Sri Lankan shares close flat

Jan 11, 2010 (LBO) – Sri Lankan shares closed flat Monday as investors continued to bet on hotel, property and plantation stocks while retailers took profits on selected blue chip companies, brokers said. Balangoda Plantations closed at 25.75 rupees, up 75 cents, Bogawantalawa Tea Estates closed at 40.75 rupees, up 1.50, Horana Plantations closed at 22.50 rupees, up 1.00, and Kegalle Plantations closed at 38.00 rupees, up 2.00.

Palm oil company Carsons Cumberbatch closed at 561.00 rupees, up 9.25, Hapugastenne Plantations closed at 38.75 rupees, up 25 cents, Kotagala Planations closed at 32.50 rupees, up 50 cents, and Watawala Plantations closed at 93.75 rupees, up 3.75.

Brokers said 5.3 million East-West Properties shares were traded today. It closed at 12.00 rupees, up 2.75. City Housing and Real-estate closed at 20.50 rupees, up 50 cents, and On’ally Holdings closed at 40.75 rupees, up 50 cents.

Environmental Resources warrants 01 closed at 56.75 rupees, up 7.75 with 1.22 million shares changing hands, Environmental Resources warrants 00 closed at 56.50 rupees, up 8.00 with almost 970,000 shares traded.

Environmental resources voting shares closed at 77.00 rupees, up 8.25 with over 1.1 million shares changing hands today.

Sri Lanka’s largest celco Dialog Telekom, a unit of Telekom Malaysia closed at 6.75 rupees, down 25 cents, and Sri Lanka telecom closed at 43.50 rupees, up 50 cents.

The All Share Price Index closed at 3,515.78, up 0.03 percent (1.15 points) while the more liquid Milanka index gained 0.72 percent (28.89 points) to close at 4,010.47.

Turnover was 1.04 billion rupees, according to stock exchange provisional figures.

“Despite the slight dip today the market sentiment is still positive,” Nikita Tissera, research manager at stock brokering firm, SC Securities said.

“Hotel stocks continue to be favoured amongst investors due to the high occupancy rates.”

Conglomerate John Keells Holdings closed at 179.00 rupees, down 1.00, Distilleries Company of Sri Lanka closed at 116.75 rupees, down 25 cents.

Aitken Spence Hotels closed at 343.75 rupees, up 47.50, John Keells Hotels closed at 26.75 rupees, up 50 cents, Mahaweli Reach Hotels closed at 19.50 rupees, up 75 cents, Renuka City Hotel closed at 204.25 rupees, up 4.25.

Sigiriya Village Hotel closed at 40.25 rupees, up 25 cents and The Fortress Resorts closed at 14.25 rupees, up 50 cents.