Sri Lankan stocks up 1.04-pct on polling day

Jan 26, 2010 (LBO) – Sri Lankan stocks closed one percent higher Tuesday with domestic investors chasing mid capitalized stocks brokers said, while the country voted for a new president and the bourse closed early.

Ship builder Colombo Dockyard closed at 300.00 rupees, up 8.00, and activated carbon manufacturer Haycarb closed at 194.00 rupees, up 2.25.

Brokers said 1.17 million Overseas Reality shares were traded. It closed at 17.00 rupees, up 25 cents.

Foreigners bought 125 million rupees worth of shares, and sold 251 million rupees resulting in net sales of 126 million rupees, brokers said.

Updated The All Share Price Index closed at 3,591.38, up 36.93 points, while the Milanka index of more liquid stocks gained 1.43 percent (58.05 points) to close at 4,124.95.

Turnover was 883.2 million rupees.

“Despite a short trading day investors picked up shares ahead of presidential election results,” Nikita Tissera, research manager at stock brokering firm SC Securities said.

“The positive earnings we have seen so far for this week helped investor sentiment.”

Sri Lanka’s largest listed bank, Commercial Bank of Ceylon closed at 195.00 rupees, up 9.75, Hatton National Bank closed at 173.00 rupees, up 75 cents, Sampath Bank closed at 219.00 rupees, up 3.50, and Seylan Bank closed at 42.50 rupees, up 3.50.

National Development Bank closed at 209.75 rupees, up 6.00, and DFCC Bank closed at 172.00 rupees, 4.75.

Conglomerate John Keells Holdings closed at 174.25 rupees, up 1.25, with almost 703,000 shares changing hands, and Distilleries Company of Sri Lanka closed at 120.00 rupees, up 2.25.