Sri Lanka stocks end up 0.2-pct

Apr 28, 2011 (LBO) – Sri Lankan shares closed higher Thursday with heavy trading in two banks which reported sharply higher March 2011 quarter profits, brokers said. The main All Share Price Index closed at 7,377.65, up 0.19 percent (13.87 points) while the more liquid Milanka index rose 0.29 percent (19.96 points) to close at 6,836.33, according to stock exchange provisional figures.

Turnover was two billion rupees.

Pan Asia Banking Corporation was the most actively traded stock, closing at 59.10 rupees, up 6.30 with over 3.35 million shares traded.

Pan Asia said March 2011 quarter net profit shot up 190 percent to 196 million rupees from a year ago. The bank also announced a share split of one share for every existing share.

There was also heavy trading in Commercial Bank, which was expected to report sharply higher profit for the March quarter.

The stock closed at 268 rupees, up 2.20 with one million shares going in a crossing at 265 rupees a share.