Sri Lanka stocks close up 0.3-pct

Sept 06, 2012 (LBO) – Sri Lanka stocks closed up for the eighth straight trading session gaining 0.3 percent helped a steep rise in Commercial Leasing and Finance Company boosting the index, brokers said. Asiri Surgical rose 20 cents to close at 8.30 rupees, Bogowantalawa Tea Estates closed up 80 cents at 16.70 rupees.

John Keells Holdings closed up 1.70 at 198.80 rupees, Dialog Axiata closed up 10 cents at 6.20, Sri Lanka Telecom closed up 40 cents at 44.00 rupees and Commercial Bank was flat at 106.00 rupees.

Colombo’s benchmark All Share Price Index ended the day at 5,388.9, up 16.7 points and the S&P SL20 index fell 0.25 percent to close at 2,936.01 points down 7.30 points.

Turnover was 1,087 million rupees.

Activity on small caps and penny stocks increased after a regulator who was tough on securities fraud was replaced and Colombo stocks have gained 6.9 percent since August 23.

After opening lower, stocks rallied Thursday with Commercial Leasing Finance which rose 29.7 percent or 1.10 rupees to 4.80, supporting the index.

Abans Finance rose 2.60 to close at 38.70 rupees, Central Investments and Finance closed up 50 cents at 5.20 rupees, Kalamazoo Systems, an illiquid small cap closed up 410 rupees at 3,400 rupees.