Sri Lankan stocks up 0.22-pct

Aug 26, 2009 (LBO) – Sri Lankan shares closed up on Wednesday as investors eyed selected blue chip and hotel counters looking to profit from a possible resurgence in the medium term, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed up 0.22 percent (5.59 points) to end at 2,553.03 while the Milanka index of liquid stocks gained 0.43 percent (12.35 points) to close at 2,904.21, according to provisional stock exchange data.

Turnover was 437.2 million rupees.

On Wednesday there were net foreign outflows worth 29.83 million rupees, with foreign investors buying 57.23 million worth shares and selling shares valued at 87.06 million rupees, brokers said.

“Hotels continued to gain market interest especially from retail investors,” Nirodha Bohingamuwa of Bartleet Mallory Stockbrokers said.

“Seylan Bank non-voting gained some interest from retail investors on the forthcoming fresh capital issue.”

Brokers said 1.8 million Seylan Bank non-voting shares changed hands. It closed at 8.75 rupees, up 1.00.

Index heavy conglomerate John Keells Holdings closed at 135.25 rupees, up 25 cents, while Sampath Bank closed at 136.25 rupees, up 1.25.

Ceylon Tobacco Company, a unit of multinational British American Tobacco closed at 183.25 rupees, up 7.50, while Chevron Lubricants Lanka, a unit of US based petroleum giant Chevron closed at 145.50 rupees, up 4.50.

Commercial Bank closed flat at 147.00 rupees, while Distilleries Company of Sri Lanka, a unit of unlisted tea company Stassens Group closed at 84.25 rupees, down 25 cents.

Sri Lanka’s largest celco Dialog Telekom, a unit of Telekom Malaysia closed flat at 5.25 rupees, while fixed line operator Sri Lanka Telecom also closed flat at 41.75 rupees.

Confifi Hotels closed at 135.00 rupees, up 4.50, while Hotel Sigiriya closed at 64.50 rupees, up 2.50.

Hunas Falls Hotel closed at 53.25 rupees, up 25 cents, while Nuwara Eliya Hotels closed at 345.00 rupees, up 7.00 rupees.

Renuka City Hotels closed flat at 150.00 rupees, while Sigiriya Village closed at 39.75 rupees, up 75 cents.

Tangerine Beach Hotel closed at 60.25 rupees, up 1.25, while city hotel, Trans Asia Hotel, a unit of JKH Group closed at 125.50 rupees, down 2.25.

Riverina Hotels closed at 65.25 rupees, up 2.50.