Sri Lanka stocks edge up, gains in Nestlé, Distilleries

EconomyNext – Sri Lankan stocks closed higher for the second day Friday led by gains in beverage and food firms which reported improved December 2014 quarter core earnings, brokers said. 

The benchmark All Share Price Index edged up 8.74 points (0.12 percent) to end at 7,314.91 while the S&P SL20 index, which tracks the top 20 largest and most liquid stocks, rose 23.35 points or 0.57 percent to close at 4,136.69.

Turnover was 1.1 billion rupees with several off-the-floor negotiated deals in John Keells Holdings and big banks, brokers said.

The benchmark index moved up on gains in Nestlé Lanka which ended at 2,363.50 rupees, up 53.50 or 2.32 percent, Distilleries Company which closed at 238.00, up 5.90 rupees or 2.54 percent and the illiquid Shalimar (Malay), which rose 8.7 percent or 190.10 to 2,375.00.

Sampath Bank, which reported a 23 percent rise in December 2014 quarter profit, went up 7.70 or 2.95 percent to end at 268.50.

The top gainers were Tea Small Holders which rose almost 10 percent (4.00) to 44.90 rupees and Shalimar, both only on a few trades.

There were crossings of 300,000 National Development Bank at 255.00 and 100,000 Hatton National Bank non-voting at 180.00. NDB closed at 255.10, up 4.30 (1.71 percent) while HNB non-voting closed at 179.10, up 1.10 (0.62 percent).

Correction – Correcting last para reference to crossings. Only crossings were NDB and HNB non-voting.Correcting HNB non-voting price change.






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