Sri Lanka stocks close flat, telecom interest continues

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

April 03, 2008 (LBO) – Sri Lanka stocks closed flat while continued interest in Sri Lanka Telecom propped up turnover Thursday. The stock market’s All Share Index closed flat at 2,629.50 points while the more liquid Milanka Index closed 0.15 percent (4.99 points) lower at 3,310.87 points.

Over 1.77 million Sri Lanka Telecom shares were traded by investors which added over 84.9 million rupees to the total turnover of 416 million rupees. SLT was up 25 cents at 48.00.

Global Telecommunications Holdings N.V. which acquired a 35.19 percent stake of SLT from Japan’s NTT, announced the purchase of 300,000 of the remaining retail voting shares at 48 rupees per share, Thursday.

Meanwhile, Carsons and Cumberbatch Company closed 62.50 higher at 4,200 rupees.

The Bukit Darah Company shed 9.25 rupees to close at 1,600.00.

Mobile operator Dialog Telekom closed flat at 17.00 while John Keells Holdings was up 25 cents at 121.00. .