Sri Lankan stocks close up 0.93-pct

Oct 08, 2010 (LBO) – Sri Lankan stocks recovered from a four day fall Friday on buying interest in midcap stocks, while index heavy weight John Keells Holdings (JKH) continued to slide, brokers said.

The All Share Price Index closed at 6,833.61, up 0.93 percent (62.87 points), while the more liquid Milanka index rose 0.72 percent (53.35) to close at 7,466.29, according to stock exchange provisional figures.

Turnover was 2.5 billion rupees.

Gains in midcap and selected high value stocks helped the market to recover, brokers sad.

LB Finance closed at 279.50 rupees, up 5.40 (1.97 percent), Sathosa Motors closed at 206.90 rupees, up 23.00 (12.5 percent), United Motors Lanka Limited closed at 238.60 rupees, up 21.60 (9.95 percent) and Brown and Company closed at 269.70 rupees, up 16.40 (6.5 percent).

JKH, a conglomerate with business interest in transport, retail, financial services and leisure sectors, closed at 321.00 rupees, down 4.00 (1.23 percent) with over 1.5 million shares traded.

Hayleys closed at 341.80 rupees, up 6.70 (2.0 percent), Carson Cumberbatch 898.00 rupees, up 26.80 (3.08 percent), and Hemas Holdings closed at 47.50 rupees, down 20 cents (0.42 percent).

Arpico Finance Company closed at 135.00 rupees, up 18.80 (16.18 percent) on 300 shares changing hands. Colombo Pharmacy Company closed at 1,773.90 rupees, up 166.90 rupees (10.4 percent) on 800 shares traded, brokers said.