Sri Lanka shares end up 2.4-pct

Jan 27, 2012 (LBO) – Sri Lankan closed sharply higher Friday recovering more ground after recent heavy losses with turnover also high and investors buying into fundamentally strong companies, brokers said. Capital Alliance Finance was also among the top gainers, closing at 36.30 rupees, up seven.

Newly listed Asia Asset Finance was the most actively traded stock, closing flat at 7.10 rupees followed by Environmental Resources Investments which ended at 29.20, up 1.80 rupees.

Nations Trust Bank was also heavily traded, closing at 61.20 rupees, up five, with 2.2 million shares done. The main All Share Price Index closed up 2.38 percent (133.04 points) at 5,725.44, while the more liquid Milanka index rose 3.43 percent (163.35 points) to close at 4,921.81.

Turnover was 1.7 billion rupees, according to stock exchange provisional figures.

Commercial Bank accounted for the biggest turnover, closing at 104 rupees, up four with 3.48 million shares done.

Index heavyweight John Keells Holdings was heavily traded, closing at 167.90 rupees, up 4.50, wih 709,700 shares changing hands.

Elpitiya Plantations, which has palm oil plantations and a stake in a refining venture, closed at 22.60, up 3.30.

Madulsima Plantations closed at 16.70 rupees, up 3.70 while