Sri Lanka stocks up 2.88-pct

July 29, 2011 (LBO) – Sri Lankan stocks closed sharply higher Friday, as bullish momentum continued for the fourth straight day, with active retail participation, brokers said. The benchmark All Share Price Index ended up 2.88 percent or 191.81 points at 6,845.38 , while the Milanka Index of more liquid stocks closed up 2.17 percent (131.94 points) at 6,210.07, according to stock exchange provisional figures.

Turnover was 3.1 billion rupees. There were 224 gainers and 28 losers.

Ceylon Guardian Investment Trust was the main contributor to the day’s turnover, closing at 357.60 rupees, up 48.10 rupees or 15.54 percent with 1.05 million shares worth 318 million rupees changing hands.

This included a one million share crossing or off-market negotiated deal at 300 rupees per share.

Ceylon Grain Elevators was the highest percentage gainer of the day and closed at 140.80 rupees up 35.60 rupees or 33.84 percent. More than 2.2 million shares were traded generating 298 million rupees.