Sri Lanka shares end up 1.16-pct

Feb 03, 2011 (LBO) – Sri Lankan stocks closed higher Thursday with heavy trading seen in Richard Pieris & Company and interest in plantations and poultry shares, brokers said. The All Share Price Index closed at 7,346.81, up 1.16 percent (84.55 points) while the more liquid Milanka index rose 0.41 percent (29.55 points) to close at 7,180.49, according to stock exchange provisional figures.

Turnover was 4.7 billion rupees.

Richard Pieris & Company, a group which has plantations firms, apart from retail and rubber manufacturing, was the most actively traded stock, with over 21 million shares done, and the share closing at 13.90 rupees, up 90 cents.

Madulsima Plantations, a tea growing firm that is part of the Stassen group, was the highest gainer, closing at 28.50, up 8.10 rupees, while Agalawatte Plantations, which grows rubber and palm oil, closed at 110.90, up 21.40.

Kotagala Plantations, which grows rubber and tea, closed at 209.50, up 31.20

High prices for tea, rubber and palm oil have drawn investors to plantations firms, brokers said.

Investors have also been buying into poultry firms after a shortage drove prices higher.

Three Acre Farms closed at 233.40 rupees, up 15.20 while Ceylon Grain Elevators closed at 250 rupees, up 9.20.