Sri Lanka stocks end up 0.3-pct

July 06, 2011 (LBO) – Sri Lankan stocks closed higher for the second day running although turnover remained lower than usual with no big deals done, brokers said. The main All Share Price Index closed at 6,884.06, up 0.31 percent (21.27 points) while the more liquid Milanka index rose 0.28 percent (18.23 points) to close at 6,467.81, according to stock exchange figures.

Turnover was 1.0 billion rupees.

“The market upside continued for the second day running as the positive sentiment that was witnessed yesterday was sustained amid lower turnover levels,” SC Securities said in a report.

“Market turnover levels narrowed notably with the absence of high value deals that were a constant sight yesterday.”

Foreigners were net buyers with purchases worth of 196.7 million rupees and sales of 121.1 million, with a net foreign inflow of 75.6 million.

Lanka Securities said recently listed Expolanka Holdings made the highest contribution to daily turnover with five million shares changing hands in a private, off-market deal at 13.80 rupees each.
A total of 7.89 million Expolanka shares were traded, generating 108.8 million rupees. It closed at 13.60 rupees, up 10 cents.

There was heavy trading in Touchwood Investments, Richard Pieris & Company and Richard Pieris Exports.

Brokers said 1.9 million shares of Touchwood changed hands with the share closing at 28 rupees, up 80 cents, generating a turnover of 53.33 million rupees.

Richard Pieris & Co closed at 11.80 rupees, down 10 cents with 3.9 million shares done while Richard Pieris Exports closed at 48.30 rupees, up 3.40 with 730,600 shares traded.