Sri Lanka stocks up on credit hopes

Jan 12, 2012 (LBO) – Sri Lankan stocks closed 1.3 percent higher Thursday on expectations of a credit rule relaxation by the securities regulators with illiquid and speculative stocks leading the charge, brokers said. Colombo’s benchmark All Share Index closed 77.4 points higher at 5,942.4 points up 1.32 points while the Milanka Index of more liquid stocks rose 1.11 percent to close at 5,065.68, up 55.46 points.

Turnover was a 1,063 million rupees.

Asia Capital rose 5.00 rupees to closed at 66.20, Asian Alliance Insurance rose 6.40 to close at 161.70, Associated Motor Finance rose 69.70 to 369.80 with 200 shares traded and Beruwala Walk Inn rose 20.80 to close at 167.00 with 100 shares traded.

Colombo Dockyard rose 8.00 rupees to close at 243.00 with 400 shares traded, Colonial Motors rose 19.80 to 409.80 with 100 shares traded.

Colombo Land rose 1.00 to 55.30 with 401,000 shares traded, ERI rose 5.30 to 34.40 with 8.4 million shares traded and Ceylon Leather Products rose 10.10 to close at 109.60 rupees.

John Keells Holdings fell 2.30 to close at 163.90 rupees, Aitken Spence fell 1.50 to close at 113.50 rupees, Ceylon Tobacco fell 4.40 to close at 475.50 rupees.