Sri Lanka shares end up 0.82-pct

Mar 11, 2010 (LBO) – Sri Lankan stocks closed firmer Thursday with interest in banking stocks mainly by institutional or high-net-worth individual investors, brokers said.

Hotel Services (Ceylon) closed at 21 rupees, up one rupee, with over four million shares traded, including two blocks of 500,000 at 20 rupees a share.

Janashakthi Insurance Company closed at 14 rupees, up one rupee, with 3.76 million shares done.

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The All Share Price Index closed at 3,832.30, up 0.82 percent (31.08 points) while the more liquid Milanka index rose 0.97 percent (42.39 points) to close at 4,428.06.

Turnover was 1.2 billion rupees, according to stock exchange provisional figures.

“There was a bit of interest on the banking sector with some of the shares which fell yesterday picking up today,” said Rakshitha Perera, research manager at Bartleet Mallory Stockbrokers.

There were two large deals in DFCC Bank, one of 713,700 shares at 179 rupees and another of 145,000 shares at 180. DFCC Bank closed at 181.25 rupees, up three rupees.

Two deals of Commercial Bank were done at 193 rupees a share, one of 371,400 shares and the other of 171,400 shares. Commercial Bank closed at 193.75, up 75 cents.

There were also two deals in National Development Bank, one of 396,100 shares and another of 181,600 shares, both at 218 rupees a share. National Development Bank closed at 218, up one rupee.

A total of 1.2 million Seylan Bank non-voting shares changed hands in two blocks at 23.75 rupees a share. Seylan Bank non-voting shares closed at 23.75, up 25 cents.