Sri Lankan stocks close up 2.71-pct, pass 5,500 points mark

Aug 19, 2010 (LBO) – Sri Lankan stocks broke new ground yet again this week and passed 5,500 points, Thursday, from gains across the board on low volume trading, brokers said.

Hemas Holdings closed at 40.00 rupees, up 30 cents (0.76 percent) and John Keells Holdings, an index heavy stock closed at 258.00 rupees, 1.00 (0.39 percent), according to stock exchange provisional figures.

The All Share Price Index closed at 5,568.50, was up 2.71 percent (146.75 points) Thursday, while the Milanka index of more liquid stocks rose 0.66 percent (38.64 points) to close at 5,876.40, according to stock exchange provisional figures.

Turnover was 2.8 billion rupees.

Certain ‘speculative’ shares that were under watch by the regulator for price manipulation continued to gain, brokers said.

Environmental Resources Investments (ERI) normal shares closed at 108.20 rupees, up 5.30 (5.15 percent), while its Warrants 0001 closed at 90.00 rupees, up 7.70 (9.36 percent), and W0002 closed at 58.60 rupees, up 5.30 (9.94 percent).

ERI’s W0003 closed at 54.70 rupees, up 4.90 (9.84 percent) and W0006 closed at 54.40 rupees, up 4.40 (9.90 percent), according to stock exchange provisional figures.

Ceylon Leather Company, a unit of ERI closed at 258.00 rupees, up 13.50 (5.52 percent), while Dankotuwa Porcelain closed at 63.20 rupees, up 5.70 (9.91 percent).

There was high speculative interest on penny stocks, brokers said.

SMB Leasing closed at 1.90 rupees, up 10 (5.56 percent), while its non-voting shares close at 1.70 rupees, up 10 cents (6.25 percent).

Hotel Reefcomber closed at 4.50 rupees, up 30 cents (7.14 percent).

Blue Diamonds Jewellery Worldwide closed at 5.30 rupees, up 40 cents (8.16 percent), while its non-voting shares closed at 2.80 rupees, up 20 cents (7.69 percent), according to stock exchange provisional figures.

The Lion Brewery, Sri Lanka’s largest beer producer closed at 158.00 rupees, up 50 cents (0.32 percent) with almost 1.32 million shares traded, brokers said.

Aitken Spence closed at 2,462.30 rupees, up 223.80 (10 percent) on 300 shares traded, and Hayleys closed at 324.00 rupees, down 70 cents (0.22 percent) on 800 shares changing hands.