Sri Lanka stocks end up 0.6-pct

Aug 30, 2011 (LBO) – Sri Lanka’s stock market closed higher Tuesday with heavy trading in a hotel share and continued interest in a newly listed tea exporter boosting turnover, brokers said. The main All Share Price Index closed at 6,879.29, up 0.61 percent (41.94 points) while the more liquid Milanka index rose 0.17 percent (10.88 points) to close at 6,233.82, according to stock exchange figures.

Turnover was 4.9 billion rupees.

Trading in shares of Ceylon Hotels Corporation generated the day’s highest turnover of 1.1 billion rupees. It closed at 34.50 rupees, up 2.30, with over 31.8 million shares traded.

Brokers and analysts said 29.6 million shares of Ceylon Hotels Corp were traded in five crossings or off-market private deals, all at 35 rupees a share.

DFCC Bank was also heavily traded with over 7.9 million shares done and closing at 135.80 rupees, up 4.20, generating a turnover of just over a billion rupees. There was one crossing of 7,913,700 DFCC shares at 135 rupees each.

HVA Foods was the day’s higherst gainer and most actively traded stock, closing at 57.30 rupees, up 12.50, with over 13.78 million shares done.

A 10 percent price band was imposed on HVA Foods as well as on Singer Finance (Lanka).

Singer Finance (Lanka) was also actively traded with over 4.4 million shares done, closing at 41.30 rupees, up 2.90.