Sri Lanka shares close up 1.04-pct, property sector gains

Jan 08, 2010 (LBO) – Sri Lankan stocks edged up Friday as retailers chased mid-cap counters, while selected property development companies were heavily traded, brokers said. The All Share Price Index closed at 3,514.63, up 36.07 points while the more liquid Milanka index gained 0.95 percent (38.12 points) to close at 4,039.36.

Turnover was 929.6 million rupees, according to stock exchange provisional figures.

“Selected mid-cap stocks led today’s gains,” Waruna Singappuli, research manager at NDB Stockbrokers said.

Conglomerate John Keells Holdings closed at 180.00 rupees, up 50 cents, and index heavy Distilleries Company closed at 117.00 rupees, up 1.00.

Brokers said selected property development companies were heavily traded.

Environmental Resources warrants 01 closed at 49.00 rupees, up 10.50 with 1.15 million shares changing hands, while warrants 02 closed at 48.50 rupees, up 11.00 rupees, with 1.22 million shares traded.

Environmental Resources ordinary shares closed at 68.75 rupees, up 9.25.

Colombo Land & Development Company closed at 7.00 rupees, up 50 cents with almost 2.7 million shares traded, Kelsey Developments closed at 17.75 rupees, up 2.00 rupees, and Kshatriya Holdings closed at 7.00 rupees, up 50 cents.

Overseas Reality, owners of the World Trade Centre twin towers in Colombo’s financial district and developers of Havelock City, a high-end apartment complex, closed flat at 16.25 rupees, with almost 3.0 million shares traded.

On’ally Holdings, another property firm, closed at 40.25 rupees, up 5.25.

Seylan Bank closed at 40.75 rupees, up 1.25 with 1.0 million shares changing hands, Commercial Bank closed at 197.25 rupees, up 50 cents, Hatton National Bank closed flat at 176.00 rupees, and Sampath Bank closed at 222.00 rupees, up 2.00.

National Development Bank closed at 209.75 rupees, down 25 cents, Housing Development Finance Corporation Bank closed at 149.00 rupees, up 1.50 and DFCC Bank closed at 171.00 rupees, up 1.75.

Sri Lanka’s largest celco Dialog closed at 7.00 rupees, up 25 cents, and fixed line operator Sri Lanka Telecom closed flat at 43.00 rupees.