Sri Lanka stocks close up on credit easing hopes

Aug 08, 2011 (LBO) - Sri Lankan stocks closed up 0.8 percent, Monday after losing ground in early trade, after the securities watchdog said broker credit rules may be relaxed, brokers said. The benchmark All Share Price Index ended up 0.82 percent or 55.68 points at 6,806.97, while the Milanka Index of more liquid stocks closed up 0.

74 percent (45.78 points) at 6,198.01, according to stock exchange provisional figures.

Turnover was 1.7 billion rupees.

Ceylon Grain Elevators shares were the main contributor to the day’s turnover, closing at 144.4 rupees, up 19.60 rupees or 15.71 percent, with 2.8 million shares worth 380.8 million rupees changing hands.

Bairaha Farms was the second largest contributor to the day’s turnover, closing at 312.10 rupees, up 18.10 rupees or 6.16 percent, with 223,500 shares worth 68.9 million rupees changing hands.

Guardian Capital Partners PLC (WAPO), a speculator favourite, closed at 209.10 rupees up 35.20 rupees or 20.24 percent, with 339,400 shares worth 67.4 million rupees changing hands.

John Keells Holdings closed at 194.

50 rupees, down 2.30 rupees or 1.17 percent Day’s notable crossings or off-market negotiated deals were DFCC bank 200,000 shares at 135 rupees and Softlogic Holdings 01 million shares at 23 rupees.