Sri Lanka shares close up 1.1-pct

Feb 28, 2011(LBO) – Sri Lankan stocks closed 1.11 percent higher Monday with gains in illiquid stocks like Guardian Capital and Carson Cumberbatch and Company, brokers said. The Carsons group announced plans to buy minority stakes in its Malaysian oil palm units as part of a revamp to prepare for bigger investments and expansion outside the region, a stock exchange filling said Friday.

Piramal Glass Ceylon closed at 10.50, down 0.30 cents with over 6.2 million shares done.

Laugfs Gas closed at 52.80, up 0.70 cent and its non-voting shares closed at 42.30, up 0.50 cent with 4.5 million shares done. The All Share Price Index closed at 7,797.557, up 1.11 percent (85.93 points) while the Milanka Price Index of more liquid stocks closed at 7,140.747, down 0.40 percent (28.61 points) according to stock exchange provisional figures.

Turnover was 2.2 billion rupees. There were 77 gainers and 147 losers.

Guardian Capital Partners closed at 2,913.00, up 971.10 rupees. The company’s stock price saw a 50 percent price gain, Monday.

Other counters that saw a 50 percent price hikes are Autodrome closing at 1,137.00, up 379.00 and Union Chemicals closing at 1,000.50, up 333.50 rupees.

Carson Cumberbatch closed at 699.00, up 22.90 rupees.

The company’s unit, Good Hope closed at 1,246.60, down 102.30 rupees and while Shalimar (Malay) closed at 895.90, down 79.10 rupees.