Sri Lankan stocks close 0.82-pct up

Apr 30, 2010 (LBO) – Sri Lankan stocks closed higher Friday as a few high value banking stocks pushed the market up, while some retail investors took profits on selected hotel and plantation shares on a shortened trading day, brokers said. Hotel Sigiriya closed at 60.75 rupees, down 2.25, Kandy Hotels Company 150.00 rupees, down 5.75, The Nuwara Eliya Hotels Company closed at 440.00 rupees, down 1.25,

Elpitiya Plantations closed at 38.00 rupees, down 2.00, Horana Plantations closed at 35.00 rupees, down 1.00, Kahawatte Plantations closed at 39.75 rupees, down 75 cents, Malwatte Valley Plantations closed at 52.75 rupees, down 1.00.

Foreign investors bought 74 million rupees worth of shares and sold 152 million, resulting a net outflow of 78 million rupees, brokers said.

Updated The All Share Price Index closed at 4,188.88, up 33.88 points while the more liquid Milanka index rose 0.36 percent (17.04 points) to close at 4,712.43.

Turnover was 1.09 billion rupees, according to stock exchange provisional figures.

High interest in some banking stocks pushed the Milanka index past the 4,700 point mark, brokers said.

Commercial Bank of Ceylon closed at 239.50 rupees, up 50 cents, Hatton National Bank closed at 134.50 rupees, up 4.50 and Sampath Bank closed at 290.25 rupees, up 10.75.

John Keells Holdings closed at 185.25 rupees, up 25 cents, and Distilleries Company of Sri Lankan closed at 124.50 rupees, up 1.25.

Brokers said there was selected profit taking on plantation and hotel sector stocks.

Browns Beach closed at 89.50 rupees, down 50 cents, Eden Hotel Lanka Limited closed at 44.75 rupees, down 25 cents, Hotel Reefcomber closed at 3.70 rupees, down 10 cents and Hotel Services (Ceylon) closed at 30.25 rupees, down 25 cents.