Mar 05 Colombo: Sri Lanka stocks declined today at the Colombo Bourse in dull trading as investors skimmed profits from recently gained stocks especially in telecom sector.

The main Colombo All Share Price Index fell 15.32 points or 0.51% to close at 2,965.88 while the more volatile and highly capitalized Milanka Price Index lost 33.73 points or 0.81% to close at 4,150.50. The turnover was below average at 243.8 million rupees while the trading volume was ended at 8.3 million shares.

Nations Trust bank led the turnover with 56.6 million rupees trading 1.67 million shares at 34.00 rupees losing 0.73%. Fixed-line operator Sri Lanka Telecom lost 2.41% to close at 40.50 rupees trading 927,700 shares while market heavyweight Dialog Telekom remained flat at 27.50 rupees trading 1.59 million shares. Conglomerate John Keells Holdings rose 0.40% to 188.75 rupees. Indian fuel giant Lanka IOC fell 1.50% to 32.75 rupees trading 282,500 shares.

Other major contributors to the turnover included Ceylon Leather (208,600), Nawaloka Hospitals (667,800), Colombo Land (249,500), Tess Agro (457,900) and Reefcomber Hotel (429,300).

Only Oil Palms sector posted a healthy gain of 5.25%. Investment Trusts index fell 3% while Power and Energy and Telecommunication sectors posted losses over a percent.

Bukit Darah gained 107.50 rupees or 9.93% to top the gainer’s list. The other top gainers included Kshatriya Holdings - rights (8.82%), Haycarb (6.00%), Commercial Development (5.00%) and Carsons (4.97%).

Kelsey Developments - rights lost 69.75 rupees or 9.30% placing it at the top of the loser’s list. The other top losers included Kshatriya Holdings (-20.62%), Hunas Falls Hotel (-18.55%), Serendib Hotel (-15.79%) and ACL Cables - bonus (-6.67%).

Rupee ended flat against the dollar today according to the Central Bank figures buying at 108.32 rupees and selling at 109.38.