Mar 15, Colombo: Sri Lanka stocks closed slightly lower today at the Colombo Bourse as selling of second tier stocks offset the gains from blue chip purchases while elsewhere in Asia the markets rebounded from the biggest drop in a week.

The main Colombo All Share Price Index fell 7.00 points or 0.26% to close at 2,731.85 while the more liquid Milanka Price Index closed down by 17.39 points or 0.46% at 3,803.02. The turnover was average at 357.8 million rupees with foreign purchases of 86.9 million rupees and foreign sales of 120.6 million rupees. The trading volume ended at 14 million shares.

Dominating the turnover with 84.4 million rupees, market heavyweight Dialog Telekom gained 0.97% to close at 26.00 rupees in a trade of 3.25 million shares. The land line operator Sri Lanka Telecom rose 2.72% to 37.75 rupees trading 604,100 shares. Distilleries closed up by 5.00% at 105.00 rupees trading 527,400 shares while conglomerate John Keells Holdings traded 249,600 shares down by 3.73% at 142.00 rupees.

Other major contributors to the turnover included Tokyo Cement - Non Voting (645,100), Ceylon Tobacco (206,400), Chemical Industries (104,800) Lanka IOC (302,800), Sierra Cables (1,823,600), Ceylon Glass (796,900), Vallible Power (976,300), Nawaloka Hospitals (531,100), Lanka Cement (116,800) and Colombo Land (180,200).

Construction and Engineering sector posted a healthy gain of 4.57% while Power and Energy index was boosted 2.31% by gains in Lanka IOC. Beverage, Food and Tobacco and Trading sectors posted gains over a percent. Diversified Holdings index fell 2.06% while Stores and Supplies, Information Technology, Banks, Finance and Insurance, Investment Trusts and Plantations sectors posted losses over a percent.

Richard Pieris Exports gained 2.25 rupees or 13.24% to top the gainer’s list. The other top gainers included CF Venture Fund (9.09%), Lanka Milk Foods (8.86%), Lanka Aluminium (7.69%) and Vanik – non voting (7.69%).

Hotel Sigiriya lost 11.25 rupees or 30.61% placing it at the top of the loser’s list. The other top losers included Serendib Land (-20.00%), Seylan Merchant Bank – non voting (-14.29%), Colombo Investment Trust (-14.08%) and Commercial Leasing (-10.38%).

Rupee ended slightly firmer against the dollar today according to the Central Bank figures buying at 108.72 rupees and selling at 110.06.