Friday, April 27, 2012

Sri Lanka's The Finance Company dominates a dull bourse

April 27, 2012 (LBO) – Sri Lankan stocks closed the week on a negative note on Friday, as investors remained on the sidelines watching for some stability in the foreign exchange markets, brokers and dealers said.

 Colombo's broader All Share Price Index shed 15.42 point or 0.28 percent to 5,429.59, while the more liquid Milanka Price Index fell 7.09 points or 0.14 percent to close at 4,853.53.

 Friday’s turnover closed at 778.9 million rupees, according to Colombo Stock Exchange figures.

The day's trading activities was dominated by The Finance Company, which saw four lots totaling 7.1 million shares crossing at 50.00 rupees. The deal helped, The Finance shares close up 14.00 rupees to 39.00 rupees on volumes of 7.98 million.

Conglomerate John Keells Holdings, which has business interests in leisure, finance and transport, was the next pick of the investors closing flat at 203.00 rupees on volumes of 345,487.

Regnis PLC followed a distant third, with its share price gaining 11.60 rupees to close at 117.00 rupees on volumes of 313,718 shares.

In the foreign exchange markets, the Sri Lanka's rupee was tentatively quoted around 130.80/131.50 against the greenback, but with little firm quotes as monetary authorities used moralsuation to deter speculation, dealers said.

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