Sri Lankan stocks end barely changed

EconomyNext – Sri Lankan stock prices failed to hold early gains Tuesday with the benchmark index ending only marginally higher in subdued trading that saw turnover sink to the lowest so far this year.

The All Share Price Index closed at 7,368.50, up 1.82 points, while the S&P SL20 index, which tracks the top 20 largest and most liquid stocks, fell 6.59 points (0.2 percent) to 4,133.52.

Turnover was 626 million rupees with only one crossing or negotiated off-market deal of 498,000 Commercial bank shares at 180.00 which added 98.48 million rupees (14 percent) to the total turnover.

Brokers SC Securities said foreign investors remained net sellers with a net foreign outflow of 21 million rupees.

Lanka Securities said the price of Ceylinco Insurance, the island’s biggest insurer, closed at a 52-week high of 1,500.00.

A shareholder meeting of the insurer, called to discuss its proposed segregation of life and general business, was disrupted Tuesday with minority shareholders accusing the management of assault.