Sri Lanka shares end higher on bank, ceramic interest

Feb 13, 2008 (LBO) – Sri Lankan shares ended higher Wednesday on the back of Tuesday’s gains with turnover boosted by large transactions in Lanka Walltile and National Development Bank, brokers said. The All Share Price Index closed at 2,507.42, up 12.58 points or half a percentage point while the more liquid Milanka index rose 26.19 points or 0.84 percent to end at 3,149.50 with turnover climbing to 503 million rupees.

Bartleet Mallory Stockbrokers said Lanka Walltile dominated the day’s trading with two crossings in which a total of 2.54 million shares changed hands in two parcels of 2.20 million and 340,000 shares, both at 65 rupees.

The transactions generated a turnover of 165.6 million rupees. Lanka Walltile traded between 64 – 65.75, before closing down one rupee at 64 rupees.

NDB was the second highest contributor to the day’s turnover with a crossing of609,000 shares at a flat price of 165 rupees. The trade added just over a 100 million rupees to the day’s turnover.

Price gainers outnumbered losers with 98 stocks gaining value while 45 fell.

Foreigners were heavier on the buying side bringing the net inflow for the day to 257.1 million rupees, the brokers said.

Sri Lanka Telecom closed up 1.50 at 34.50 with 815,000 shares changing hands while 116,300 shares of Dialog Telekom were traded with the stock ending flat at 18 rupees. .