Wednesday, August 10, 2011

Sri Lanka stocks close down 0.8-pct

Aug 09, 2011 (LBO) - Sri Lankan stocks closed down 0.8 percent Tuesday as global markets took a battering and Textured Jersey Lanka, a knitwear exporter fell below its initial offer price of 15.00 rupees.

Most Asian markets plunged Tuesday following a downgrade of US debt, and US and Europe tried to restore calm to markets.

The stock fell as low as 13.50 rupees before closing at 14.00 rupees with 11.7 million shares worth 165.6 million shares traded.

Colombo's benchmark All Share Price Index ended up 0.83 percent or 56.78 points at 6,750.19, while the Milanka Index of liquid stocks closed up 1.46 percent (90.19 points) at 6,107.82, according to stock exchange provisional figures.

Turnover was 2.4 billion rupees.

There was speculative trading is property stocks.

Seylan Developments (CSD) shares were the main contributor to the day’s turnover, closing at 17.2 rupees, up 3.3 rupees or 23.74 percent, with 46.7 million shares worth 754 million rupees changing hands.

The day's top gainer was East-West Properties closed at 34.90 rupees up 8.80 rupees or 33.98 percent.
John Keells Holdings closed at 194.10 rupees, down 40 cents or 0.21 percent.

Off market negotiated deals included Bairaha Farms at 100,000 shares at 300 rupees and Asian Hotels 322,000 shares at 91 rupees.
source - www.lbo.lk

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