Sri Lankan shares up 1.37-pct

Aug 27, 2009 (LBO) – Sri Lankan shares closed up on Thursday led by hotel stocks and index-heavy John Keells Holdings which close up despite foreign selling, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed up 1.37 percent (35.01 points) to close at 2,588.04 while the Milanka index of liquid stocks gained 1.07 percent (30.94 points) to close at 2,935.15, according to provisional stock exchange data.

Turnover was 1.14 billion rupees, driven by large parcels John Keells and hotels.

On Thursday there were net foreign outflows worth 57.69 million rupees, with foreign investors buying 311.65 million worth shares and selling shares valued at 369.35 million rupees, brokers said.

“Renewed optimism in the tourism sector has boosted the market,” Mohandas Thangarajah, from First Guardian Securities, a brokerage said.

“The optimism is due to signs of the global recession is coming to an end.”

Brokers said 1.35 million JKH shares changed hands at 1.35 rupees with foreign investors selling out in an off-the-floor transaction. The stock closed at at 136.00, up 75 cents.

Dialog Telekom, a unit of Telekom Malaysia closed at 5.50 rupees, up 25 cents with 2.1 million shares traded. Sri Lanka Telecom closed at 42.50 rupees, up 75 cents.

Commercial Bank closed flat at 150.25 rupees, up 3.25, while Distilleries Company of Sri Lanka, a unit of Sri Lanka’s Stassens group closed at 85.00 rupees, up 75 cents.

Ceylon Tobacco Company, a unit of multinational British American Tobacco closed at 175.50 rupees, down 7.75, while Chevron Lubricants Lanka, closed at 145.75 rupees, up 25 cents.

Confifi Hotels closed at 136.50 rupees, up 1.50, while Hotel Sigiriya closed at 65.75 rupees, up 1.25. Brokers said 2.29 million Hotel Reefcomber shares changed hands as it closed at 1.70 rupees, up 10 cents.

Hunas Falls Hotel closed at 57.50 rupees, up 4.25, while Nuwara Eliya Hotels closed at 354.50 rupees, up 9.50 rupees.

Renuka City Hotels closed flat at 159.00 rupees, up 9.00, while Sigiriya Village closed at 44.50 rupees, up 4.75.

Tangerine Beach Hotel closed at 67.75 rupees, up 7.50, while city hotel, Trans Asia Hotel, a unit of JKH Group closed at 126.00 rupees, up 50 cents.

Riverina Hotels closed at 67.25 rupees, up 2.00, while Hotel Services closed at 20.50 rupees, up 2.25 on 6.47 million shares traded.