Sri Lankan stocks up 1.07 percent

Chandi Dharmaratne

May 30, 2012 (LBO) – Sri Lankan share prices recovered on Wednesday, after nearly a week of sustained selling, with buying interest in selected blue-chip counters, brokers said. The broader All Share Price index gained 1.07 percent or 51.86 points to close at 4,865.12, while the more liquid 25-stock Milanka Price Index added 14.66 points or 0.33 percent to end at 4,327.97.

Nearly half of Wednesday’s turnover of 673.9 million rupees came from conglomerate John Keells Holdings PLC, according to Colombo Stock Exchange figures.

Market heavyweight JKH, with investments in transport, leisure and food, closed down 2.80 rupees at 185.00 rupees. Over 2.1 million shares worth 391.3 million rupees changed hands during the day.

Three-large blocks of JKH shares of 271,000, 430,275 and 1 million parcels crossed the trading floor at 185.00 rupees a share each.

A separate block of 158,943 JKH shares was also sold at 187.80 rupees.

Central Finance PLC, one of the country’s largest finance houses, closed up 7.70 rupees to 131.00 rupees on trades of 554,718.

Brokers said two blocks of Central Finance of 275,000 share each, crossed the floor at a pre-agreed price of 135.00 rupees each.

Citrus Leisure PLC, which owns a few beach front properties, fell 1.70 rupees to 21.30 rupees on trades of 1.7 million shares.