Sri Lanka stocks close 0.20-pct up

Aug 26, 2010 (LBO) – Sri Lankan stocks closed slightly higher Thursday in somewhat choppy trading with some interest seen in financial sector shares and poultry firms, brokers said. Company earnings have improved in post-war Sri Lanka and leasing and motor firms are seen doing better as demand for vehicles increase while poultry firms are expected to benefit from a revival in tourism. The All Share Price Index closed at 5,594.30, up 0.20 percent (11.43 points) while the more liquid Milanka index rose 0.10 percent (5.84 points) to close at 5,882.22, according to stock exchange provisional figures.

Turnover was three billion rupees.

PC House, a computer vendor which debuted Thursday, was the most actively traded stock and closed flat at 11 rupees, its issue price.

The stock hit a high of 14.70 rupees and a low of 10.90 rupees with about 12.2 million shares traded.

PCH had an initial public offer on August 5 to raise 630 million rupees by offering 57.2 million shares at 11 rupees each.

There was a privately negotiated off-the-floor deal of 1.5 million shares of United Motors Lanka at 200 rupees each. The share closed at 196 rupees, up 1.60 rupees.

SMB Leasing non-voting shares were the highest gainer, closing at 2.20 rupees, up 20 cents or 10 percent, with just over a million shares traded.

Poultry firms Ceylon Grain Elevators and Three Acres Farms were among the most actively traded stocks.

Ceylon Grain Elevators closed at 42.10 rupees, up 10 cents while Three Acres Farms ended at 33.30, up three or 9.90 percent.