Sri Lanka stocks close 0.22-pct up

June 29, 2011 (LBO) – Sri Lanka stocks ended higher Wednesday with Orient Garments, the first apparel exporter to list, which opened trading, the most actively traded share and the day’s fourth highest gainer, brokers said. The main All Share Price Index closed at 6,878.15, up 0.22 percent (15.32 points) while the more liquid Milanka index fell 0.16 percent (10.47 points) to close at 6,385.31, according to stock exchange figures.

Turnover was 2.9 billion rupees.

Orient Garments, part of the Finco group, opened at 35 rupees, above its refence price of 23 at which a stake had been sold in a private placement earlier.

It closed at 27.90 rupees, up 4.90 rupees or 21.30 percent with 15 million shares changing hands, having hit a high of 40 rupees and a low of 26.50 during the day.

Stock market analysts said 10.9 million shares were sold by a single seller, believed to be one of the promoters in early trade with a 5.5 million block in one transaction at 28 rupees a share.

There were 20 crossings or privately negotiated off-market deals.

Brokers said 3,158,5000 shares of Aitken Spence changed hands in eight crossings at 133 rupees a share. The stock closed at 136.50 rupees, up 1.90.

Brokers said 2,575,337 shares of Aitken Spence Hotel Holdings changed hands at 75 rupees each in three crossings. The stock closed unchanged at 75 rupees after rising to 76.50 during the day.