Sri Lankan shares close 1.66-pct up

Sep 07, 2009 (LBO) – Sri Lankan shares closed up almost across the board Monday as retail investors bet heavily on hotel stocks, while strategic investors bought into high value counters such as Commercial Bank, brokers said. The benchmark Colombo All Share Price Index (ASPI) was up 1.66 percent (43.78 points) to close at 2,674.55 while the Milanka index of liquid stocks gained 1.35 percent (40.22 points) to close at 3,023.77, according to provisional stock exchange data.

Turnover was 714.1 million rupees.

“The positive momentum is continuing in the market and the market is expected to stabilize at a higher level in the medium term,” Thakshila Hulangamuwa, vice president at Asha Phillip Securities said.

“The main retail attraction in the market was the hotel and tourism sectors.”

In an off-the-floor deal two blocks consisting 676,100 Commercial Bank of Ceylon shares changed hands at 153.00 rupees. It closed at 153.75 rupees, up 2.25, while Ceylon Tobacco, a unit of British American Tobacco closed at 171.00 rupees, up 3.00.

Confifi Hotels closed at 139.00 rupees, up 3.00, while Eden Hotel Lanka closed at 25.75 rupees, up 1.50.

Hotel Developers closed at 132.75 rupees, up 4.00 rupees, while Hunas Falls Hotels closed at 57.00 rupees, up 4.25.

John Keells Hotels closed at 17.00 rupees up 2.00 on 737,400 shares traded, while Renuka City Hotel closed at 164.50 rupees, up 8.75 on thin volume trading.

Tangerine Beach Hotels ended at 73.75 rupees, up 2.50, while Cinnamon Lakeside Colombo (formerly Trans Asia Hotel) closed at 149.00 rupees, up 15.00.

Environmental Resources Investments (formerly Walker & Grieg) was heavily traded. Warrant 001 closed at 30.50 rupees, down 25 cents with 432,200 traded. Warrant 002 closed at 29.50 rupees, down 25 cents with 851,200 traded.

Environmental Resources Investments ordinary shares closed at 42.00 rupees, down 25 cents with 204,100 shares traded.

Hatton National Bank closed at 144.75 rupees, up 75 cents, while Distilleries Company of Sri Lanka closed at 82.00 rupees, up 50 cents.

Index heavy conglomerate John Keells Holdings closed at 136.50 rupees, up 1.00.

Celco Dialog Telekom closed at 6.00 rupees, up 25 cents, while fixed line operator Sri Lanka telecom closed 42.00 rupees, up 75 cents.

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