Sri Lanka stocks close up one percent

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

Dec 23, 2011 (LBO) – Sri Lankan stocks closed higher for the second straight day after several days of losses with turnover boosted by deals in index heavyweight John Keells Holdings and Commercial Bank, brokers said. The main All Share Price Index rose 1.07 percent (63.23 points) to 5,982.58, while the more liquid Milanka index rose 0.43 percent (22.05 points) to 5,189.86.

Turnover was rose to 1.15 billion rupees, according to stock exchange provisional figures.

Share prics rose sharply at the opening but then tapered off towards midday.

Transactions in John Keells Holdings accounted for the largest turnover. It closed at 170.20 rupees, down 1.80, with a total of 3.27 million shares changing hands.

These included 2,745,500 JKH shares in five crossings all at 170 rupees each.

There were three crossings of Commercial Bank of a total of 1,229,300 shares all at 100 rupees each. The stock closed at 100.10, up 10 cents with 2.1 million shares traded.

Union Assurance was the day’s highest gainer, closing at 122.90 rupees, up 22.90, with 900 shares traded.

Metropolitan Resource Holdings was the second highest gainer, closing at 26.50, up 3.50 rupees on just a sole trade of 400 shares, followed by Nuwara Eliya Hotels Company, which gained 125 rupees to 1,425 on just a single transaction of 100 shares.

HVA Foods was the most actively traded stock, closing up 1.30 rupees at 37.10 with 752,700 shares done, and reaching 38.10 before falling back.

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