Sri Lanka stocks down 0.57 percent

Directory launched in the presence of Jagath Perera, CA Sri Lanka President, Manil Jayesinghe, CA Sri Lanka Vice President, Harsha Basnayake, Ernst & Young Asia Pacific Transaction Advisory Managing Partner, Aruni Rajakarier, Chairperson of the CA Sri Lanka Women Empowerment Committee, Anoji De Silva, Alternate Chair of the Women Empowerment Committee and Dulani Fernando, CA Sri Lanka CEO

May 24, 2012 (LBO) – Sri Lanka’s tiny bourse extended losses on Thursday on sustained selling pressure, despite buying interest in selected counters, brokers said. The broader All Share Price Index lost 28.99 points or 0.57 percent to end at 5,019.12, while the liquid Milanka Price Index fell 22.83 points or 0.49 percent to close at 4,545.68, according to Colombo Stock Exchange figures.

Thursday’s turnover was a modest 296.5 million rupees, official data showed.

Turnover was dominated by market heavyweight John Keells Holdings PLC, which closed up 90 cents to 197.00 rupees. A total of 606,065 JKH shares changed hands on Thursday.

Brokers said a parcel of 600,000 JKH shares crossed the floor at 198.00 rupees during early trade.

Lanka IOC, a unit of Indian Oil Corporation, was up 1.00 rupee to 17.50 rupees on trades of 1.12 million shares.

Ceylon Leather fell 30-cents to 75.00 rupees on trades of 126,254 shares.