Stocks closed flat yesterday as investors took profits and reinvested in selected midcap and hotels stocks, while heavy interest in John Keells Holdings (JKH) and Hotel Services (Ceylon) boosted turnover past a billion rupees, brokers said.

The All Share Price Index closed at 3,843.55, down 0.03 percent (1.29 points), while the Milanka index of more liquid shares gained 0.15 percent (6.81 points) to close at 4,439.61.

Turnover was 1.24 billion rupees, according to stock exchange provisional figures.

Foreign investors bought 477.1 million rupees of shares, and sold 531.4 million, resulting in a net outflow of 54.3 million rupees, brokers said.

"Investors showed some interest on the hotels sector and selected midcap stocks," Rakshitha Perera, research manager at Bartleet Mallory Stockbrokers said.

"JKH was the main contributor to the day’s turnover."

Hotel Services closed at 25.50 rupees, up 2.50 with 5.38 million shares changing hands, brokers said.