Sri Lanka shares close up 1.16-pct

Oct 15, 2014 (LBO) – Sri Lanka’s shares gained on Wednesday with the positive price movements in banking and diversified stocks amid net foreign buying, brokers said.

The Colombo benchmark All Share Price Index closed 83.36 points higher at 7,288.83, up 1.16 percent. The S&P SL20 closed 53.09 points higher at 4,064.84, up 1.32 percent.

Turnover was 1.59 billion rupees, down from 1.60 billion rupees a day earlier with 167 stocks closed positive against 33 negative.

Alufab Plc, an aluminum manufacturer who sold its 60.69 percent stake to Hayleys Plc to become a subsidiary of Hayleys had four off-market transactions of 168.32 million rupees changing hands at 23.00 rupees per share contributing 11 percent of the turnover.

A mandatory offer will be made to the remaining shareholders of Alufab, Hayleys Plc said in a stock exchange filing.

The aggregate value of all off-the-floor deals represented 34 percent of the daily turnover.

Alufab closed 4.70 rupees higher at 23.70 rupees and First Capital Holdings closed 4.70 rupees higher at 56.80 rupees, attracting most number of trades during the day.

Foreign investors bought 468.13 million rupees worth shares while selling 266.82 million rupees worth shares.

Commercial Bank of Ceylon closed 6.10 rupees higher at 163.20 rupees and John Keells Holdings closed 2.80 rupees higher at 249.90 rupees, contributing most to the index gain.

JKH’s W0022 warrants closed 10 cents higher at 73.70 rupees and its W0023 warrants closed 2.90 rupees higher at 79.00 rupees.

Hemas Holdings closed 3.60 rupees higher at 63.90 rupees and Hatton National Bank closed 5.40 rupees higher at 192.00 rupees.

Ceylon Tobacco Company closed 8.80 rupees higher at 1,145.10 rupees.