Bank following approval from the regulator.

The stock was originally to have been given to employees on the firm’s public listing.