Sri Lankan stocks close 0.98-pct up

Officials from the CA Sri Lanka overseas chapters

July 26, 2010 (LBO) – Sri Lankan stocks closed higher and passed the 4,900 point mark Monday, as investors continued their buying spree, while there was systematic profit taking on selected high value and midcap companies, brokers said.

The All Share Price Index closed at 4,943.53, up 48.02 points, while the more liquid Milanka index rose 0.92 percent (50.77 points) to close at 5,595.90.

Turnover was 2.1 billion rupees, according to stock exchange provisional figures.
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“Investor sentiment continued to spiral up on the premise of the June quarter earnings starting to show good signs,” Nikita Tissera, manager research at stock brokering firm SC Securities said.

“Dialog, John Keells Holdings (JKH) and Richard Peiris Company (RPC) saw attention from institutional and retail investors.”

Brokers said investors were seen chasing after mid and small cap stocks that offered good value.

Amana Takaful closed at 3.30 rupees, down 1.00 with a million shares traded, Hotel Reefcomber closed at 4.20 rupees, up 10 cents with 2.13 million shares changing hands and Lanka Cement closed at 30.50 rupees, up 2.50 with almost 1.7 million shares traded.

RPC closed at 99.75 rupees, up 7.75 with 3.17 million shares traded, brokers said.

Aitken Spence closed at 1,800.00 rupees, up 100.00, Hayleys closed at 305.00 rupees, up 25 cents, Hemas Holdings closed at 38.00 rupees, up 1.00 with 2.1 million shares traded and John Keells Holdings, an index heavy stock closed at 234.50 rupees, up 4.50.

Commercial Bank closed at 180.75 rupees, up 50 cents, Hatton National Bank closed flat at 290.00 rupees, Nations Trust Bank closed at 59.75 rupees, up 2.25, Sampath Bank closed at 365.00 rupees, up 5.00 and Seylan Bank closed flat at 78.00 rupees.

Dialog Axiata closed at 10.50 rupees, up 25 cents with 13.5 million shares traded, while Sri Lankan Telecom closed at 36.25 rupees, down 25 cents.

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