Sri Lankan stocks open the week marginally down

Dec 29, 2008 (LBO) – Sri Lankan stocks Monday opened the week with both indices down due to lack of buyers and steadily falling prices of blue chip stocks pulling trading volumes down, brokers said.

The All Share Price Index dipped slightly by 0.65 percent (9.72 points) to close at 1,496.38 points while the more liquid Milanka Price Index was down 0.70 percent (11.16 points) to close at 1,636.54 points.

Turnover for the day was 36.4 million rupees.

“We expect the sluggish performance to continue into the next couple of days leading to 2009,” said Thakshila Hulangamuwa of Asha Phillip Securities.

John Keells Holdings (JKH) with 429,000 shares was the most actively traded and closed at 50 rupees, down two rupees.

Lanka Indian Oil Company (LICO) with 1.8 million rupees was the top contributor to the day’s turnover.

Ceylinco Insurance non-voting was down 20.25 rupees to close at 110, Commercial Bank was down 1.25 rupees to close at 67.25, Haycarb was down 1.25 to close at 39, Dialog Telekom was flat at six rupees and Sri Lanka Telecom (SLT) was also flat at 30 rupees.