Sri Lankan stocks down 0.06-pct

Aug 31, 2009 (LBO) – Sri Lankan shares closed flat Monday as retail investors took profits from last week’s gains in the hotel sector, but placed bets on selected high value counters and midcap stocks, brokers said. Environmental Resource Investments normal shares closed at 42.75 rupees, up 3.25 with 1.19 million shares changing hands.

Sri Lanka’s largest celco Dialog Telekom closed flat at 5.75 rupees, while fixed line operator Sri Lankan Telecom closed at 41.75 rupees, down 50 cents.

Samapth Bank closed at 145.00 rupees, up 1.25, while National development Bank close at 166.50 rupees, up 50 cents.

Hatton National Bank closed at138.00 rupees, up 3.00, while Housing Development Finance Corporation Bank closed at 96.25 rupees, up 50 cents.

Royal Palms Beach Hotel closed at 65.00 rupees, down 5.00, while Tangerine Beach Hotel closed at 71.50 rupees, down 1.00.

Kelani Tyres closed at 42.75 rupees, down 1.50 with 5,600 shares changing hands, while Lanka Aluminium closed at 28.75 rupees, down 50 cents.

The benchmark Colombo All Share Price Index (ASPI) closed down 0.06 percent (1.48 points) to close at 2,600.02 while the Milanka index of liquid stocks gained 0.24 percent (6.98 points) to close at 2,957.51, according to provisional stock exchange data.

Turnover was 583.7 million rupees.

On Monday there were net foreign outflows worth 39.37 million rupees, with foreign investors buying 50.38 million worth shares and selling shares valued at 89.75 million rupees, brokers said.

“Environmental Resource Investments shares made large gains with the announcement of an acquisition of South African-based platinum mining company Environmental Resources Limited,” Nirodha Bohingamuwa of Bartleet Mallory Stockbrokers said.

“Retail investors were seen taking profits from last week’s gains.”

Brokers said 2.49 million Environmental Resource Investments (formerly Walker & Grieg) warrants changed hands. It closed at 25.75 rupees, up 4.50.

Another 2.47 million Environmental Resource Investments warrants changed hands. It closed at 25.25 rupees, up 4.50.

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