Sri Lanka shares close up 1.2-pct

Feb 11, 2011(LBO) – Sri Lankan stocks closed 1.2 percent higher Friday with index heavy Dialog Axiata and Carson Cumberbatch stocks pushing the market up, brokers said.

The All Share Price Index closed at 7,586.63, up 1.24 percent (93.01 points) while the Milanka Price Index of more liquid stocks closed at 7,259.81, up 0.41 percent (29.46 points) according to stock exchange provisional figures.

Turnover was 3.8 billion rupees.

“Active retail investor interest was seen during market trading,” a broker said.

Dialog Axiata closed at 11.90, up 0.50 cents with over 10 million shares traded. The company announced a 0.20 cents first and final dividend.

The Dialog group made a net profit of 1.3 billion rupees in the December 2010 quarter compared with a loss of 2.2 billion the year before, a stock exchange filing said.

Carson Cumberbatch closed at 601.80, up 17.10 cents. The Bukit Darah Company, part of the Carson group, closed at 1,195.70, up 254.50 rupees.

Both companies which have interests in palm oil will have good earnings because of all time high palm oil prices recorded in the past three years, analysts say.