Sri Lanka shares end up 0.05-pct

Feb 08, 2011(LBO) – Sri Lankan stocks closed up Tuesday with some profit taking seen in the morning trades and retail investors pushing the market up by investing in small cap stocks, brokers said.

The All Share Price Index closed at 7,385.04, up 0.05 percent (3.94 points) while the Milanka Price Index of more liquid stocks closed at 7,199.09, down 0.18 percent (12.76 points) according to stock exchange provisional figures.

Turnover was 4.3 billion rupees.

“Active trading was seen both in the hotels and travel sectors as well as in the banking and finance sector stocks,” a broker said.

Richard Pieris closed at 15. 50, up 0.30 cents with over 26 million shares done.

Among banks Sampath Bank closed at 296.30, up 0.80 cents and Commercial Bank closed flat at 278.90. Hatton National Bank closed at 390.70, up 1.50 rupees.

The Lighthouse hotel closed at 66.40, up 2.40 rupees.

The company has seen December 2010 quarter profit rise sharply from a year ago amid a tourism boom and has struck a deal with a small boutique hotel on the south coast, its accounts showed.

Taj Lanka Hotels closed at 74.70, up 4.70 rupees and The Fortress Resorts closed at 30.20, up 4.40 rupees with over 2.7 million shares traded.

Hotels and travel sector stocks prices were up two percent, brokers said.

There were five crossings in Ceylinco Insurance, four were at 500.00 and one at 460.00 rupees. The stock closed at 499.30, up 74.30 rupees.