Sri Lankan stocks down 0.07 percent

July 09, 2012 (LBO) – Sri Lankan stocks closed down 0.07 percent on Monday, despite investor interest in selected stocks like Carsons Cumberbatch PLC, brokers said. LOLC Group, which has investments in leasing and financial services, saw 214,100 shares trade. But the stock closed down 10 cents to 37.10 rupees.

Overseas Realty, the Singaporean owners behind Colombo’s iconic Twin Tower office complex, saw its share price rise 20 cents to 13.50 rupees on 582,542 shares.

Keells Food Products PLC announced a rights issue of two new ordinary shares for every one share held at a price of 60.00 rupees. The company is offering 17 million new shares, to raise a billion rupees to buy another meat processing firm and upgrade facilities.

Elsewhere, Seylan Bank PLC said its raising a billion rupees in debt via a private placement, with an option to raise another 10 million rupees in the event of an over-subscription. The broader All Share Price Index dipped 3.58 points to end at 4,925.06, while the liquid 25-stock tracker Milanka Price Index edged up 0.98 points to close at 4,360.66, according to Colombo Stock Exchange figures.

The S&P Sri Lanka indice, which tracks the 20 most liquid stocks, dipped 0.05 points to end at 2,796.46, official figures showed.

Monday’s turnover ended at 125.14 million rupees of which foreign buying accounted for 10.84 million rupees over foreign sales of 19.30 million rupees.

Turnover was dominated by Carsons, which saw 43,006 share change at 462.90 rupees down 70 cents.

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