Sri Lanka shares end down 1.5-pct

The Hapag-Lloyd delegation including, Capt. Prateek Gandhi – Director Operations, Hapag-Lloyd, Regional Office, Dubai,Mr. Faheem Mir – Manager - Operations, Hapag-Lloyd, Regional Office, Dubai,Mr. Lalith Witanachchi – Vice President, Hapag-Lloyd Lanka (Pvt) Ltd, Mr. Mindaka Dassanayake – General Manager, Hapag-Lloyd Lanka (Pvt) Ltd.,Mr. Rohan Ranasinghe – Terminal Operations Manager, Hapag-Lloyd AG and Mr. Iqram Cuttilan – Managing Director, Aitken Spence Shipping Ltd poses for a pic with SLPA’s Chairman -Admiral Sirimewan Ranasinghe and the Managing Director - Eng. Ganaka Hemachandra. SLPA's Vice Chairman - Eng. Herath M.P. Jayawardhana, Director (Operations) - Mrs. G. Zavia Miskin and Director (Marketing and BD) - Mr. H J K U Kumara are also present.

Apr 25, 2011 (LBO) - Sri Lankan shares tumbled for the fifth straight day Monday with motor shares taking a hit and heavy trading continuing in Lankem Developments, brokers said. The All Share Price Index closed at 7,345.48, down 1.49 percent (111.34 points) while the more liquid Milanka index fell 1.32 percent (91.84 points) to close at 6,855.27, according to stock exchange provisional figures.

Turnover was 1.5 billion rupees.

Motor stocks suffered a steep fall after the government said it was raising effective import tax rates on certain types of cars.
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The motor sector index itself fell 4.14 percent while prices of most shares of companies dealing in motor vehicles fell sharply.

Lankem Developments, which is making a 15 for one rights issue at 25 rupees each to raise almost 2.6 billion rupees, continued to be actively traded.
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It closed at 32.40 rupees, up four, after hitting a day's high of 38 rupees, with over 1.87 million shares traded.

Central Finance, another stock which had drawn interest in recent days, was also actively traded, closing at 1,443.10 rupees, up 38.50. There were two crossings of 14,700 and 26,300 shares at 1,430 rupees a share.

Index heavy John Keells Holdings closed at 290.50, down 4.50, while National Development Bank also fell, closing at 168 rupees, down 4.20 with a private deal of 200,000 shares at 165 rupees each.

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