Sri Lanka stocks end up 0.5-pct

Sri Lankan Police forming a human chain in parliament to protect the Speaker and enable a vote.

Sept 30, 2011 (LBO) – Sri Lankan stocks closed firmer Friday for the second day running in speculative trade and price curbs being imposed on Singer Industries (Ceylon) after it rose sharply, brokers said. There was a sole crossing or off-market private deal of 800,000 shares of Lanka Orix Leasing Company at 99 rupees each. It closed at 98.80 rupees, up 1.10. The main All Share Price Index rose 0.53 percent (35.64 points) to 6,783.55, while the more liquid Milanka index climbed back over the 6,000 mark, rising 0.78 percent (46.96 points) to close at 6,045.11, according to stock exchange figures.

Turnover was 2.36 billion rupees.

Asian Alliance Insurance, which was brought under the 10 percent price band Thursday, after rising almost 50 percent, closed at 358.50 rupees, up 7.90, after hitting a high of 384.70.

Singer Industries (Ceylon) was the day’s highest gainer, closing at 384.10 rupees, up 66.90 or 21 percent prompting the regulator to bring it under the 10 percent price band restricting daily price movements. It hit a high of 439 rupees during the day.

Blue Diamonds Jewellery Worldwide non-voting shares were the most actively traded stock, closing at 4.90 rupees, up 10 cents, with over 28.2 million shares done.

The Lanka Hospital Corporation was also actively traded, closing at 63 rupees, up 3.60 with two million shares changing hands.

Ascot Holdings, which was also brought unde the 10 percent price band Thursday, was also heavily traded, accounting for the day’s biggest turnover. It closed at 186 rupees, down 2.90.

Regnis (Lanka), which accounted for the second highest turnover, closed at 440.20 rupees, up 19.90.