Sri Lanka stocks close up 1.65-pct

Sept 03, 2010 (LBO) – Sri Lankan shares continued their bull run Friday with gains seen in several sectors on the back of the previous day’s sharp rise, brokers said. The All Share Price Index closed at 5,880.49, up 1.65 percent (95.32 points) while the more liquid Milanka index rose 1.77 percent (105.29 points) to cross the 6,000 points mark and close at 6,066.81, according to stock exchange provisional figures.

Turnover was 4.1 billion rupees.

“The market witnessed a bull run today with gains seen in several sectors such as plantations, manufacturing, banks and hotels,” said Sahani de Silva, research analyst at Bartleet Mallory Stockbrokers.

“Interests can be expected to continue next week too.”

Brokers said institutional buying was also seen Friday.

There were three crossings or off-the-floor negotiated deals in John Keells Holdings, one 100,000 share trade at 275 rupees a share, another of 367,000 shares at 275 rupees each and the third of 100,000 at 270 rupees.

A block of 648,000 shares of Hemas Holdings changed hands at 39.50 rupees each and 75,000 of Hayleys at 335 rupees a share,

Also, there were two crossings of Chevron Lubricants Lanka, one of 150,000 shares at 167 rupees each and the other of 200,000 at 167 rupees.