Monday, May 21, 2012

Sri Lanka stocks dip on Monday

May 21, 2012 (LBO) – Sri Lanka’s stock market dipped Monday in the absence of buying support, though a crossing in conglomerate John Keells Holdings, brokers said.

 Colombo’s benchmark All Share Price index lost 0.27 percent or 14.37 points to close at 5,207.72, while the 25-stock liquid Milanka Price Index shed 0.49 percent or 23.09 points to close at4,670.50.

 Monday’s turnover was a modest 192.0 million rupees, according to Colombo Stock Exchange figures.

John Keells, the biggest stock in terms of market capitalisation, dominated turnover on trades of 235,051. The counter closed up 1.30 rupees to 202.20 rupees.

Commercial Bank PLC, one of the country’s most profitable stocks, closed flat at 105.00 rupees on trades of 140,437 shares.

Royal Ceramics PLC, fell 1.40 rupees to 103.10 rupees on trades of 120,000 shares.

 Shares of The Finance PLC fell 1.00 rupee to 25.00 rupees. The company is in the news after state-run National Savings Bank agreed to return over seven million shares it bought in April, to its original owners.

NSB, the country’s biggest savings bank, also dominated news on Monday, that its Chairman Pradeep Kariyawasam had resigned following the aborted The Finance share purchase.

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