Lanka Business Online

Sri Lanka stocks close down 0.7-pct

Nov 22, 2010 (LBO) – Sri Lanka stocks closed down 0.75 percent Monday, with interest shown by both the institutional and retail traders, brokers said.

The All Share Price Index closed at 6,515.80, down 0.75 percent (49.20 points) while the Milanka index of liquid stocks dipped 0.53 percent (37.49 points) to close at 7,077.94, according to stock exchange provisional figures.

Turnover was 1.5 billion rupees.

“The positive news on the banking sector tax reductions came too close to the market close to have an impact on the day’s trading. The reduction of VAT (value added tax) on financial services in particular was a very welcome move,” Nikita Tissera of S C Securities said.

Among banks Sampath closed at 269.00, down 1.20 rupees, Commercial Bank closed at 274.00, up 2.30 and DFCC closed flat at 205.50.

John Keells Holdings closed at 301.00, up 1.00 rupee with a million shares changing hands. Hayleys closed at 350.10, down 2.00 rupees.

Aitken Spence closed at 177.30, down 0.70 cents.

Piramal Glass Ceylon closed at 5.40, up 0.40 cents with 5.5 million shares changing hands.

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