Mar 14, Colombo: Sri Lanka stocks fell today following the world markets shaken by the slide in US markets as Wall Street recorded its second-largest drop in four years.

The main Colombo All Share Price Index fell 64.19 points or 2.29% at 2,738.85 while the more liquid Milanka Price Index lost 89.19 points or 2.28% to close at 3,820.41. The turnover was below average at 338 million rupees with the trading volume closing at 15 million shares.

Fixed-line operator Sri Lanka Telecom dominated the turnover with nearly 56 million rupees trading 1.52 million shares at 36.75 rupees, down by 2.00%. Distilleries fell 8.76% to 99.00 rupees trading 458,600 shares while market heavyweight Dialog Telekom fell 0.96% to 25.75 rupees trading 948,000 shares. Conglomerate John Keells Holdings was down by 4.05% to close at 148.00 rupees.

Other major contributors to the turnover included Tokyo Cement -Non Voting (1,458,600), Fortress Resorts (2,230,000), CIC -Non Voting (294,100) Ceylinco Seylan (1,433,000), Lanka IOC (173,700), Ceylon Leather (176,100), Ceylon Glass (812,000), Reefcomber Hotel (1,784,600) and Nawaloka Hospitals (291,700).

All sectors posted losses today except for Stores and Supplies sector which remained flat. Oil Palms and Investment Trusts sectors posted losses above 5% while Construction and Engineering, Healthcare, Footwear and Textiles, Power and Energy and Chemicals and Pharmaceuticals sectors lost over 4%.

Colombo Land -warrants gained 11.76% to top the gainer’s list. The other top gainers included Connaissance Holding (11.67%), Reefcomber Hotel (10.00%), Property Development (9.57%) and Sathosa Motors (8.54%).

Kelsey Developments lost 4.00 rupees or 16.67% placing it at the top of the loser’s list. The other top losers included Vanik – non voting (-13.33%), Singalanka Standard Chemicals (-13.04%), Equity One (-12.09%) and Serendib Hotel (-10.81%).

Rupee ended slightly weaker against the dollar today according to the Central Bank figures buying at 108.87 rupees and selling at 110.01.