Sri Lanka shares close 0.46-pct higher

Mar 01, 2010 (LBO) – Sri Lankan stocks closed up Monday as investors bought selected midcap and high value shares, brokers said. JKH closed at 168.75 rupees, up 50 cents, and Distilleries Company of Sri Lanka closed at 118.00 rupees, up 150.

Commercial Bank of Ceylon closed at 197.00 rupees, down 75 cents, Hatton National Bank closed at 182.00 rupees, up 4.00, Sampath Bank closed at 238.50 rupees, up 2.00 and Seylan Bank closed at 45.75 rupees, up 75 cents.

DFCC Bank closed flat at 178.00, and National Development Bank closed at 224.00 rupees, up 1.25.

Environmental Resources Investments ordinary voting shares closed at 248.25 rupees, up 3.50. Its 0000 warrants closed at 160.50 rupees, up 1.50, and 0001 warrants closed at 161.00 rupees, up 1.50.

Diversified Hayleys closed at 212.00 rupees, up 3.00, and Hemas Holdings closed at 124.00 rupees, up 50 cents.

Sri Lanka Telecom closed at 38.50 rupees, down 1.00, and Dialog Telekom closed flat at 7.00 rupees.

Updated The All Share Price Index closed at 3,825.30, up 17.44 points, while the Milanka index of more liquid shares gained 0.82 percent (35.88 points) to close at 4,390.61 points.

Turnover was 1.03 billion rupees, according to stock exchange provisional figures.

“Selected shares moved up ahead of anticipated earnings growth,” Nikita Tissera, research manager at stock brokering firm SC Securities said.

“The earnings released so far has been predominantly positive and better than expected.”

Amana Takaful closed at 13.25 rupees, down 25 cents, Aviva NDB Insurance closed at 205.75 rupees down 4.25, Ceylinco Insurance closed at 265.00 rupees, down 5.00, Union Assurance closed at 102.25 rupees, down 6.25.

Janashakthi Insurance closed at 12.50 rupees, up 25 cents.

Over 1.15 million John Keells Hotels, a unit conglomerate John Keells Holdings (JKH) were traded Monday. It closed at 32.00 rupees, up 2.00.