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Jul 16, 2010

Sri Lanka Stock Market Update - 16th July 2010

Sri Lankan stocks closed up Friday, boosted by price gains on selected index heavy stocks like John Keells Holdings (JKH) and Environmental Resources Investments (ERI), while Dankotuwa shares continued to be heavily traded, brokers said. The All Share Price Index closed at 4,693.82, up 55.11 points, while the Milanka index of more liquid shares rose 2.05 percent (107.49 points) to close at 5,339.80. Turnover was 2.67 billion rupees, according to stock exchange provisional figures.

At the end of trade there were 77 gainers and 88 losers, brokers said.

"Sectors such as banking, trading and investment trusts moved up, while retail investors were seen chasing low value speculative shares," Sahani De Silva, research analyst at Bartleet Mallory Stockbrokers said.

Index heavy ERI normal shares closed at 90.50 rupees, up 18.75, while its 0001warrants closed at 69.75 rupees, up 13.25, warrants 0002 closed at 39.00 rupees, up 9.00, warrants 0003 closed at 36.25 rupees, up 6.50 and warrants 0006 closed at 37.00 rupees, up 7.50.

In a privately negotiated off-the-floor deal 342,642 JKH shares changed hands at 210.00 rupees. It closed at 217.00 rupees, up 6.00.

Hayleys closed at 301.00 rupees, up 25 cents, and Hemas Holdings closed at 36.25 rupees, up 50 cents.

Shares of loss-making Dankotuwa Porcelain, which has found an investor to help with a turnaround, continued to be heavily traded, brokers said. It closed at 52.25 rupees, up 1.25 with 6.4 million shares traded, brokers said.
Brokers said investors expecting strong June quarter results were re-entering the market.

Commercial Bank closed at 179.25 rupees, up 25 cents, Hatton National Bank closed at 282.00 rupees, up 75 cents, Nations Trust Bank closed at 56.25 rupees, down 25 cents, Sampath Bank closed at 340.00 rupees, up 25 cents and Seylan Bank closed at 79.75 rupees, up 1.50.

In a private deal 235,000 National Development Bank shares changed hands at 240.00 rupees. It closed at 241.00 rupees, up 75 cents. DFCC Bank closed at 259.75 rupees, up 5.75.

Foreign investors bought 584.6 million shares and sold 636.5 million, resulting in a net foreign outflow of 51.9 million rupees, brokers said.

Courtesy - LBO


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