Sri Lanka stocks flat, turnover third lowest for the year

Chandi Dharmaratne

May 17, 2012 (LBO) – Sri Lankan share prices were virtually flat on Thursday, with a lack of investor appetite, when trading dominated by small sized stocks, brokers said. Colombo’s broader All Share Price Index, crept up 0.01 percent or 0.76 points to close at 5,214.44, while the more liquid Milanka Price Index slipped 3.15 points down to end at 4,679.92, according to Colombo Stock Exchange figures.

Thursday’s turnover was a dismal 168.4 million rupees, from an average 400.0 million rupees witnessed in the past two weeks.

Turnover last slipped to 100.0 million rupee levels on April 9, when sales of 132.9 million rupees were noted.

Blue Diamonds Jewellery Worldwide PLC dominated Thursday’s trading, netting in revenues of 11.78 million rupees. The counter slipped 10-cents to 2.10 rupees on trades of 5.3 million shares.

P C Pharma Limited, was up 30-cents to 15.30 rupees on trades of 707,500 shares.

Amana Takaful PLC, the country’s pioneering insurer, accounted for 9.1 million rupees of the day’s turnover. The counter closed flat at 1.90 rupees over trades of 5.1 million shares.