Sri Lankan shares close up 0.57-pct

Dec 29, 2009 (LBO) – Sri Lankan shares closed up Tuesday as investors bought further into high net worth counters before year end, while brokers said the current positive sentiment would generate further buying interest in 2010.

The Colombo all share price index (ASPI) ended at 3,363.81, up 0.57 percent (18.92 points) while the more liquid Milanka closed at 3,826.59, up 0.46 percent (17.57 points), according to provisional stock market data.

Turnover was 620.9 million rupees.

“There will be good buying interest despite technical corrections,” Angelo Ranasinghe of Bartleet Mallory Stockbrokers said.

“The diversified sector, financial and palm oil and manufacturing sector is expected to do well in 2010.

“We expect plantations stocks to do well in 2010 due to expected rises in commodity prices,” Ranasinghe said.

Brokers said they expect the stock market to fluctuate but that the overall sentiment is positive.

Conglomerate John Keells Holdings closed flat at 170.50, and Distilleries Company of Sri Lanka closed flat at 105.50.

Commercial Bank closed at 190.00 rupees, up 1.00, Hatton National Bank closed at 168.00 rupees, down 75 cents, Sampath Bank closed at 201.00 rupees, down 50 cents and Seylan Bank closed at 36.75 rupees, down 25 cents.

National Development Bank closed at 205.50 rupees, up 50 cents, and DFCC Bank closed at 166.00 rupees, up 25 cents.

Celco Dialog Telekom, a unit of Axiata of Malaysia closed flat at 7.25 rupees, and fixed line operator Sri Lanka Telecom closed at 46.00 rupees, down 50 cents.