Dec 24, 2010 (LBO) – Sri Lankan stocks closed higher Friday with private deals in two conglomerates boosting turnover, ending a week of gains that also saw net foreign selling, brokers said. Bartleet Mallory Stockbrokers said there was a mix of institutional, high-net-worth and retail investors at the start of the week, but retail investors dominated the market towards the latter part. The All Share Price Index closed at 6558.25, up 0.72 percent (46.74 points) while the more liquid Milanka index rose 0.15 percent (10.73 points) to close at 6,985.03, according to stock exchange provisional figures.
Turnover was 1.29 billion rupees.
Over 1.2 million shares of Aitken Spence changed hands in four crossings or private deals all at 168 rupees a share. The stock closed at 170.30, down 3.50.
One crossing of John Keells Holdings of a million shares was done at 304 rupees each. The stock closed at 302.50, up 2.50.
Carsons Cumberbatch and Bukit Darah began trading Friday after their share split.
Carson closed at 505.00 rupees, up 26.30 while Bukit Darah closed at 875.10 rupees, up 88.70, after hitting a high of 900.00 rupees.
Brokers Lanka Securities said the market was up three percent for the week with foreign participation accounting for 20 percent of total market activity.
Foreign investors were net sellers with a net foreign outflow of 660.4 million rupees in the week.