Sri Lanka stocks end down 0.2-pct

Jan 13, 2012 (LBO) – Sri Lankan stocks closed weaker Friday, losing some of the gains in Thursday’s rally, although turnover stayed above a billion rupees, brokers said. The main All Share Price Index closed down 0.22 percent (13.13 points) at 5,929.34, while the more liquid Milanka index fell 0.39 percent (19.59 points) to close at 5,046.09.

Turnover was 1.17 billion rupees, according to stock exchange provisional figures.

Shares of Environmental Resources Investments, which last week said it was delaying conversion of warrants, were again the most actively traded and closed at 33.70 rupees, down 70 cents.

ERI’s W0002 warrants were also heavily traded and fell 60 cents to close at 15.80 rupees.

Debutant Asia Asset Finance was the day’s highest gainer and second most actively traded stock with almost 41 million shares done, generating the second highest turnover.

The stock, whose issue price is 2.50 rupees, closed at 5.80 rupees, up 1.60, on the back of Thursday’s gains.

Commercial Bank, in which foreign investors have been selling out, closed at 100.10 rupees, down 20 cents with 1.3 million shares changing hand.

They included three crossings or off-market private deals of 510,000, 400,000 and 300,000 shares, all at 100 rupees each.

Index heavyweight John Keells Holdings closed up 70 cents at 164.60 rupees.