May 11, Colombo: Sri Lanka stocks fell sharply today at the Colombo Bourse in heavy volume trading as investors feeling the impact of escalating violence continued to sell shares across the board.

Main Colombo All Share Price Index fell 24.85 points or 0.92% to close at 2,675.34 while the highly capitalized Milanka Price Index lost 12.79 points or 0.34% to close at 3,741.30. The turnover closed above average at 658.3 million rupees while the trading volume closed at 9 million shares.

Conglomerate John Keells Holdings dominating the turnover with 438 million rupees fell 0.17% to close at 147.50 rupees trading 2.97 million shares. Both telecom giants remained flat today, fixed-line operator Sri Lanka Telecom trading 277,700 shares at 37.75 rupees and the mobile operator Dialog Telekom trading 132,900 shares at 26.00 rupees.

Other major contributors to the turnover included ACL Cables (392,900), Tokyo Cement - Non Voting (2,185,100), Caltex (130,000), Chemical Industries (215,600), Distilleries (83,200), Merchant Bank (308,500) and Hatton National Bank -Non Voting (111,200).

All sectors posted losses today with Construction and Engineering sector topping with a loss of 4.57%. Investment Trusts index fell 4.05% while Information Technology and Motors sectors posted losses above 3%. Alliance Finance gained 20.00 rupees or 10.00% to top the gainer’s list. The other top gainers included Hay Carb (8.53%), Abans (5.14 %), Walker & Greig (4.17%) and Merchant Bank (10.00%).

Mahaweli Reach Hotel lost 3.00 rupees or 16.67% placing it at the top of the loser’s list. The other top losers included Carsons (-12.07%), Sathosa Motors (-10.54%), Reefcomber Hotel (-10.00%) and Equity Two (-8.89%).

Rupee remained unchanged against the dollar according to the Central Bank figures buying at 110.17 rupees and selling at 111.49 rupees.