Sri Lanka stocks end down 0.4-pct

L to R: Samantha Ranatunga, Chairman, HVA Foods PLC; Jan Müggenburg, Chief Executive Officer, Müggenburg Group; Graham Stork, Chief Executive Officer, HVA Foods PLC; Sarva Ameresekere, Group Chairman, George Steuart & Co. Ltd.

Oct 10, 2011 (LBO) - Sri Lankan stocks resumed their slide Monday, after a slight rally Friday broke a thee-day fall, with a large deal in Laugfs Gas accounting for the bulk of turnover, brokers said. Renuka Agri Foods was the fourth most actively traded stock, closing at 7.
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60 rupees, up 20 cents, with 6.5 million shares done. The main All Share Price Index fell 0.
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44 percent (29.79 points) to 6,669.04, while the more liquid Milanka index fell 0.
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71 percent (42.24 points) to close at 5,935.90, according to stock exchange figures.
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Turnover was 3.0 billion rupees.

A crossing or private off-market deal of 33 million Laugfs Gas shares at 48 rupees each, or about 10 percent of the firm, generated 1.

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77 billion rupees in turnover.

Laugfs Holdings said in a stock exchange filing it sold the stake in its subsidiary to the Employees' Provident Fund, a state-run pension fund.

The stock was the most actively traded share, closing at 44.90 rupees, down 3.40, after hitting a day's high of 50.50 rupees.

Laugfs Gas non-voting shares were the second most actively traded stock, closing at 27 rupees, down 2.50.

Last Friday, Laugfs Gas voting and non-voting shares were the top gainers and most actively traded stocks, accounting for the highest turnover.
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Voting shares had ended up 7.30 rupees at 48.30 with 20.7 million shares traded and Laugfs Gas non-voting shares gained 3.

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50 rupees to end at 29.50 on Friday.

In Monday's trade, John Keells Holdings accounted for the second highest turnover of the day with 1.

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6 million shares done, including three crossings at 200 rupees a share. It closed flat at 200.

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