Sri Lankan stocks close 0.97-pct higher

Feb 19, 2010 (LBO) – Sri Lankan stocks closed up Friday as investors bought high value shares, while a private deal on trading company C W Mackie boosted turnover, brokers said. The All Share Price Index closed at 3,768.81, up 36.04 points Friday, while the Milanka index of more liquid shares gained 1.97 percent (83.80 points) to close at 4,343.04.

Turnover was 1.67 billion rupees, according to stock exchange provisional figures.

“The market reacted positively to December quarter earnings,” Nikita Tissera, research manager at SC Securities said.

“Majority of corporate earnings lived up to or went beyond analysts’ December quarter forecasts.”

A stock exchange filling by Ceylinco Stockbrokers said 10.43 million shares (a 29-percent stake) of C W Mackie, a trading company, was bought by T Senthilverl at 35 rupees per share in a private deal. It closed at 41.25 rupees, up 7.00

Conglomerate John Keells Holdings closed at 170.00 rupees, up 50 cents, and Distilleries Company of Sri Lanka closed at 117.00 rupees, up 2.00.

Commercial Bank closed at 190.00 rupees, up 2.00, Hatton National Bank closed at 179.75 rupees, up 4.50, Sampath Bank closed at 229.00 rupees, up 1.25 and Seylan Bank closed at 43.50 rupees, up 50 cents.

DFCC Bank closed at 177.00 rupees, up 1.00.

Environmental Resources Investments shares whose prices fluctuated this week, closed at 239.25 rupees, up 13.50. Its 0000 warrants closed at 149.00 rupees, up 9.75, and 0001 warrants closed at 147.75 rupees, up 7.75.

Sri Lanka Telecom, a fixed line operator closed at 40.00 rupees, down 50 cents, and Dialog Telekom, a unit of Telekom Malaysia closed at 7.25 rupees, up 50 cents.