Market up

The MPI which tracks the most liquid stocks gained 14 points (+0.5 percent) to close at 2,722 on Tuesday despite the ASPI losing 7 points (-0.3percent) to close at 2,432. Turnover for the day was Rs 568 million coming mainly from Confifi Hotel Holdings.

The share closed up Rs 3.25 to Rs 113.50 on turnover of Rs 92 million. Nestle Lanka saw Rs 53 million of business while the share closed unchanged at Rs 350.00.

Price gains were seen in Singer Industries, up Rs 19.00 (+27 percent) to close at Rs 90.00 on a volume of 300 shares, Seylan Merchant Bank (non-voting), up 10 cents to close at 50 cents and York Arcade Holdings, up Rs 1.75 (+15percent)to close at Rs 13.50.

Of the large cap companies, Dialog gained 25 cents to close at Rs 5.25, while Sri Lanka Telecom lost 75 cents to close at Rs 48.75. Distilleries Company gained 75 cents to close at Rs 87.75 while John Keells Holdings was down 25 cents to close at Rs 136.75.

Hotel Stocks, John Keells Hotels lost 50 cents to close at Rs 12.25, while Asian Hotels and Properties lost Rs 1.00 to close at Rs 53.75. Aitken Spence Hotel Holdings also declined Rs 4.75 to close at Rs 145.00

Oil crossed the US$70.00 mark to trade between US71-72/barrel in Asin trading while Asian stock markets ended the mixed.

Source: First Guardian Equities