Sri Lankan stocks ended lower on Thursday in low volume trade as investors kept away from trade after this week's biggest IPO since 2002, brokers said. The key Colombo all-share index fell a provisional 0.62 percent, or 9.17 points, to 1,480.31 points. The bourse has gained more than 40 percent so far this year on upbeat corporate earnings and a strong leisure sector. The Milanka index which tracks the most liquid and highly capitalised stocks - fell 0.58 percent, or 12.17 points, at 2,102.84 points.
"Trading was lacklustre and sluggish, people have invested fully in IOC," said Rohan Fernando of C. T. Smith Stock Brokers Ltd.
The Sri Lankan unit of Indian Oil Corp raised 3.6 billion rupees ($34 million) on Monday in the island's biggest IPO in two years. Lanka IOC issued 133.33 million shares at 27 rupees a share.
The sale of a 25 percent stake will make Lanka IOC the fourth-biggest stock on the Colombo bourse when it starts trading in December.
Nawaloka Hospitals Ltd fell 7.14 percent to 3.25 rupees a share, while shares in real-estate company Lankem Development fell 9.8 percent to 11.50 rupees a share.
Market turnover was light at 55.0 million rupees.
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