Sri Lankan shares up 0.34-pct

Aug 06, 2009 (LBO) – Sri Lankan stocks closed up Thursday with investors apparently optimistic of foreign inflows, while selected counters saw some volatility on poor corporate earnings, brokers said.

The benchmark Colombo All Share Price Index (ASPI) closed up 0.34 percent (8.57 points) to end at 2,526.08 Thursday, while the Milanka index of liquid stocks gained 0.72 percent (20.48 points) to close at 2,874.81, according to provisional stock exchange data.

Turnover was 353.16 million rupees.

On Thursday there were net foreign inflows worth 25.9 million rupees, with foreign investors buying 99.8 million worth shares and selling shares valued at 73.9 million rupees, brokers said.

“Market sentiment is fairly strong mainly on expectations of foreign inflows,” Shivantha Meepage of Acuity Stockbrokers said.

“We expect the market to hold steady in the coming weeks, while selected stocks may still show some volatility depending on their second quarter earnings.”

Almost 1.5 million Dialog Telekom shares and 1.7 million Hotel Reefcomber shares changed hands, brokers said.

Dialog Telekom closed flat at 6.00 rupees, while Hotel Reefcomber closed flat at 1.60 rupees.

Index heavy conglomerate John Keells Holdings closed at 135.00 rupees, up 1.00, while Distilleries Company of Sri Lanka, a unit of unlisted Stassens Group closed at 87.00 rupees, down 1.00.

Commercial Bank of Ceylon closed at 144.75 rupees, up 25 cents, while Chevron Lubricants Lanka, the Sri Lankan unit of U S based petroleum giant Chevron closed at 129.50 rupees, up 1.50.
Fixed line operator Sri Lankan Telecom closed at 45.50 rupees, down 50 cents.

Retail favourite Lanka Cement closed at 31.75 rupees, down 2.00, while Lanka Orix Leasing Company closed at 106.00 rupees.

Hatton National Bank closed at 128.50 rupees, up 50 cents, while National Development Bank closed at 106.50 rupees, up 50 cents.

Sampath Bank closed flat at 125.00 rupees.

Brokers said 1.2 million Piramal Glass shares changed hands today. Piramal Glass closed flat at 1.70 rupees.