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Jul 25, 2011

Dull week pushes indices further down at Colombo


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.

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Jul 22, 2011

Negative sentiment prevails at Colombo


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.
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Colombo Stock Indices close on a mixed note


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.

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Jul 20, 2011

Negative sentiment continues at Colombo



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).

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Jul 19, 2011

Week starts off with losses at Colombo


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.

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Jun 12, 2011

Interest in penny stocks at Colombo



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.

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Another week of decline at Colombo




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.

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