Sri Lankan shares up 0.11 percent; large deals in John Keells

June 27, 2012 (LBO) - Sri Lankan share prices rise on Wednesday, driven by large trades in market heavyweight John Keells Holdings PLC and fabric maker, Textured Jersey Limited, brokers said. John Keells Holdings, dominated trading with two large trades, brokers said. A quantity of 284,000 JKH shares was sold at 190.00 rupees while a block of 3,367,000 shares traded at 182.50 rupees.

JKH closed down 1.00 rupee to 189.00 rupees on trades of 3.735 million shares.

Textured Jersey, which is partly owned by one of Sri Lankaâ€™s biggest clothing manufacturers Brandix, saw a parcel of 4,246,400 shares sell at 7.70 rupees. The counter closed flat at 7.70 rupees on trades of 4.23 million shares.

Commercial Bank of Ceylon PLC, one of the islandâ€™s most profitable lenders, saw its non-voting stock close flat at 74.00 rupees on trades of 428,738 shares. The broader All Share Price Index gained 5.70 points or 0.11 percent to close at 4,995.69, while the liquid Milanka Price Index slipped 1.59 percent or 0.04 points to end at 4,433.96, according to Colombo Stock Exchange figures.

The new S&P (Standard & Poorâ€™s) Sri Lanka 20 index, which tracks the top 20 most liquid stocks, closed down 2.90 points or 0.10 percent to 2,848.88, data showed.

Wednesdayâ€™s turnover was 972.5 million rupees, lower than 8.08 billion rupees posted on Tuesday, largely due to one-off deal in conglomerate Aitken Spence Holdings PLC.

Foreign buying accounted for 85.23 million rupees over sales of 77.65 million rupees.