Sri Lanka stocks surge 1.2-pct

Jan 08, 2014 (LBO) – Sri Lanka stocks surged 1.2 percent higher Wednesday as interest rates continued to fall, extending gains from a day earlier, brokers said. The Colombo benchmark All Share Price Index closed 77.40 points higher at 6,054.47, up 1.29 percent. The S&P SL20 closed 49.86 points higher at 3,350.31, up 1.51 percent.

Turnover was 849.52 million rupees, up from 716.25 million rupees a day earlier, with 178 firms closing up in broad-based rally with only 38 firms retreating.

Treasuries fell around 50 basis points at a weekly auction ahead of a billion US dollar sovereign fund raising by the government.

Foreign investor favourite John Keells Holdings topped the turnover list with deals of 149.41 million rupees contributing to 18 percent of total turnover today.

JKH closed 7.20 rupees higher at 235.00 rupees and Ceylon Tobacco Company closed 8.10 rupees higher at 1,206.30 rupees, contributing most to the index gain.

JKH’s W0022 warrants closed 4.20 rupees higher at 89.10 rupees and its W0023 warrants closed 3.10 rupees higher at 96.30 rupees.

Commercial Bank closed 1.70 rupees higher at 124.60 rupees with an off market transaction of 63.54 million rupees contributing to 7 percent of turnover.

The Finance Company closed 1.50 rupees higher at 12.20 rupees, attracting most number of trades during the day.

Foreigners bought 280 million rupees worth shares while selling 65 million rupees of shares.

Distilleries closed 5.00 rupees higher at 200.00 rupees and Cargills Ceylon closed 5.40 rupees higher at 148.60 rupees.

Nestle Lanka closed 11.20 rupees higher at 2,126.20 rupees and Bukit Darah closed 4.20 rupees higher at 620.00 rupees.

Ceylinco Insurance closed flat at 1,300.00 rupees and Lanka Orix Leasing Company closed 80 cents lower at 71.20 rupees.

Aitken Spence closed 2.10 rupees higher at 106.00 rupees and Aitken Spence Hotel Holdings closed 2.30 rupees higher at 68.70 rupees.

Carson Cumberbatch closed 2.00 rupees lower at 355.00 rupees and Lion Brewery closed 9.90 rupees higher at 374.90 rupees.

Sri Lanka Telecom closed 10 cents lower at 37.50 rupees and Dialog Axiata closed 10 cents higher at 9.10 rupees.

Asian Hotels and Properties closed 70 cents higher at 64.80 rupees and Commercial Leasing and Finance closed 10 cents lower at 3.80 rupees.

HNB closed 1.20 rupees higher at 151.00 rupees and Sampath Bank closed 1.60 rupees higher at 172.00 rupees.

DFCC closed 5.30 rupees higher at 140.10 rupees.