Sri Lankan stocks close 0.25-pct up

June 22, 2010 (LBO) – Sri Lankan stocks closed higher Tuesday as price gains on selected midcap and small value shares pushed the market up on low volume trading, while penny stocks continued to be heavily traded, brokers said. Commercial Bank closed at 194.50 rupees, up 25 cents, Hatton National Bank closed at 292.00m rupees, up 1.25, Nations Trust Bank closed at 49.50 rupees, down 25 cents, Sampath Bank closed at 331.00 rupees, down 3.75 and Seylan Bank closed 81.00 rupees, up 2.25 with almost 460,000 shares traded.

Nations Trust Bank closed at 250 rupees, up 1.75 and DFCC Bank closed at 266.00 rupees, down 2.50.

Sri Lanka Telekom, a fixed line operator, closed at 38.50 rupees, up 50 cents, and Dialog Telekom closed flat at 10.00 rupees, with 6.67 million shares traded.

The All Share Price Index closed at 4,670.32, up 11.64 points, while the Milanka index of more liquid stocks rose 0.11 percent (5.89 points) to close at 5,345.65.

Turnover was 455 million rupees, according to stock exchange provisional figures.

Penny stocks continued to be heavily traded, brokers said.

Seylan Merchant Bank closed at 1.60 rupees, up 10 cents with 6.6 million shares traded, while Blue Diamond Jewellery Worldwide closed at 2.50 rupees, up 10 cents with over one million shares changing hands, brokers said.

Midcap stocks like Amaya Leisure closed at 92.00 rupees, up 4.00, Browns Beach Hotels closed at 85.75 rupees, up 5.75, C W Mackie closed at 52.25 rupees, up 4.25, and Hunters and Company closed at 900.00 rupees, up 100 on thin trading volumes, brokers said.

LB Finance closed at 136.75 rupees, up 2.75, NAMAL Acuity Value Fund closed at 77.25 rupees, up 2.25, Overseas Reality closed at 19.00 rupees, up 1.00, Renuka City Hotel closed at 263.50 rupees, up 18.50 on 100 shares traded.

Hayleys closed at 305.50 rupees, down 4.25 rupees on low volume trading, Hemas Holdings closed at 176.00 rupees, down 25 cents and John Keells Holdings, an index heavy stock, closed at 205.75 rupees, up 75 cents.