Sri Lanka stocks up 0.31 pct

August 02, 2012 (LBO) - Sri Lankan stocks closed flat Thursday after about an hour of spike triggered by investor confidence that credit rules would be reconsidered by treasury secretary P.B Jayasundara. The Colombo Stock Brokers Association has met treasury secretary P.B. Jayasundara and discussed ways to revive the bourse and better manage risks, and market development.

Another meeting is to be scheduled with the top blue chip companies, brokers said.

The broader All Share Price Index closed up 15.19 points to 4,960.05, while the Milanka Price Index of more liquid stocks gained 38.64 points or 0.89 percent to end at 4,395.66, according to Colombo Stock Exchange figures.

S&P 20 Index of large cap stocks rose 5.95 points to close at 2,791.68 up 0.21 percent. Thursday's turnover of 754 million rupees was dominated by John Keells Holdings with 373 million rupees and HNB with 64 million rupees. PCH Holdings contributed 54 million rupees to Thursday's turnover.

Colombo Dockyard Plc gained 3.00 rupees to close at 193.00 rupees up 1.58 percent.

DFCC gained 1.00 rupee to close at 110.00 up 0.92 percent Dialog Axiata PLC, the countryâ€™s largest mobile phone operator slipped 0.10 cents to close at 6.00 rupees.

John Keells Holdings Plc gained 1.10 rupees to close at 185.00 rupees up 0.60 percent.

Commercial Bank closed flat at 98.00 rupees while Hatton National Bank gained 1.20 rupees to close at 134.40 up 0.90 percent.

Sampath Bank gained 1.50 to close at 154.00 rupees up 0.98 percent.

Elsewhere, Shaw Wallace and Hedges PLC is calling an Extraordinary General meeting to dispose 264.65 perches of prime land in Colombo.