Dec 21, 2010 (LBO) – Sri Lankan stocks ended slightly higher Tuesday with heavy trading and gains in poultry firms amind rising demand and prices for chicken following an influx of tourists, brokers said. The All Share Price Index closed at 6,378.91, up 0.28 percent (18.07 points) while the more liquid Milanka index fell 0.08 percent (5.20 points) to close at 6,828.87, according to stock exchange provisional figures.
Turnover was 1.3 billion rupees.
Poultry firm Bairaha Farms was the day’s third highest gainer, closing at 247.60 rupees, up 24.30 or almost 11 percent, with 334,800 shares changing hands.
Three Acre Farms closed at 75.50 rupees, up 5.60 with 813,900 shares traded. Ceylon Grain Elevators was also actively traded, closing at 68.60 rupees, up 2.70 with 956,700 shares done.
Demand for chicken goes up by 40-60 percent during the Christmas and new year festive season, according to the government.
This year, Sri Lanka is also seeing record numbers of foreign tourists after the end of its ethnic war.
More than 600,000 visitors have arrived this year, up 46 percent compared with last year.
In November alone, Sri Lanka’s tourism arrivals rose 63.1 percent to 72,251 from a year earlier.
Brokers said non-voting shares of Laugfs Gas were the most actively traded for the day, closing at 17 rupees, up 90 cents with almost 3.8 million shares done. Its voting shares closed at 25 rupees, up 70 cents with 1.7 million shares traded