Sri Lankan stocks close flat

Chandi Dharmaratne

June 17, 2010 (LBO) – Sri Lankan stocks closed flat Thursday with Dialog Telekom shares heavily traded, brokers said.

Hatton National Bank closed at 294.00 rupees, down 1.00, Nations Trust Bank closed at 49.75, down 75 cents, Sampath Bank closed at 336.00 rupees, up 25 cents and Seylan Bank closed at 76.00 rupees, up 2.00.

Updated The All Share Price Index closed at 4,607.34, up 3.98 points, while the Milanka index of more liquid stocks fell 0.01 percent (0.76 points) to close at 5,271.47.

Turnover was 2.34 billion rupees, according to stock exchange provisional figures.

“Heavy high-net-worth and retail participation held the indices flat, while retail investors with short term horizons moved into low-value speculative stocks,” Thakshila Hulangamuwa, vice president at stock brokering firm Asha Phillip Securities said.

“Investors are concentrating on shifting and recouping their investments.”

Brokers said Dialog Telekom shares continued to be heavily traded after returning to profitability in the March 2010 quarter. It closed at 9.25 rupees, up 25 cents with 35 million shares traded.

Aitken Spence closed flat at 1,600.00 rupees, Hayleys closed at 310.75 rupees, down 1.00, Hemas Holdings closed at 17.00 rupees, down 2.00 and John Keells Holdings, an index heavy stock closed flat at 205.00 rupees.