Sri Lanka stocks up slightly

(From left) Dharmasri Kumaratunga, Director - Payments and Settlements, Central Bank; Nanda Fernando, Managing Director, Sampath Bank; and Tharaka Ranwala, Head of Operations and Group Chief Marketing Officer, Sampath Bank

Jan 02, 2012 (LBO) – Sri Lankan stocks were barely changed Monday with a deal in a bank in which foreigners have been selling out propping up turnover, brokers said. York Arcade Holdings was the most actively traded stock, closing at 30.40 rupees, up 5.20 with 840,700 shares done.

Transactions in Hayleys also added to the turnover, with the stock closing at 390 rupees, up 15 rupees and 125,700 shares changing hands. The main All Share Price Index was up 0.01 percent (0.45 points) to 6,074.87, while the more liquid Milanka index rose 0.21 percent (10.76 points) to 5,239.92.

Turnover was 420 million rupees, according to stock exchange provisional figures.

Commercial Bank once again topped the turnover with 601, 200 shares traded, including a crossing or off-market private deal of 550,000 shares at 100 rupees each.

Foreign investors have been selling out of the bank in recent weeks. It closed at 101 rupees, up a rupee.

Trans Asia Hotels was the biggest loser of the day and third most actively traded stock, closing down 8.50 rupees or 11 percent at 71 rupees with 267,900 shares traded having hit a high of 72.50.

Udapussellawa Plantations was the second biggest loser, ending at 30.10 rupees, down 1.90.