Sri Lankan stocks hit new high

Apr 07, 2010 (LBO) – Sri Lankan stocks hit a record high and passed 3,900 points Wednesday as institutional and high net-worth investors bought index-heavy, high-value shares, brokers said. Colombo’s All Share Price Index (ASPI) closed at 3,909.61, up 39.26 points, while the Milanka index of more liquid shares gained 1.26 percent (56.12 points) to close at 4,497.24.

Turnover was 2.77 billion rupees, according to stock exchange provisional figures.

Price increases in index heavy stocks pushed the market up, brokers said.

The ASPI passed 3,900 points for the first time, brokers said.

John Keells Holdings closed at 190.00 rupees, up 4.00 with almost 5.3 million shares traded. Aitken Spence closed at 425.00 rupees, up 5.00, Hayleys closed at 239.75 rupees, up 3.00 and Hemas Holdings closed at 118.75 rupees, down 1.25.

Distilleries Company of Sri Lanka closed at 123.25 rupees, up 1.25 with 3.27 million shares changing hands, brokers said.

Commercial Bank of Ceylon closed at 225.00 rupees, down 2.00, Hatton National Bank close at 212.25 rupees, up 7.25, Sampath Bank closed at 234.75 rupees, up 5.00 and Seylan Bank closed at 50.00 rupees, up 50 cents.

Institutional investors also bought selected mid-cap stocks, brokers said.

Asia Capital, an investment bank controlled by Vijayeswaran Vijayaratnam, closed at 15.25 rupees, up 1.50 with 1.37 million shares traded, brokers said.

Aitken Spence Hotel Holdings closed at 425.00 rupees, up 5.00, John Keells Hotels closed at 19.50 rupees, up 75 cents, Renuka City Hotel closed at 240.00 rupees, up 15.00 and Cinnamon Lakeside Hotel, formerly known as Trans Asia Hotel closed at 183.50, up 5.25.

Ceylon Tobacco Company, a unit of British American Tobacco closed at 254.25 rupees, up 4.00, and Nestle Lanka, a unit of Swiss based food company Nestle, closed at 509.00 rupees, up 9.00.

Environmental Resources Investments ordinary voting shares closed at 110.00 rupees, down 2.75. Its 0000 warrants closed at 77.50 rupees, down 2.50, and 0001 warrants closed at 77.00 rupees, down 2.00.