Sri Lankan stocks rose to a new record closing high on Monday as investors bought heavily into bourse heavyweight John Keells Ltd, expecting the bourse heavyweight to post upbeat quarterly earnings, brokers said. The key Colombo all-share index rose a provisional 0.28 percent, or 4.86 points, to 1,719.41 points. The market hit its previous all time closing high of 1,716.71 points last Tuesday.

The Milanka index - which tracks the most liquid and highly capitalised stocks - rose 0.81 percent, or 19.04 points, to 2,371.51 points.

Keells, which is the largest listed company on the Colombo bourse, rose 2.21 percent to 139 rupees. Keells' results are due to be released in the coming weeks.

The Diversified Holdings index rose 0.87 percent, or 4.94 points, to 573.31 points.

East West Properties Ltd rose 5.05 percent to 26 rupees, after the company announced a dividend on Friday.

Total market turnover was 325 million rupees, with foreign purchases of 45 million rupees and foreign sales of 23 million rupees.

Copyright Reuters, 2005