Stocks dip on news of second attack on military

Update

Colombo stocks dipped sharply as suspected Tamil Tigers carried out a second land mine attack on a Sri Lankan Army tractor killing six soldiers. Update

Colombo stocks dipped sharply as suspected Tamil Tigers carried out a second land mine attack on a Sri Lankan Army tractor killing six soldiers. The attack is believed to have occurred around 10 am on the Jaffna-Point Pedro road. Gunfire has also been reported in the area.

By 11.30 am, the Colombo All Share Index had fallen more than 3.5 percent or eighty points while the Milanka index of the more liquid stocks lost more than 100 points.

Property stocks took a heavy beating, with Browns falling Rs 60 rupees to Rs 490 mn, AEC 44.75 to 275 and Carsons fell Rs 480 to 2500.

Six soldiers were killed in the first land mine attack on Sunday.

Security Fears

Colombo stocks took a sharp dip on the news that a second attack on the Sri Lanka Army in Jaffna.

The all share which was moving down slowly after trading started dipped over 1 percent after 11 am when news of the latest attack started filtering to the market that six soldiers had died in the latest