Sri Lanka shares end up 0.5-pct

May 27, 2011 (LBO) – Sri Lankan shares closed firmer Friday with interest in financial stocks and two newly listed finance companies that soared on their debut making further gains, brokers said. The main All Share Price Index closed at 7,459.58, up 0.54 percent (40.14 points) while the more liquid Milanka index rose 0.15 percent (10.06 points) to close at 6,875.54, according to stock exchange provisional figures.

Turnover was 2.4 billion rupees.

Swarnamahal Financial Services, which was listed at 11.40 rupees and hit 100 rupees when it began trading Thursday but closed at 44 rupees, made more gains Friday, up by a rupee to close at 45.

Chilaw Finance, which also began trading Thursday, went up by 1.40 Friday to close at 32 rupees. The stock was listed at 11 rupees and hit a high of 60 rupees Thursday.

Nation Lanka Finance was the most actively traded stock, with some 14.7 million shares changing hands. The stock closed at 27.40 rupees, up 3.50.

Colombo Land & Development Company, which had topped the turnover list in recent days, was the second most actively traded stock, with 5.2 million shares done. It closed at 35.70 rupees, up 60 cents.