Sri Lankan stocks close up 0.82-pct

Officials from the CA Sri Lanka overseas chapters

July 30, 2010 (LBO) – Bullish Sri Lankan investors drove stock prices higher in record territory Friday continuing a buying spree with large deals on Environmental Resources Investments (ERI) group boosting revenue, brokers said. The All Share Price Index closed at 5,161.18, up 42.08 points, while the more liquid Milanka index gained 0.
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85 percent (49.33 points) to close at 5,854.73.

Turnover was 5.38 billion rupees, according to stock exchange figures.

Brokers said price gains on index heavy ERI group helped push the market up.

Environmental Resources Investments closed at 130.00 rupees, up 5.25 with 2.5 million shares traded.

Its W0001 warrant closed at 113.50 rupees, up 5.75, W0002 closed at 66.25 rupees, up 15.25 with 7.3 million shares changing hands, W0003 closed at 61.00 rupees, up 14.25 with 7.0 million shares traded and W0006 closed at 60.00 rupees, up 13.00 with over 8.2 million shares traded.

In a privately negotiated off-the-floor deal 9.9 million shares of Dankotuwa Porcelain, a unit of ERI changed hands between 65.00 to 97.00 rupees, brokers said. It closed at 83.75 rupees, up 21.75.

Dankotuwa has 24.1 million shares in issue, with 13.5 million shares lodged at the central depository system, brokers said.

Commercial Bank closed at 189.00 rupees, up 2.00, Hatton National Bank closed at 294.00 rupees, down 3.00, Sampath Bank closed at 374.00 rupees, down 3.50 and Seylan Bank closed at 80.00 rupees, up 50 cents.

Janashakthi Insurance closed at 15.50 rupees, up 25 cents with 16.8 million shares traded.

John Keells Holdings closed at 247.50 rupees, up 4.25.

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