Colombo indices slide on Dialog results shock
2008-11-14 16:46:37

Colombo indices hit the bottom at Friday’s stock market close due to Dialog's fourth quarter results which ‘stunned’ investors when the company reported a huge loss, analysts said.

“Bad results for Dialog was in the cards, but no one expected the company to make a loss of Rs 192 million compared to Rs 2.4 billion profit for the same quarter in 2007,” one analyst said. Dialog fell by 25 cents to Rs 6.75.

The All Share Index lost 28.14 points at the close to stand at 1,783.94 with Milanka at 1,989.19 easing 32.41 points. The turnover was at Rs 593 million boosted by trade of 4.39 million DFCC shares at Rs 82. DFCC stood at Rs 83..