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Sri Lanka stocks recover

Mar 16, 2011(LBO) - Sri Lankan stocks closed 1.2 percent higher Wednesday with the market rallying following three days of losses and investors doing some bargain hunting, brokers said.
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The All Share Price Index closed at 7,115.

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62, up 1.23 percent (86.60 points) while the Milanka Price Index of more liquid stocks closed at 6,643.
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74, up 0.53 percent (35.02 points), according to stock exchange provisional figures.
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Turnover was 904 million rupees.

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Lanka Cement closed at 26.50, up 1.30 rupees.

The company said it is in talks with a Chinese firm to construct a 25-storey office and shopping complex valued at about 5.

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0 billion rupees and is also looking for a local investor to re-build a defunct cement factory.
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Richard Pieris closed at 13.50, up 0.10 cents with over 2.6 million shares traded.

Piramal Glass closed at 10.90, up 0.10 cents with 1.5 million shares changing hands.

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