Sri Lanka stocks closed up 0.3-pct

(From left) Dharmasri Kumaratunga, Director - Payments and Settlements, Central Bank; Nanda Fernando, Managing Director, Sampath Bank; and Tharaka Ranwala, Head of Operations and Group Chief Marketing Officer, Sampath Bank

Jan 25, 2012 (LBO) – Sri Lanka’s stocks closed up 0.36 percent Wednesday with illiquid stocks which lost ground in recent days recovering some losses, in thin trading brokers said. The benchmark Colombo All Share Index closed up 20 points at 5,556 points and the Milanka Index of more liquid stocks rose 26 points or 0.55 percent to close at 4,736.93 points.

Turnover was 628 million rupees.

ACL Plastics rose 5.00 rupees to close at 108.00 rupees, Amaya Leisure rose 1.20 to close at 70.60 rupees, Asian Alliance Insurance rose 2.20 to close at 131.70, Carsons Cumberbatch an index heavy stock rose 5.90 rupees to 490.00.

Ceylon Cold Stores rose 6.30 rupees to 91.30, Ceylon Leather Products rose 4.00 rupees to 99.30 and Colombo Pharmacy rose 22 rupees to 970 rupees, Industrial Asphalts rose 30 rupees to 430 and Sathosa Motors rose 56.80 to 267.50 rupees.

John Keells Holdings was flat at 160 rupees and Dialog Axiata fell 10 cents to close at 6.90 rupees.

Sri Lanka’s stocks rose steeply last year helped by loose policy and credit but the banking system has since tightened, interest rates are moving up and the market is correcting.