Sri Lanka Market Review

Dull week pushes indices further down at Colombo

2011-07-25T02:09:00.003+01:00

Colombo All Share Price Index (ASPI) dropped below 6,500 mark during the day to post a new low since December 2010 while Milanka Price Index (MPI) dropped once below 6,000 mark, a new low since September 2010. Buying witnessed during the latter half could not help the indices close in green. Week ended with ASPI and MPI dipping 3.54% and 4.46% respectively.

Diversified sector was the main contributor to the market turnover on Friday the 22 July due to Vallibel One (VONE) and Aitken Spence (SPEN), while the sector index decreased by 0.93%.Vallibel One (VONE) was the main contributor to the market turnover. The share price decreased by Rs.0.10 (0.33%) and closed at Rs.29.90.

The All Share Price Index (ASPI) closed at 6,537.25 points, dipped 0.94% by 61.72 points while the Milanka Price Index (MPI) came down 1.13% by 69.19 points to close at 6,029.75 points as per data. Total turnover was Rs.1.3 billion increased by 22.86% with a volume of 76.84 million shares changing hands (up 52.23%). Foreign purchases rose 46.96% to Rs.133.14 million and foreign sales also topped 28.9% to Rs.219.67 million. Price to forward Earnings ratio decreased 0.88% to 22.5 times.

Banks, Finance & Insurance sector also contributed significantly to the market turnover due to Central Finance (CFIN). The sector index decreased 1.60%. Profit taking was witnessed in Central Finance (CFIN) after making gains early during this week. The share price closed at Rs.1,435 having decreased Rs.73.20 (1.06%). The share price dip of John Keells Holdings (JKH) weighed on indices while renewed interest was witnessed in Bairaha Farms (BFL).

Several crossings were done including 300,000 shares of Aitken Spence (SPEN) at Rs.140 via two crossings, Bairaha Farms (BFL) 132,400 shares at Rs.260, Seylan Bank Non-Voting (SEYB.X) 1 million shares at Rs.30 and Lanka Walltile (LWL) 300,000 shares at Rs.120 per share.

Negative sentiment prevails at Colombo

2011-07-22T07:52:00.002+01:00

Colombo Stock Indices gained marginally during early trading on Thursday the 21 July 2011 but gradually dipped down to close in red. Prices dropped across the board with low activity. However, Colombo Stock market indices dropped to year to date lowest figures during market hours.

The All Share Price Index closed at 6,598.97 points, dipped 1.25% by 83.49 points and the Milanka Price Index (MPI) drastically fell by 1.31% or 81.11points to close at 6,098.94 points during the market hours. Total turnover was Rs.1.09 billion (down 20.79%) with a volume of 50.47 million shares changing hands (up 9.15%). Foreign purchases fell 1.27% to Rs.90.6 million and foreign sales also dipped 52.8% to Rs.170.43 million. Price to forward Earnings Ratio slightly fell 1.3% to 22.7 times.

There were 40 listed gainers and 186 listed losers. Month end selling pressure coupled with short term profit taking seems to weigh on the indices. Diversified sector was the main contributor to the market turnover due to John Keells Holdings (JKH) and Softlogic Holdings (SHL), while the sector index decreased by 1.39%. John Keells Holdings (JKH) was the main contributor to the market turnover with two crossings of 336,134 shares at Rs.200. The share price decreased by Rs.2.70 (1.33%) and closed at Rs.199.90.

The top turnover contributor for the market was Nanda Investments and Finance (NIFL), a share valued at Rs.1.70 rose 50% compared to yesterday by Rs. 9.30 with a turnover of Rs.23.02 million whilst 825,100 shares changed hands. The second was Hotel Sigiriya (HSIG) which contributed Rs.21.58 million. The share price rose 12.13% to Rs.82 by Rs.8.70 and a total of 274,900 shares traded.

Citrus Leisure (REEF) also contributed Rs.13 million to the turnover with 196,100 shares traded. The share price rose by Rs.1.80 (2.77%) and closed at Rs.67.40.

Banks, Finance & Insurance sector also contributed significantly to the market turnover. The sector index decreased 1.60%. Profit taking was witnessed in Softlogic Holdings (SHL), Expolanka Holdings (EXPO), Orient Garments (OGL), Brown & Company (BRWN) and Panasian Power (PAP) while renewed interest was witnessed in Hayleys (HAYL). Hotel Sigiriya (HSIG) continued to attract investors as the share price moved up by Rs.10.20 (12.19%) and closed at Rs.81.90.

Colombo Stock Indices close on a mixed note

2011-07-22T07:17:00.003+01:00

Colombo Stock Indices fluctuated during market hours on Wednesday the 20 July 2011 to close All Share Price Index (ASPI) in green and Milanka Price Index (MPI) in red. Crossings witnessed in selected counters in Diversified sector and Hotels & Travels sector dominated the market.

The All Share Price Index (ASPI) closed at 6,682.46 points, rose 0.10% by 6.76 points and the Milanka Price Index (MPI) dipped 0.29% by 18.15 points to close at 6,180.05 points. Turnover was Rs.1.38 billion fell 18.05% with a volume of 46.24 million shares changing hands (tumbled 19.84%). Foreign purchases rose 66.03% to Rs.91.76 million and foreign sales dipped 10.41% to Rs.361.11 million. Price to forward Earnings Ratio (PER) remained stable at 23 times.

However, dull retail investor participation was witnessed yet again. Diversified sector was the main contributor to the market turnover due to John Keells Holdings (JKH) and Aitken Spence (SPEN), while the sector index increased by 0.27%. John Keells Holdings (JKH) was the main contributor to the market turnover with a crossing of 500,000 shares at Rs.202. The share price increased by Rs.0.60 (0.30%) and closed at Rs.202. Foreign stake of the company decreased by 889,800 shares.

Hotels & Travels sector also contributed significantly to the market turnover due to Aitken Spence Hotels (AHUN) and AHOT Properties (AHPL). The sector index increased 0.24%. The share price of Aitken Spence Hotels (AHUN) remained at Rs.74. Renewed interest was witnessed in Hotel Sigiriya (HSIG) while interest continued in Central Finance (CFIN).

Several crossings were done including 1.275 million share of Aitken Spence Hotels (AHUN) at Rs.75 per share via two crossings, 1 million shares of Asian Hotels and Properties (AHOT) at Rs.90.50, 400,000 shares of Aitken Spence (SPEN) at Rs.141 and 20,000 shares of Bukit Darah (BUKI) at Rs.1100 per share.

Negative sentiment continues at Colombo

2011-07-20T10:42:00.005+01:00

Colombo Stock Indices continued to drop amidst lackluster retail investor participation. Price depreciation of big-cap counters such as John Keells Holdings (JKH), Carsons Cumberbatch (CARS) and Bukit Darah (BUKI) weighed on indices. However, institutional or high net-worth investor participation was witnessed to a certain extent.

The All Share Price Index (ASPI) closed at 6,675.70 points, dipped 1.02% by 68.49 points and the Milanka Price Index (MPI) depreciated 0.82% by 51.12 points to close at 6,198.20 points during the day. Total turnover was Rs.1.68 billion rose 34.67%. Foreign purchases rose 269.05% to Rs.270.11 million and foreign sales also topped 432.13% to Rs.403 million. Price to forward Earnings Ratio (PER) decreased 0.865 to 23 times.

Several crossings were done including Commercial Bank (COMB) 750,000 shares at Rs.260 via two crossings, Ceylon Tobacco (CTC) 362,200 shares at Rs.367, John Keells Holdings (JKH) 100,000 shares at Rs.203, Citizens Development Business (CDB) 1.25 million shares at Rs.80 per share.

Bank, Finance and Insurance sector were the main contributor to the market turnover due to Commercial Bank (COMB) and Citizens Development Business Finance (CDB), while the sector index decreased by 0.52%. Commercial Bank (COMB) was the main contributor to the market turnover with two crossings of 750,000 shares at Rs.260.

The share price increased by Rs.0.90 (0.35%) and closed at Rs.257. Foreign stake of the company decreased by 750,000 shares. Diversified sector also contributed significantly to the market turnover due to Softlogic Holdings (SHL) and John Keells Holdings (JKH). The sector index decreased 1.64%. The share price of Softlogic Holdings (SHL) decreased by Rs.0.40 (1.52%) and closed at Rs.26. Profit taking was witnessed in Expolanka Holdings (EXPO) and Swarnmahal Financial Services (SFS) while interest continued in Central Finance (CFIN).

Week starts off with losses at Colombo

2011-07-19T06:22:00.002+01:00

The Colombo Stock market was mostly driven by retail investors on Monday the 18 July. Activity was relatively dull while interest on penny stocks was witnessed again. Price depreciation of John Keells Holdings (JKH) weighed on indices mostly while both indices closed in red.

The All Share Price Index (ASPI) closed at 6,744.19 points, dipped 0.48% by 32.84 points and the more liquid Milanka Price Index (MPI) fell 0.98% by 61.81 points to close at 6,249.32, during the day. Total turnover was Rs.1.3 billion (down 35.98%) and there were no crossings or off-market private deals recorded during market hours. A volume of 62.11 million shares changed hands (fell 26.97%). Foreign purchases fell 69.34% to Rs.73.19 million and foreign sales dip 11.47% to Rs.75.74 million. Price to forward Earnings Ratio (PER) depreciated 0.43% to 23.2 times.

Diversified sector was the main contributor to the market turnover due to Expolanka Holdings (EXPO) and Softlogic Holdings (SHL), while the sector index decreased by 1.33%. Expolanka Holdings (EXPO) was the main contributor to the market turnover while the share price increased by Rs.0.50 (3.38%) and closed at Rs.15.30. Bank, Finance and Insurance sector also contributed significantly to the market turnover due to Swarnamahal Financial Services (SFS) and Central Finance (CFIN). The sector index increased 0.34%. Profit taking was witnessed in Swarnamahal Financial Services (SFS) after making rapid gains recently. Central Finance (CFIN) continued to attract investors while the share price increased by Rs.42.60 (3.03%) and closed at Rs.1,450.

Interest in penny stocks at Colombo

2011-06-12T19:15:00.003+01:00

Colombo Stock Indices continued with the negative momentum to close in red. Turnover was lifted by the Power & Energy sector by Panasian Power PLC (PAP).

Retail investors also showed interest in penny stocks such as Blue Diamond Jewellery Worldwide PLC (BLUE) and SMB Leasing PLC (SEMB) while most blue chip counters failed to gain amidst low investor participation.

The All Share Price Index (ASPI) closed at 7,355.43 points, fell 0.68% by 50.59 points and the Milanka Price Index (ASPI) came down 0.26% by 17.92 points to close at 6,839.48 points during the day.

Turnover was Rs.4.94 billion (up 19.18%) with a volume of 611.5 million (rose 234.20%) shares changing hands. Foreign purchases fell 37.72% to Rs.200.7 million and foreign sales fell 48.39% to Rs.123.85 million. Price to forward Earnings Ratio (PER) 0.52% 24.8 times.

Power & Energy sector was the main contributor to the market turnover due to Pan Asian Power (PAP) & Vallibel Power Erathna (VPEL), while the sector index rose by 4.85%. Panasian Power (PAP) share price gained by Rs.3.70 (80.43%) and closed at Rs.8.30.

Panasian Power was the highest gainer and highest contributor to the day's turnover with 367.6 million shares done, generating 2.5 billion rupees. Initially, 76.64 million shares crossed at Rs.6 per share, at 10:31 am whilst another 4.1 million and 14.9 million shares crossed around 11.40 a.m. at Rs.7.40 and Rs.7.60 respectively. Thereafter another 11.8 million shares and 3.08 million shares crossed at Rs.8 per share and the last crossing was done at Rs.8.10 per share with a block of 4.08 million shares. The share got caught to 10% price band for next five days.

Emagewize, a firm controlled by Dilith Jayawwera, was the buyer of Panasian Power for Rs.6.00 a share.

Banking, Finance and Insurance sector also contributed significantly to the market turnover with the sector index decreasing 1.06%. Investors continued profit taking in Colombo Land (CLND) after the rapid gains during last week. Sunshine Holdings (SUN) announced a final dividend of Rs.0.30 per share.

Several crossings were done including LB Finance PLC (LFIN) 500,000 shares at Rs.190, Citrus Leisure PLC Warrant 19 (REEF.W19) 1,271,120 shares at Rs.20.30 and Citrus Leisure PLC Warrant 17(REEF.W17 ) 635,560 shares at Rs.33.10 per share.

Another week of decline at Colombo

2011-06-12T19:05:00.002+01:00

Both Colombo All Share Price Index (ASPI) and Milanka Price Index (MPI) fell 0.72% and 0.26% during the week, despite the market closing on a green note. The indices were mostly on the up throughout the day helped by blue chips according to brokers. Retail interest continued to feature prominently during the week.

The All Share Price Index (ASPI) closed at 7,406.02 points, rose 0.41% by 30.12 points and the Milanka Price Index (MPI) topped 0.11% by 7.43 points to close at 6,857.40 points.

Turnover was at Rs.4.14 billion (fell 17.63%) with a volume of 182.9 million shares changing hands (up 11.16%). Foreign purchases dropped 5.26% to Rs.322.26 million and foreign sales rose 0.89% to Rs.239.9 million. Price to forward Earnings Ratio (PER) rose 0.4% to Rs.24.9 times.

Land and Property sector was the main contributor to the market turnover due to Colombo Land (CLND), while the sector index rose by 3.54%. Colombo Land (CLND) price peaked at Rs.54.90 and closed at Rs.50 as profit taking continued.

In mid May 2011, a 20 percent stake in Colombo Land (CLND) was sold by a founder Singapore based shareholder to Imagewise, a controlling shareholder of listed Citrus Leisure (REEF), and Kalpitiya Resorts, a subsidiary. Colombo Land said in a stock exchange filing that on Thursday Imagewise sold 14.5 million shares of its shares at 43.50 rupees and Kalpitiya Beach Resort bought 20.35 million shares at an average price of 43.59 rupees. The company's board has resigned with N H Godahewa replacing R R Tudawe as chairman and appointing Imagewise Director Dilith Jayaweera to board.

Banking, Finance and Insurance sector also contributed significantly to the market turnover helped by Nation Lanka (CSF) and Commercial Credit (COCR). The index rose 0.62%. Nation Lanka (CSF) price increased 3.73% and closed at Rs.30.50 while Commercial Credit (COCR) price increased 21.28% and closed at Rs.38.90. 1million shares of Royal Ceramics (RCL) changes hands today at Rs.165.

Prices of most Vaillibel One (IPO of which is scheduled shortly) related counters saw price increases during the day. Another crossing of 103,700 shares of Commercial Bank (COMB) was witnessed at Rs.270.

Turnover soars at Colombo

2011-06-12T18:58:00.002+01:00

Colombo Stock Indices continued to fall but the market turnover crossed Rs.5 billion, driven by the land and property sector. Profit taking was witnessed on the Nation Lanka (CSF) counter while speculative trading still dominates market activities.

The All Share Price Index (ASPI) closed at 7,375.90 points, dipped 0.15% by 11.25 points and the Milanka Price Index (MPI) fell 0.13% by 9.09 points to close at 6,849.97 points, during the day. Total turnover was Rs.5.03 billion rose (84.61%) with a volume of 164.6 million shares changing hands (topped 70.65%). Foreign purchases increase 43.03% Rs.340.17 million and foreign sales also rose 59.43% Rs.242.12 million. Price to forward Earnings Ratio (PER) dropped 6.1% to 24.8 times.

Land and Property sector was the main contributor to the market turnover (due to Colombo Land), while the sector index rose by 10.54%. 1.9 million shares of Colombo Land (CLND) changed hands at Rs.46.40. The share price increased 22.16% to close at Rs.46.

Banking, Finance and Insurance sector also contributed significantly to the market turnover helped by Janashakthi (JINS) and Nation Lanka Finance (CSF). The index declined 0.08%. Both Janashakthi (JINS) and Nation Lanka (CSF) prices declined 0.94% and 2.64% respectively. Hunter and Company (HUNT) proposed a first and final dividend of Rs1.50 per share.

Janashakthi Insurance emerges as the top traded counter at Bourse

2011-06-12T18:40:00.002+01:00

The Colombo Stock Market, despite starting off for the day on a positive note, lost ground during the middle hours of trading, ending up on a mixed note recording a dip of 30.9 points in the All Share Price Index (ASPI). Retail participation was prominent during today’s trading, where Janashakthi Insurance (JINS) emerged as the top traded counter, contributing circa 12.5% of the day’s turnover on the back of retail and high net worth participation. The counter saw a block of shares counting to 2 millionn crossed off at Rs.20.10. Mixed investor interest was evident in Central Finance Company (CFIN), where the counter saw two blocks of 12,000 and 31,500 shares crossed at a price of Rs.1,670.00 and Rs.1600.00 respectively. Meanwhile, Nation Lanka Finance (CSF) along with Colombo Land & Development Company (CLND) grabbed retail and high net worth interest during trading. Simultaneously Laugfs Gas Limited (PGP) was found amongst the retailer’s favourite picks list.

The All Share Price Index (ASPI) dipped 30.9 points to close at 7,387.2 points (-0.4%), whilst the Milanka Price Index (MPI) gained 5.5 points to close at 6,859.1 points (0.1%). The total turnover was Rs.2.72 billion (fell 21.6%) whilst the volume traded for the day was 96.36 million (fell 4%). Foreign purchases fell 0.2% to Rs.237.8 million and foreign sales fell 67.9% to Rs.151.9 million.

Top traded counters were Janashakthi Insurance (JINS) Rs.340.7 million, Nation Lanka Finance (CSF) Rs.313.5 million, Colombo Land & Development Company (CLND) Rs.293.6 million, Central Finance Company (CFIN) Rs.169.4 million and Laugfs Gas Limited (LGL) Rs.117 million.

Commercial Credit (COCR), which began trading with a reference price of Rs.25.40, was the day's top gainer, shooting up to Rs.45 before closing at Rs.33, up Rs.7.60 or almost 30% with just over 3 million shares changing hands.

Speculation rules yet again at Colombo

2011-06-04T09:17:00.003+01:00

The market kicked off on a high note on Tuesday the 31 May 2011, yet again to end in red, as retail speculators continued to dominate the market. Nation Lanka (CSF) continued its streak of being the largest contributor to the turnover, while Singer Sri Lanka (SINS) also continued to be on the incline.

The All Share Price Index (ASPI) closed at 7,418.07 points, dipped 0.67% by 50.34 points and the Milanka Price Index (MPI) fell 0.18% by 12.68 points to close at 6,853.61 points. Turnover was Rs.3.51 billion (rose 12.35%) with a volume of 101.2 million shares changing hands (down 28.64%). Foreign purchases rose 57.92% to Rs.238.34 million and foreign sales also appreciated 49.5% to Rs.472.76 million. However price to forward Earnings Ratio (PER) decreased 0.79% to 26.5 times.

Bank, Finance & Insurance sector was the main contributor to the market turnover due to Nation Lanka (CSF) and LB Finance (LFIN), while the sector index decreased by 0.87%. Trading sector also contributed significantly to the market turnover helped by Singer Sri Lanka (SINS). The index gained 4.64%. Nation Lanka Finance (CSF) gained Rs.2.50 (8.47%) to close at Rs.31.90 while Singer Sri Lanka (SINS) gained Rs.20.10 (15.3%), and closed at Rs.149.

Several Crossings were done including Lion Brewery (LION) 850,000 shares at Rs.230 via three crossings, Ceylon Tobacco Company (CTC) 469,500 shares at Rs. 375 via two crossings and LB Finance (LFIN) 110,000 shares at Rs.196.50 per share.

Retail Speculators Dominate at Colombo

2011-06-04T09:00:00.001+01:00

Although both Colombo Stock indices started on a positive note, Milanka Price Index (MPI) slipped as the day progressed to close lower in a market still dominated by retail speculation. Nation Lanka Finance (CSF) was the top turnover contributor for the second consecutive trading day.

The All Share Price Index (ASPI) closed at 7,468.41 points, topped 0.12% rising by 8.83 points the Milanka Price Index (MPI) was down 0.13% by 9.25 points to close at 6,866.29 points. Turnover was at Rs. 3.12 billion (rose 31.38%), with a volume 141.83 million shares changing hands. Foreign purchases declined 25.08% to Rs.150.92 million and foreign sales topped 115.17% to Rs.316.23 million. Price to forward Earnings Ratio (PER) rose 0.15% to 26.7 times.

Bank, Finance & Insurance sector was the main contributor to the market turnover due to Nation Lanka (CSF) and Janashakthi Insurance (JINS), while the sector index increased by 2.24%. Trading sector also contributed significantly to the market turnover helped by Singer Sri Lanka (SINS).

The Multi Finance Company, which began trading Monday, was the top gainer of the day and closed up Rs.15 or 106.08% at Rs.30.50. The share opened at Rs.35 and hit a high of Rs.65.

Capital Development and Investment Company shot up by Rs.303.10 by almost 75% and ended at Rs.707.30 getting caught up with 10% Price Band.

Nation Lanka Finance (CSF) gained Rs.2.10 (7.66%) to close at Rs.29.20 while Janashakthi Insurance (JINS) closed at Rs.20.20, having gained Rs.1.80 (9.42%).

Several Crossings were done including Singer Sri Lanka (SINS) 530,000 at Rs.122 via three crossings, Diesel and Motor Engineering (DIMO) 100,000 shares at Rs.1,645 and Cargo Boat (CABO) 400,000 shares at Rs.138.

Retailers Drive Turnover at Colombo Bourse

2011-05-27T22:12:00.002+01:00

Colombo Both Indices declined compared to last week, with All Share Price Index (ASPI) and Milanka Price Index (MPI) falling 0.27% and 0.06% respectively. However, the market witnessed a higher average turnover compared to last week. Market closed on a green note on Friday the 27 May 2011, mainly driven by retail and speculative investors.

The All Share Price Index (ASPI) closed at 7,459.58 points, topped 0.54% by 40.14 points and the Milanka Price Index (MPI) rose 0.15% by 10.06 points to close at 6,875.54 points, during the day. Total turnover was at Rs.2.37 billion (fell 34.18%) with a volume of 103.6 million shares changing hands (down 38.02%). Foreign purchases fell 26.68% to Rs.201.44 million and foreign sales dropped 36.94% to Rs.146.9 million. Price to forward Earnings Ratio (PER) rose 0.64% to 26.7 times.

Highest gainer for the day was NDB Bank’s investment arm Capital Development and Investment Company PLC (CDIC) became the highest gainer at Colombo Bourse reaching over 49.98% previous day. The share price surged by Rs.134.70 to close at Rs.404.20 and a total of 26,500 shares changed hands during the market hours.

Swarnamahal Financial Services (SFS), which was listed at Rs.11.40 and hit Rs.100 when it began trading Thursday but closed at Rs.45.

Bank, Finance & Insurance sector was the main contributor to the market turnover due to Nation Lanka (CSF), while the sector index increased by 1.41%. Hotel and Travel sector also contributed significantly to the market turnover helped by Ruhunu Hotels (RHTL). Nation Lanka Finance (CSF) was the main contributor to the market turnover. The share price increased by Rs 3.50 (14.60%) and closed at Rs.28.30.

Settlement pressure halts indices in Colombo

2011-05-27T22:10:00.001+01:00

Colombo Stock Indices dropped amidst selling pressure witnessed in speculative stocks which saw rapid gains recently. Approach of the settlement dates could be the reason according to brokers. The decline in the more liquid Milanka Price Index (MPI) was controlled to a certain extent with the investor interest shown in some blue chip stocks.

The All Share Price Index (ASPI) closed at 7,419.44, down 0.37 percent (27.25 points) while the more liquid Milanka index fell 0.19 percent (12.97 points) to close at 6,865.48 points. Turnover was at Rs.3.61 billion (fell 10.44%) with a volume of 167.24 million shared traded (down 24.15%) during the day. Foreign purchases fell 3.42% to rs.274.73 million and foreign sales also dropped 25.47% to Rs.233.07 million. Price to forward Earnings Ratio (PER) fell 0.38% to 26.5 times.

Swarnamahal Financial Services (SFS), which began trading Thursday, closed at Rs.44 with 682,600 shares traded. The stock was listed at Rs.11.40 opened at Rs.100. Chilaw Finance (CFL), which also began trading Thursday, closed at 30.60 rupees, up 19.60 or 178 percent. The stock was listed at 11 rupees, opened at 30 rupees and hit a high of 60 rupees.

The trades were in contrast to the listing of Senkadagala Finance (SFCL) which has not been traded since getting listed in March 2011.

Several crossings were done including John Keells Holdings (JKH) 420,000 shares at Rs.300 per share, LB Finance (LFIN) 450,000 shares at Rs.193, Hatton National Bank Non Voting (HNB.X) 400,000 shares at Rs.130 per share and Seylan Bank (SEYB) 773,400 shares at Rs.7 4 per share.

Bank, Finance & Insurance sector was the main contributor to the market turnover due to Janashakthi Insurance (JINS)), while the sector index decreased by 0.20%. Land & Property sector also contributed to the market turnover due to Colombo Land (CLND), while the sector index decreased by 2.41%. Colombo Land (CLND) was the main contributor to the market turnover. The company witnessed selling pressure after making rapid gains over the last couple of days. The share price decreased by Rs.3.26 (8.36%) and closed at Rs.34.50. Price appreciation of John Keells Holdings (JKH) helped MPI to outperform ASPI.

Small and mid caps dominate Colombo Bourse

2011-05-27T22:07:00.001+01:00

Colombo’s Both stock indices edged slightly up towards the end of trading. The pending court case seems to have revived interest among the investors of Touchwood (TOUCH) while interest of speculative investors was seen on Colombo Land (CLND).

The All Share Price Index (ASPI) closed at 7,446.69, topped 0.20% by 14.72 points and the Milanka Price Index appreciated 0.30% by 20.84 points to close at 6,878.45 during the day. Turnover was Rs.4 billion (rose 59.93%) with a volume of 220.5 million shares changing hands (up 90.85%). Foreign purchases rose 134.86% to Rs.284.4 million and foreign sales also rose 19.44% to Rs.312.72 million. Price to forward Earnings Ratio (PER) remained steady at 26.6 times.

Several crossings were recorded during the day including 4.05 million shares of Colombo Land (CLND) at Rs.38.30, John Keells Holdings (JKH) 495,900 shares at Rs.298 via two crossings and another 409,900 shares at Rs.301 with 579,400 Royal Ceramics shares at Rs.155 per share.

Land and Property sector was the main contributor to the market turnover due to Colombo Land (CLND), while the sector index increased by 3.11%. Colombo Land (CLND) was the highest contributor to the

market turnover and closed at Rs.38.30. Commercial Bank (COMB) announced a rights issue and a subdivision. Rights is to be issued on the basis of 1 for 7 shares at an issue price of Rs.181.65 per share (Voting) and Rs.130.13 per share (Non-voting). The Voting share closed at Rs.263.10 while the Non-voting share closed at Rs.191.50 today.

Odel (ODEL) and Chemanex PLC (CHMX) announced final dividends of Rs 0.25 per share and Rs1.00 per share respectively while Kotagala Plantations proposed an interim dividend of Rs.5.00 per share.

Indices post a mixed note at Colombo

2011-05-25T18:56:00.001+01:00

The Colombo Stock indices started to gain during early trading and dropped gradually to close on a mixed note. Milanka Price Index closed in green with the price appreciation of John Keells Holdings (JKH) & Hemas Holdings (HHL). All Share Price Index (ASPI) ended in red while Colombo Land (CLND) came under the price brand.

The All Share Price Index (ASPI) closed at 7,431.97 points, dipped 0.10% by 7.18 points and the Milanka Price Index (MPI) topped 0.06% by 4.22 points to close at 6,857.61 points during the day. Total turnover was at Rs.2.52 billion (down 14.89%) with a volume of 115.53 million shares changing hands. Foreign purchases dipped 65.57% to Rs.121.12 million and foreign sales fell 31.85% to Rs.261.8 million. Price to forward Earnings Ratio (PER) dipped 0.11% to 26.57 times.

Several crossings were done including Aitken Spence Hotels (AHUN) 1 million shares at Rs.88.50, Ceylon Guardian (GUAR) 150,000 shares at Rs.150 and Asian Alliance (AAIC) 400,000 shares at Rs.130 per share via two crossings.

The Bank, Finance & Insurance sector was the main contributor to the market turnover due to Central Finance (CFIN) & Nation Lanka Finance (CSF), while the sector index decreased by 0.03%. The Land & Property sector also contributed significantly to the market turnover with the sector index gaining 4.04%. Colombo Land (CLND) continued to be the main contributor to the market turnover. The share price increased by Rs.3.10 (9.75%) and closed at Rs.34.90. Central Finance (CFIN), Colombo Land (CFIN) and Nation Lanka Finance (CSF) continued to record rapid gains while price drops in illiquid stocks weighed on the ASPI mostly.

Watawala Plantations announced a final dividend of Rs.0.85 per share.

Week starts in a weak note at Colombo

2011-05-25T18:50:00.003+01:00

The Colombo Stock indices dropped, continuing the downward momentum from last week end. All sector indices declined except the Land & Property sector. Exceptional price gains of Colombo

Land (CLND) amidst heavy retail investor participation drove the Land & Property sector, following the large transaction recorded last Friday.

The All Share Price Index (ASPI) closed down 0.54% at 7439.15 points dipped 40.48 points and the Milanka Price Index (MPI) fell 0.39% by 26.60 points to close at 6,853.39 points according to stock exchange data.

Turnover was Rs.2.9 billion (down 6.14%) with a Volume of 89.93 million shares changing hands (fell 48.49%). Foreign purchases rose 254.22% to Rs.351.8 million and foreign sales dipped 62.38% to Rs.384.19 million. Price to forward Earnings Ratio (PER) fell 0.37% to 26.6 times.

John Keells Holdings (JKH) 545,534 million shares crossed at Rs.298 per share, Commerical Bank (COMB) 500,000 shares crossed at Rs.260 and Distilleries (DIST) 300,000 shares crossed at Rs.180 per share.

The Land & property sector was the main contributor to the market turnover, while the sector index increased by 6%. Colombo Land (CLND) was the main contributor to the market turnover. The share price increased by Rs.11.70 (58.20%) and closed at Rs.32.30.

The Bank, Finance & Insurance sector also contributed significantly to the market turnover due to Commercial Bank (COMB) and Nation Lanka Finance (CSF) with the sector index dropping 0.37%.

CIC Holdings (CIC) announced a final dividend of Rs.2 per share.

Sri Lanka Stock Indices end higher for the week

2011-05-21T05:36:00.003+01:00

The Colombo Stock indices ended in negative, paring gains earlier during the day, correcting the overreaction to extended deadlines on debt clearance. All Share Price Index (ASPI) and (MPI) gained 2.18% and 1.63% respectively for the week. The positive momentum may continue next week in view of the extension of debtor deadlines.

The Land & property sector was the main contributor to the market turnover due to Colombo Land (CLND), while the sector index dropped 2.21%. Foreign holding in the company dropped by 40,233,533 shares.

The All Share Price Index (ASPI) closed at 7,479.63 points, dipped 0.11% by 7.98 points and the Milanka Price Index (MPI) dropped 0.25% through 17.02 points to close at 6,879.99 points during the day. Turnover was Rs.3.16 billion (up 4.02%) and a volume of 174.6 million shares changed hands (up 16.73%). Foreign purchases fell 74.19% to Rs.99.32 million and foreign sales rose 228.29% to Rs.1.02 billion. Price forward Earnings Ratio (PER) dipped 0.26% to 26.7 times.

Several other crossings were done including Central Finance (CFIN) 15,000 shares at Rs.1,600, Commercial Bank (COMB) 80,000 shares at Rs.260, Renuka Agri Foods (RAL) 3,644,800 shares at Rs. 6.80, HNB Non Voting (HNB.X) 200,000 shares at Rs.125 and Ceylon Guardian (GUAR) 65,000 shares at Rs.363 per share.

The Bank, Finance & Insurance sector also contributed significantly to the market turnover due to Ceylon Guardian (GUAR) and Nation Lanka (CSF) with the sector index climbing 0.02%. John Keells Holdings (JKH) proposed a final dividend of Rs.1.00 per share. The company also proposed to subdivide three (3) existing shares into four (4) new shares. The share dropped Rs. 1.20 (0.40%) to close at Rs. 296.10. CT Land Development (CTLD) also proposed a final dividend of Rs. 0.60 per share.

Relief granted to clear debtors driving prices up at Colombo

2011-05-21T05:26:00.004+01:00

Colombo Stock Market recorded the second highest daily turnover for the month on Thursday 19 May 2011 after two years since Colombo Bourse started booming when Sri Lanka completely won its war against terrorism. Most shares gained as buying interest improved. While improvements in quarterly corporate earnings failed to improve prices since last week, the extended deadlines on debt collections for broking houses seem to have elated the investors.

The All Share Price Index (ASPI) closed at 7,487.61 points, rose 1.75% by 128.92 points and the Milanka Price Index (MPI) topped 1.19% by 80.79 points closing at 6,897.01 points. Total turnover was at Rs.3 billion rose 49.54% with a volume of 149.57 million shares changing hands (up 53.97%). Foreign purchases dropped 37.32% to Rs.384.77 million and foreign sales rose 441.01% to Rs.311.06 million. Price to forward Earnings Ratio rose by 1.755 to 26.8 times.

The market watchdog Securities and Exchange Commission of Sri Lanka said it has extended a deadline to clear broker credit to the end of the year from an earlier June 30 date and thus brokers will have to clear 25% by Sept 30 and remaining credit and the balance in 31 December 2011.

Several crossings were done including 1 million shares of HNB at Rs.230 per share via two crossings, 16.25 million shares of Asiri Hospitals (ASIRI) at Rs.8.50 through two crossings, 500,000 shares of Commercial Bank (COMB) at Rs.260 and 5 million shares of Dialog (DIAL) at Rs.10 with 60,000 shares of Ceylon Guardian (GUAR) at Rs.358 per share.

The Bank, Finance & Insurance sector was the main contributor to the market turnover driven by HNB Bank and Nation Lanka Finance (CSF), while the sector index increased 1.4%. Two crossings of 1,000,000 shares were recorded for HNB at Rs.230. Manufacturing sector also contributed significantly to the market turnover with the sector index climbing 2.99%. John Keells Holdings (JKH) was the top turnover contributor for the day. JKH price appreciated a further 0.98% and closed at Rs.299.

Short week starts with gains at Colombo Bourse

2011-05-17T07:25:00.002+01:00

Colombo Stock Indices improved supported by the price appreciations of HNB bank and John Keells Holdings (JKH) and the continuation of gains of some selected stocks. Positive interim results also seem to have spurred the momentum.

The All Share Price Index (ASPI) closed at 7,358.69 points rose 0.53% by 38.75 points and the Milanka Price Index (MPI) up by 0.69% by 46.86 points to close at 6,816.22 points. Turnover was at Rs.2 billion (up 24.45%) with a volume of 97.14 million shares changing hands (up 22.74%). Foreign purchases 633.99% to Rs.613.87 million and foreign sales dropped 40.16% to Rs.57.49 million shares. Price to forward Earnings Ratio (PER) rose 0.53% to 26.3 times.

Alliance Finance (ALLI) was the top gainer of the day with its share up 552.3 rupees to 1435.30 while Finlays Colombo (JFIN) was the top loser, its share down 70 rupees to 211 .00. Housing Development and Finance (HDFC) Bank 29,900 shares crossed at Rs.1,550 per share.

The Bank, Finance & Insurance sector was the main contributor to the market turnover mainly due to HNB bank and Nation Lanka Finance (CSF), while the sector index increased 1.37%. HNB bank was the main contributor to the market turnover. The share price increased by Rs.10.10 (4.59%) and closed at Rs.230. Foreign holding of the company increased by 2,275,300 shares. The Diversified sector also contributed to the market turnover due to John Keells Holdings (JKH). The sector index decreased 0.61%.

All Share Price Index closes flat for the week

2011-05-14T05:08:00.002+01:00

Colombo All Share Price Index (ASPI) gained only 0.01% while Milanka Price Index (MPI) gained 0.48% for the week. Although there is still much speculation in the market, increased retail interest on certain fundamentally strong stocks, witnessed in the form of strong order books in such counters, indicate the possibility of a gradual market recovery.

The All Share Price Index (ASPI) closed at 7,319.94 points rose 0.26% by 19.12 points and the Milanka Price Index (MPI) dipped 0.11% by 7.33 points to close at 6,769.36 points during the day. Total turnover was Rs.1.63 billion dipped 19.64% with a volume of 79.14 million shares changing hands (down 12.89%). Foreign purchases dropped 46.05% to Rs.83.63 million and foreign sales fell 65.53% to Rs.96 million. Price to forward Earnings Ratio (PER) rose 0.31% to 26.2 times.

The Bank, Finance & Insurance sector was the main contributor to the market turnover mainly due to Nation Lanka (CSF) and Central Finance (CFIN), while the sector index decreased 0.12%. Nation Lanka (CSF) was the main contributor to the market turnover for the second consecutive day. The share price increased by Rs.2.50 (13.1%) and closed at Rs.21.60.

The Hotels and Travels sector also contributed to the market turnover due to Citrus Leisure (REEF) and Marawila Resorts (MARA). The sector index increased 0.14%. Dipped Products proposed a final dividend of Rs 1.50 per share.

Colombo Stock Market turns green

2011-05-14T05:01:00.001+01:00

Both Colombo Stock indices continued to stay green throughout the day while the Milanka Price Index (MPI) gained higher than the All Share Price Index (ASPI), helped by John Keells (JKH). Retail interest was witnessed with the price increase in a number of low value counters.

All Share Price Index (ASPI) closed at 7,300.82 points, rose 0.28% by 20.16 points the Milanka Price Index (MPI) topped 0.81% by 54.20 points to close at 6,776.69 points during market hours. Total turnover was Rs.2 billion (increased 18.01%) with a volume of 90.85 million shares changing hands (up 80.7%). Foreign purchases dipped to Rs.155 million (down 50.3%) and foreign sales rose 32.25% to Rs.278.7 million. Price to forward Earnings Ratio (PER) increased 0.27% to 26.1 times.

Commercial Bank (COMB) 500,000 shares crossed at Rs.260 and The Lion Brewery Ceylon PLC (LION) 100,000 shares crossed at Rs.235 per share.

The Bank, Finance & Insurance sector was the main contributor to the market turnover mainly due to Nation Lanka (CSF), Central Finance (CFIN) and Commercial Bank (COMB), while the sector index increased 0.64%. Nation Lanka (CSF) was the main contributor to the market turnover. The share price increased by Rs.1.60 (9.14%) and closed at Rs.19.30.

Following the announcement of a proposed subdivision which will be issued on the basis of 2 shares for 1 share held, Tea Smallholder Factories (TSML) share price increased by 14.86%. In addition, John Keells Ltd. (JKL) proposed a subdivision of two (2) for every one (1) share held. C W Mackie (CWM) proposed an interim dividend of Rs.1 per share.

Indices continue downhill at Colombo Bourse

2011-05-12T09:33:00.000+01:00

Both Colombo Stock indices continued to drop for the third consecutive day. The Milanka Price Index (MPI) managed to turn green as the day progressed, but did not sustain the increase. Turnover levels and volumes continued to remain unimpressive.

Colombo’s All Share Price Index (ASPI) closed at 7,280.66 points, fell 0.80% by 58.99 points and the Milanka Price Index (MPI) dipped 0.27% 18.33 points to close at 6,722.49 points. Total Turnover was Rs.1.72 billion (up 9.27%) with a total volume of 50.2 million shares changing hands (dipped 40.63%). Foreign purchases rose 436.41% to Rs.311.88 million and foreign sales rose 54.84% to Rs.210.7 million shares. Price to forward Earnings Ratio (PER) decreased 0.69% to 26 times. HNB 1 million shares crossed at Rs.220 per share and Distilleries (DIST) 449,000 shares crossed at Rs.182.50 per share.

The Bank, Finance & Insurance sector was the main contributor to the market turnover mainly due to HNB, Central Finance (CFIN) and Nation Lanka Finance (CSF), while the sector index dropped 0.42%.

HNB was the main contributor to the market turnover. The share price dropped by Rs.3.00 (1.35%) and closed at Rs.219. Foreign holding in HNB increased by 942,800 shares. HNB one million shares crossed Capital Development (CDIC) and Investment proposed a final dividend of Rs.4.10 per share. The share gained Rs 18.40 (10.11%). Ceylon Hospitals (CHL) also proposed an interim dividend of Rs.1.50

per share. HNB revised its proposed rights issue to one (1) for five (5) shares from (1) for (6) shares announced earlier. In addition, Asian Hotels and Properties (AHPL) and Trans Asia (TRAN) proposed a subdivision of two (2) for every one (1) share held.

Indices reverse amidst illiquid shares dip at Colombo Bourse

2011-05-10T20:15:00.002+01:00

Colombo Stock Indices closed in red after gaining during early trading, as prices depreciated in illiquid stocks. However, a reaction for positive earnings results was witnessed to a certain extent.

Sri Lanka’s All Share Price Index (ASPI) closed at 7,339.65 points, dipped 0.52% by 38,21 points and the Milanka Price Index (MPI) dropped 0.29% by 19.59 points closing at 6,740.82 points during the day. Total turnover was Rs.1.57 billion dipped 2.59% with a volume of 84.6 million shares changing hands (up 1.12%). Foreign purchases dropped 57.87% to Rs.58.14 million and foreign sales increased by 59.84% to Rs.136.13 million. Price to forward Earnings Ratio (PER) dipped 0.38% to 26.2 times.

The Bank, Finance & Insurance sector was the main contributor to the market turnover mainly due to Nation Lanka Finance (CSF) and Lanka Ventures (LVEN) with the sector index decreasing 0.37%. Nation Lanka Finance (CSF) was the main contributor to the market turnover.

The share price increased by Rs.0.70 (4.46%) and closed at Rs.16.40. The Manufacturing sector also contributed to the market turnover mainly due to Pelawatte Sugar (SUGA) with sector index decreasing 0.26%.

The share price of Ceylon Cold Stores (CCS) increased by Rs.50.10 (6.30%) amidst an announcement of a proposed sub-division and a rights issue. The rights are to be issued on the basis of one (1) for every ten (10) shares at Rs.300 per share, followed by a subdivision of four (4) for every one (1) share.

Union Assurance (UAL) also announced a sub-division of one (1) for every two (2) shares. The share price increased by Rs.25.10 (11.09%). Lion Brewery (LION) announced an interim dividend of Rs.4 per share.

Positive results help gain at Colombo Bourse

2011-05-10T05:48:00.002+01:00

Colombo Stock Indices remained in green amidst investors reacting well to positive interim results. The bullish momentum witnessed towards the end of the last week may continue this week as well. Renewed interest was witnessed in some blue chip stocks also. However, low turnover levels remain a concern.

The All Share Price Index closed at 7,377.86 points, rose 0.8% by 58.71 points and Milanka Price Index (MPI) topped 0.35% by 23.53 points to close at 6,760.41 points, during the day. Total turnover was Rs.1.61 billion (dipped 6.05%) with a volume of 83.74 million shares changing hands up 6.39%.

Foreign Purchases dropped 6.05% Rs.138 million, foreign sales dipped 33.95% to Rs.85.17 million. Price to forward Earnings Ratio (PER) decreased 0.77% to 26 times. 1.07 million shares of Hemas Holdings crossed at Rs.47 per share.

The Bank, Finance & Insurance sector was the main contributor to the market turnover mainly due to Nation Lanka Finance (CSF) with the sector index decreasing 0.31%. Nation Lanka Finance (CSF) has gained 63% since March end. Brown and Co. (BRWN) was the main contributor to the market turnover.

The share price increased by Rs 3.10 (1.25%) and closed at Rs.363.50. Brown & Co. (BRWN) has gained 44% since mid-March.

The Manufacturing sector also contributed to the market turnover sector index increasing 0.74% mainly due to Bogala Graphite (BOGA). The share price increased by Rs.22.80 (up 38.30%). Merchant Bank of Sri Lanka (MBSL) announced a final dividend of Rs.1.25 per share.

Week ends on a dull note at Colombo Bourse

2011-05-09T07:25:00.003+01:00

Colombo All Share Price Index (ASPI) and Milanka Price Index (MPI) declined 0.51% and 1.26% respectively during the week ended. Positive momentum seen over the last 2 days of the week till Thursday lost steam on Friday the 6 May 2011.

The All Share Price Index (ASPI) closed at 7,319.15 points, rose 0.03% by 1.98 points and the Milanka Price Index (MPI) fell 0.16% by 10.47 points to close at 6,736.88 points. Total turnover was Rs.1.72 billion (increased 5.96%) and a total volume of 78.7 million (rose 68.71%) shares changed hands. Foreign purchases rose Rs.146.8 million (topped 78.44%) and foreign sales Rs.128.94 million (rose 74.79%). Price to forward Earnings Ratio (PER) remained at 26.1 times.

Several crossings were done including Sampath Bank (SAMP) 402,484 shares at Rs.277, Ceylon Guardian Investment (GUAR) 100,000 at Rs.380 and John Keels Holdings (JKH) 100,000 shares at Rs.280.

Positive earnings results may boost indices next week according to brokers. The Bank, Finance & Insurance sector was the main contributor to the market turnover mainly due to Sampath Bank (SAMP) and Central Finance (CFIN) with the sector index increasing 0.06%. Brown and Co. (BRWN) was the main contributor to the market turnover. The share price increased by Rs.9.30 (2.67%) and closed at Rs.357.10.

The Manufacturing sector also contributed to the market turnover sector index increasing 0.35%. Hatton National Bank (HNB) announced a rights issue of 1 for every 6 shares held. The Voting and Non Voting rights will be priced at Rs.219.50 and Rs.119.50 respectively.