Sri Lankan stocks down 0.73-pct


July 08, 2009 (LBO) – Sri Lankan shares fell for the seventh straight trading day Wednesday as investors took defensive positions, while some of the plantation companies were pushed up by retailers, brokers said. Commercial Bank of Ceylon closed at 130.50 rupees, down 1.50, while Distilleries Company of Sri Lanka closed at 86.00 rupees, down 1.50.

DFCC Bank closed at 131.00 rupees, down 1.75.

Sri Lanka Telecom closed at 46.50 rupees, down 25 cents, while celco Dialog Telekom, a unit of Telekom Malaysia closed flat at 5.25 rupees.

The spot dollar remained unchanged at 114.90/95 rupees in late afternoon trade, dealers said.

The benchmark Colombo All Share Price Index closed down 0.73 percent (17.54 points) to end at 2,374.57 while the Milanka index of liquid stocks lost 0.64 percent (17.15 points) to close at 2,665.52, according to provisional stock exchange data.

Turnover was 172.7 million rupees.

“The market is generally weak in the absence of foreign buying,” Mohandas V Thangarajah of First Guardian Equities said.

“We expect this sentiment to continue until we see some positive news to come from the international markets and locally as well.”

Talawakelle Tea Estates closed at 26.75 rupees, up 1.75, while Tea Small Holder Estates closed at 100.00 rupees, up 4.75.

Elpitiya Plantations closed flat at 21.00 rupees, while Madulsima Plantations closed at 14.50 rupees, 75 cents.

Maskeliya Plantations closed flat at 18.50 rupees, while Watawala Plantations closed at 71.50 rupees, up 1.50.

Malwatte Valley Plantations closed at 28.75 rupees, down 50 cents.

Conglomerate John Keells Holdings closed at 132.50 rupees, down 1.00.

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