Sri Lanka stocks close lower; Sampath Bank trades boost turnover

Feb 29, 2008 (LBO) – Sri Lanka’s shares closed lower on Friday with index heavy Dialog Telekom and John Keells Holdings losing ground, dealers said. The All Share Index closed 0.36 percent 9.08 points) lower at 2,530.86 while the Milanka index shed 0.36 percent (11.56 points) to close at 3,172.21.

The weekly average turnover was 648.5 million rupees while the market had gained 19 points from the start of the week.

Over 1.72 million Sampath Bank shares changed hands during the day before the share closed 50 cents lower at 112.50 rupees Friday.

The Sampath Bank deal added over 191 million rupees to the turnover, increasing the total to 486.4 million rupees.

On Wednesday too there was a big transaction in Sampath Bank shares which brokers said was an internal transfer by Dhammika Perera, a key shareholder.

John Keells Holdings closed 50 cents lower at 119.50 with 469,000 shares changing hands.

In telecoms, mobile operator Dialog Telekom shed 25 cents to close at 17.75 with one million shares traded.

Around 209,000 Sri Lanka Telecom shares changed hands with the share closing flat at 34.50 rupees.

Balangoda Plantations closed one rupee higher at 35.50 rupees.