Sri Lanka Stocks Pass 4200 Points. Looks Well on the Way to Reach 4,300 in the Midterm

03rd May 2010, www.lankabusinessonline.com

Sri Lankan stocks passed 4,200 points Monday as price gains on selected high values shares pushed the market up, while Janashakthi Insurance and Commercial Bank trades helped turnover pass 3.0 billion rupees, brokers said.

The All Share Price Index (ASPI) closed at 4,219.22, up 30.34 points while the Milanka index of more liquid shares rose 0.84 percent (39.80 points) to close at 4,752.23.

Turnover was 3.3 billion rupees, according to stock exchange provisional figures.

"The gains made early in the day settled to a realistic level towards end of trading," Thakshila Hulangamuwa, vice president at stock brokering house Asha Phillip Securities said.

Brokers said this was the first instance the ASPI had passed the 4,200 point barrier and it looked well on the way to reaching 4,300 points in the midterm.

Carsons Cumberbatch closed at 585.50 rupees, up 16.75, and The Bukit Darah closed at 4,812.50 rupees, up 438.75. Both firms have overseas palm oil interests.

Finlays Colombo closed at 240.00 rupees, up 13.25.

Large deals on Commercial Bank of Ceylon and Janashakthi Insurance pushed turnover past a 3.0 billion rupees, brokers said.

Commercial Bank closed at 239.75 rupees, up 25 cents with 5.0 million shares traded, Hatton National Bank closed at 242.50 rupees, up 8.00, Sampath Bank closed at 290.00 rupees, down 25 cents and Seylan Bank closed at 52.75 rupees, up 1.75.

Nearly 24 million shares of Janshakthi Insurance changed hands Monday. It closed flat at 14.25, brokers said.

Conglomerates Aitken Spence closed at 1,450.00 rupees, down 25 cents, Hayleys closed at 285.00 rupees, up 4.00, Hemas Holdings closed at 133.00 rupees, up 50 cents and John Keells Holdings closed at 191.00 rupees, up 5.75.

Sri Lanka Telecom closed at 36.50 rupees, down 50 cents, and Dialog Telekom closed flat at 7.25.