Sri Lanka shares up, JKH trades boost volumes

Dec 24, 2008 (LBO) – Sri Lankan shares ended marginally higher Wednesday with heavy trading in John Keells Holdings boosting trading volumes, brokers said.

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The All Share Price Index ended slightly higher, up 0.33 percent (4.93 points) to close at 1,506.10 while the more liquid Milanka was also up, rising 0.30 percent (4.94 points) to close at 1,648.15.

Turnover was 125 million rupees.

JKH was the most actively traded stock, with 2.2 million shares changing hands mostly at 52 rupees, up two rupees from the previous close.

The transactions contributed 115 million rupees to the day’s turnover.

Share prices of Seylan Bank and Ceylinco Insurance, two key companies in the Ceylinco group, weakened in the wake of a scandal at an unlisted group firm.

Seylan Bank lost 4.5 percent (75 cents) to end at 15.75 rupees and Ceylinco Insurance fell 8.17 percent (16.25 rupees) to 182.75. Another group firm, The Finance Company, fell 0.99 percent (25 cents) to 25 rupees.

Depositors at the scandal-hit unlisted firm, Golden Key Credit Card Company, have complained of delayed payments but the management Tuesday assured them the company was being restructured and depositors would be paid.