Sri Lanka stocks close up 1.27 pct

(L-R) : Jeevith Senaratne, Director Operations - Star Garment Group; Shanaka Rabel, Group Chief Digital and Transformation Officer - Stretchline Holdings Ltd; Janaka Botejue, Chairman – Bernard Botejue Industries; Sanjeewa Kodikara, Chief Information Officer- Hirdaramani Group

Aug 14, 2012 (LBO) – Sri Lanka’s stocks ended a seven day losing streak and closed up 1.27 percent Tuesday with large cap stocks trading on higher prices, brokers said. John Keells Holdings gained 9.30 rupees to close at 190.00 rupees up 5.01percent.

Aitken Spence Plc slipped 1.70 rupees to 108.30 down 1.55 percent.

AVIVA NDB Insurance PLC gained 3.00 rupees to close at 288.90 up 1.05 percent.

Colombo Dockyard PLC gained 40 cents to close at 185.40 rupees up 0.22 percent.

Commercial Bank gained 1.80 to close at 99.30 up 1.85 percent.

DFCC Bank rose 30 cents to close at 108.90 rupees up 0.28 percent.

Dialog Axiata PLC, the country’s largest mobile phone operator, closed flat at 6.00 rupees.

Distilleries dipped 20 cents to close at 118.70 rupees down 0.17 percent.

Hatton National Bank PLC rose 1.40 rupees to close at 131.60 rupees up 1.08 percent. The All Share Price Index gained 61.74 points to close at 4,908.19 up 1.27 percent while the Milanka Index of more liquid stocks gained 141.41 points (3.23percent) to close at 4514.03 and the S&P index of large cap stocks rose 39.57 points (1.45 percent) to close at 2768.84.

The turnover for the day was 535 million rupees. Top contributors were John Keells Holdings with 208 million rupees, Commercial Bank with 59 million rupees and Dialog Axiata with 31 million rupees.

Brokers said Tuesday’s positive momentum is unlikely to last as rising interest rates will deter further investment into equities.

Notable gainers for the day were PCH Holdings up 15.74 percent to close at 12.50 rupees. Kelani Tyres up 11.54 percent to close at 29.00 rupees and MTD Walkers up 11.11 percent to close at 29.00 rupees. Meanwhile, notable losers for the day were Renuka Agri Foods down by 2.38 percent to close at 4.10 rupees and Swarnamahal Financial Services down 1.69 percent to close at 5.80 rupees and Lanka Walltile down by 1.34 percent to close at 59.00 rupees.

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