Colombo stocks open lower
Colombo stocks opened on Monday, stuttering and stumbling in line with the erratic movements in recent weeks which most brokers say are unconnected to the nervous overseas markets.
John Keells Holdings (JKH), under severe strain after the LMSL judgment, led the negative trends with 496,300 shares trading at Rs 70 per share, down Rs 2.50 from previous levels. Dialog saw a huge stock of 3.2 million shares in 18 parcels trading at an unchanged Rs 8 while in-the-news LIOC over fuel prices, traded lower by 50 cents to Rs 24.75 for a stock of 144,100 through many parcels.
Traders said there were 100 negative movements against only nine positive trades in three hours of trading. The All Share Index fell by 24.56 points to 1,974.28 while the Milanka eased by 21.30 points to 2,214.64. Turnover was Rs 100 million just after noon.