Sri Lankan stocks up 4.0-pct during week

July 24, 2009 (LBO) – Sri Lankan shares gained on Friday as foreign investors pushed up trading volumes especially on selected blue chips such as John Keells Holdings (JKH) and banking counters, brokers said. Dialog Telekom a unit of Telekom Malaysia closed flat at 5.25 rupees.

“Further improvement in activity level was seen due to the IMF loan approval,” Hatangala said.

Sri Lanka Telecom closed at 47.00 rupees, down 25 cents, while NDB closed flat at 162.50 rupees.

NTB closed flat at 31.50 rupees, while Commercial Bank of Ceylon closed flat at 142.75 rupees.

Distilleries Company of Sri Lanka closed at 87.00 rupees, up 1.25.

The benchmark Colombo All Share Price Index (ASPI) closed up 0.45 percent (11.19 points) to end at 2,491.75 Friday, while the Milanka index of liquid stocks gained 1.08 percent (29.71 points) to close at 2,793.13, according to provisional stock exchange data.

Turnover was 1.08 billion rupees.

During the week the ASPI was up 4.0 percent, while the Milanka index gained 4.6 percent.

During the week there was net foreign buying worth 201.2 million rupees, with foreign investors buying 1.23 billion worth shares and selling shares valued at 1.02 billion rupees, brokers said.

Chinthana Hatangala of Lanka Securities said turnover was boosted by trading in JKH shares worth 478.2 million rupees, as well as other deals in banking sector counters like Nations Trust Bank (NTB), National Development Bank (NDB), Sampath Bank, and Commercial Bank and Dialog, Ceylon Tobacco and Dockyard.

Brokers said 3.49 million John Keels Holdings shares changed hands. JKH closed at 139.25 rupees, up 4.25, while 17.3 million Dialog Telekom shares also changed hands.