Sri Lanka stocks end up 0.8-pct

July 13, 2011 (LBO) – Sri Lankan stock recovered after two days of sharp falls with buying by retail investors and also foreigners, brokers said. The main All Share Price Index closed at 6,715.67, up 0.78 percent (52.03 points) while the more liquid Milanka Price Index closed at 6,190.28, up 0.42 percent (25.72 points).

Turnover was 2.4 billion rupees.

“The market was mainly retail driven during today’s trading session,” said Bartleet Mallory Stockbrokers.

“Foreign investor participation was on to the buying side, recording a net foreign inflow. Buying interest was evident on diversified and food and beverage stocks.”

Brokers Lanka Securities said there was heavy trading in newly listed Softlogic Holdings which accounted for the biggest turnover at 888.7 million rupees.

There were six crossings or off-market private deals totalling 8.1 million shares at prices ranging between 20 rupees, 21 rupees and 24 rupees. The stock closed at 25.50, up 7.40.

There were also active trading in Vallibel One and Orient Garments, both recently listed stocks.