Sri Lanka shares end up 0.8-pct

Chief Regulatory Officer at CSE Renuke Wijayawardhane presenting the listing certificate to Executive Chairperson at Renuka Hotels Shibani Thambiayah

Feb 18, 2011(LBO) – Sri Lankan stocks closed 0.85 percent higher Friday helped by gains in Ceylon Tea Services and Bukit Darah stocks, brokers said.

The All Share Price Index closed at 7,672.49, up 0.85 percent (64.70 points) while the Milanka Price Index of more liquid stocks closed at 7,242.15, up 0.24 percent (17.48 points) according to stock exchange provisional figures.

Turnover was 1.9 billion rupees.

“There was relatively low market activity with most investors taking the long week-end off,” an analyst said.

There were big gains seen in Ceylon Tea Services, part of the Dilmah tea export group, with the stock closing at 968.30, up 318.30 rupees.

A ten percent price band has been imposed on the company with effect from 21st February 2011 to 14th March 2011 in accordance with a SEC directive issued in September 2010, a stock exchange filling said.

The Bukit Darah, part of the Carson Cumberbatch group, closed at 1,368.00, up 34.20 rupees.

Confifi Hotel Holdings closed at 265.00, up 34.90 rupees.

The company now controlled by Lanka Orix Leasing Company said net loss fell 39 percent to 4.5 million rupees in the December 2010 quarter from a year ago with sales up 28 percent to 54 million rupees.

Distilleries Company closed 174.00, down 0.90 cents.

Distilleries group’s December 2010 quarter net profits rose 45 percent to 1.2 billion rupees from a year ago, according to the results filed with the stock exchange.