Sri Lankan stocks hit new high, end up 2.34-points

Apr 06, 2010 (LBO) – Sri Lankan stocks rallied across the board Tuesday with the All Share Price Index (ASPI) reaching a new high, passing the previous high of 3,844.80 points on March 12, 2010, brokers said. Colombo’s ASPI closed at 3,870.35, up 88.45 points, while the Milanka index of more liquid shares gained 2.12 percent (92.17 points) to close at 4,441.12.

Turnover was 1.2 billion rupees, according to stock exchange provisional figures.

Brokers said the Milanka Index passed its previous high of 4,439.60 points on March 15, 2010.

“Today we saw the market bounce back after a dull spell dominated largely by retail investors,” Rakshitha Perera, research manager at Bartleet Mallory Stockbrokers said.

“With the fiscal year ended it will be interesting to see how some of the companies have fared for the full year as the future growth numbers have not been factored in. Hence some of the shares are trading at a fair bit of discount relative to peers.”

Aitken Spence closed at 460.00 rupees, up 26.25, John Keells Holdings closed at 186.00 rupees, up 25 cents, Hayleys closed at 236.75 rupees, up 5.50 and Hemas Holdings closed at 120.00 rupees, up 1.75.

Brokers said 50,000 National Development Bank shares changed hands in a private off-the-floor deal at 216.00 rupees per share. It closed at 218.50 rupees, up 8.50.
DFCC Bank closed at 191.75 rupees, up 8.25.

Commercial Bank closed at 227.00 rupees, up 8.00, Hatton National Bank closed at 205.00 rupees, up 15.75, Sampath Bank closed at 229.75 rupees, up 5.75 and Seylan bank closed at 49.50 rupees, up 2.25.

Bukit Darah closed at 3,347.50 rupees, up 147.50, and Distilleries Company of Sri Lanka, an alcohol producer closed at 122.00 rupees, up 4.00.

There were 164 gainers and 26 losers at end of trade, Tuesday, brokers said.