Sri Lanka stocks get boost from debut of Islamic insurer on the bourse

November 27, 2006 (LBO) - Colombo stocks gained strength from the debut of an Islamic insurer of the bourse, while investors awaited the annual speech of Tamil Tiger leader Velupillai Pirabaharan, dealers said.

The ten rupee share of Amana Takaful, an Islamic insurer, opened at 28.00 rupees but soon raced up as punters chased the stock to 110.00 rupees, as very few sellers were able to lodge their stocks in the Central Depository in time. More than 50,000 shares had traded, though only 14,000 were lodged in the system.