Sri Lanka stocks close up 0.3-pct

July 07, 2014 (LBO) – Sri Lanka’s stocks closed 0.33 percent higher starting the week with a positive note despite net foreign selling, brokers said. Ceylinco Insurance closed 74.70 rupees higher at 1,399.90 rupees and Commercial Leasing and Finance closed 10 cents lower at 4.00 rupees.

Oil palm firms Bukit Darah closed 19.70 rupees lower at 630.20 rupees and Selinsing closed 95.00 rupees lower at 1,700.00 rupees.

Distilleries closed 2.40 rupees lower at 205.10 rupees.

In a stock exchange filing, Adam Investments said the firm has received an interim order on July 04, 2014 from the commercial high court restraining PCH Holdings from selling any of its assets.

The Colombo benchmark All Share Price Index closed 21.49 points higher at 6,499.00, up 0.33 percent. The S&P SL20 closed 7.21 points higher at 3,617.89, up 0.20 percent.

Turnover was 1.35 billion rupees, down from 1.38 billion rupees last Friday with 121 stocks closed positive against 80 negative.

John Keells Holdings closed 2.10 rupees higher at 227.10 rupees with four off-market transactions of 200.99 million rupees changing hands at 227.00 rupees per share contributing 15 percent of the daily turnover.

JKH’s W0022 warrants closed 1.70 rupees higher at 63.00 rupees and its W0023 warrants closed 20 cents higher at 73.20 rupees.

The aggregate value of all off-the-floor deals represented 32 percent of the turnover.

PC Pharma closed 50 cents higher at 2.80 rupees and PCH Holdings closed 70 cents higher at 3.60 rupees, attracting most number of trades during the day.

Foreign investors bought 212.67 million rupees worth shares while selling 380.62 million rupees worth shares.

Lion Brewery Ceylon closed 36.40 rupees higher at 493.40 rupees and Nestle Lanka closed 20.40 rupees higher at 1,972.50 rupees.