Colombo stocks close easier
2008-11-06 17:26:27

Colombo stocks closed easier on Thursday – just as the budget was being presented in parliament by President Mahinda Rajapaksa – with falls in blue chips leading the negative sentiment, brokers said.

There was nothing much to cheer about in the budget as far as the stockmarket was concerned although it provided relief to middle and low income groups in the form on a reduction in fuel prices across the board and decreases in water and power bills.

The All Share Index fell by 41.56 points to 1,920.64 while the Milanka fell by 53.84 points to 2,170.91. Turnover was a paltry Rs 85 million. Among key falls were John Keells Holdings of Rs 2 to Rs 70 per share for a total of 308,000 shares at a time when the re-purchase offer at Rs 90 is on. CIC fell a rupee to Rs 37 for 55,100 shares while Carsons eased by Rs 6.25 at Rs 174 for 24,600 shares.
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