Sri Lanka stocks close up 0.3-pct

CEAT Kelani Holdings Managing Director Ravi Dadlani (right) and Lanka Ashok Leyland CEO Umesh Gautham exchange the OEM agreement

Jan 12, 2011(LBO) – Sri Lankan stocks closed 0.3 percent higher Wednesday with Colombo’s benchmark index topping the 7,000 mark, brokers said. Over 3.8 million Odel shares changed hands and the stock closed at 49.50, up 1.90 while index heavy John Keells Holdings closed at 295.10, up 0.10 cents with over 625,000 done.

Distilleries company closed at 179.30, down 0.90 cents with 2.1 million shares changing hands. There were four crossings at 178.00.

Panasian Power closed at 4.20, up 0.50 with over 35 million shares done. The All Share Price Index closed at 7,014.85, up 0.32 percent (22.14 points) while the Milanka Price Index of more liquid stocks closed at 7,327.227, up 0.17 percent (12.52 points) according to stock exchange provisional figures.

Turnover was 5.6 billion rupees. There were 132 gainers and 84 losers.

“Extensive retail investor interest was seen compared with the institutional and high-net-worth individual trading in the market while profit taking was also evident,” brokers said.

The biggest contributor to trading was Laugfs Gas with its voting shares closing at 54.00, up 5.10 with over 15 million shares traded. Non-voting shares closed at 40.50, down 0.70 with 6.2 million shares changing hands.

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