Sri Lanka stocks end down 0.4-pct

Oct 27, 2011 (LBO) – Sri Lankan stocks closed lower Thursday, losing more gains of a two-day upswing in which prices were pushed up amid reports of an attempt to oust a regulator fighting equities fraud, brokers said. The main All Share Price Index fell 0.35 percent (22.46 points) to 6,323.59, while the more liquid Milanka index eased 0.06 percent (3.44 points) to close at 5,650.91, according to stock exchange figures.

Turnover fell to 534 million rupees.

“The market sentiment eroded further with investor participation seeing a distinct
reduction,” SC Securities said in a report.

Market turnover was the lowest for this year, they said.

Trade Finance & Investments (TFIL), which started trading Thursday, was the most actively traded stock, closing unchanged at the opening price of 20 rupees after hitting a high of 26.

Over 2.29 million shares were traded accounting for the second highest turnover.

TIFL had sold six million new shares to the public at 20 a share on in September 2011.

HVA Foods was the second most heavily traded stock, closing at 41.50 rupees, down 70 cents with 719,700 shares done.

Trading in John Keells Holdings accounted for the biggest turnover. It closed at 190.50 rupees, up 50 cents with 468,900 shares traded.

Bogala Graphite was the biggest loser, closing at 42.50 rupees, down 5.40 rupees, with 3,000 shares traded.

Talawakelle Tea Estates fell three rupees to close at 28.20 rupees on just 300 shares.

Kotagala Plantations led the gainers with just 100 shares traded, rising 12 percent or 10 rupees to close at 93.90.

Infrastructure Developers, which has had an unusual run, its price doubling in just three days, was the second highest gainer, rising even higher to close at 90.20 rupees, up 8.20, with 1,000 shares traded.

On Tuesday, Infrastructure Developers had risen 50 percent on the back of a 50 percent rise on Monday when it had been the day’s highest gainer in thin trade.

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