Sri Lanka Equity Analytics

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Jun 30, 2010

Sri Lanka Stock Market Update - 30th June 2010

Sri Lankan shares closed flat Wednesday as investors took profits from high value stocks, especially banks and re-invested in midcap shares, while a state fund bought into Colombo Dockyard boosting turnover by 50 percent, brokers said. The All Share Price Index closed at 4,612.46, down 0.1 percent (0.52 points) while the more liquid Milanka index fell 0.41 percent (21.73 points) to close at 5,278.35. Turnover was 4.1 billion rupees, according to stock exchange provisional figures.

In a privately negotiated off-the-floor deal the Employees' Provident Fund bought more than 6.8 million shares of Colombo Dockyard at 280.00 rupees per share.

Colombo Dockyard shares were bought by a state fund at a premium of 8.00 rupees per share, brokers said. It closed at 278.00 rupees, up 6.75.

A stock exchange filing said the seller was Horizon Representation of Companies based in the United Arab Emirates whose nominee director ceased to be a director of Dockyard.

Investors took profits from selected high value shares, brokers said.

Commercial Bank closed at 178.50 rupees, down 2.50 with over two million shares traded, Hatton National Bank closed at 281.00 rupees, down 6.75, Sampath Bank closed at 359.25 rupees, down 3.50 and Seylan Bank closed at 81.75 rupees, down 1.25.

DFCC Bank closed at 267.75 rupees, down 75 cents, and National Development Bank closed flat at 245.00 rupees.

Index heavy Distilleries Company of Sri Lanka, an alcohol manufacturer, closed at 129.25 rupees, down 75 cents.
Hayleys closed flat at 305.00 rupees, Hemas Holdings closed at 184.25 rupees, up 8.25 and John Keells Holdings, another index heavy stock, closed flat at 205.00 rupees.

Some investors were seen chasing selected small and midcap stocks, brokers said.

CT Land Development closed at 28.25 rupees, up 1.75 with 1.8 million shares changing hands, CW Mackie closed at 57.00 rupees, up 6.50 with almost 600,000 shares traded, brokers said.

Equity Two, the land and property development unit of Carson Cumberbatch, closed at 31.25 rupees, up 3.50 with 1.7 million shares traded, while Laxapana Batteries closed at 9.75 rupees, up 2.00 with 11.3 million shares changing hands, brokers said.

Over four million Blue Diamonds Jewellery Worldwide shares changed hands Wednesday. It closed at 2.70 rupees, up 30 cents.

Courtesy - LBO
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Jun 24, 2010

Sri Lanka Stock Market Update - 24th June 2010

Sri Lankan stocks closed up Thursday as gains in selected high value shares like Distilleries, Central Finance, Ceylon Tobacco and Sampath Bank pulled the market up, brokers said. The All Share Price Index closed at 4,601.55, up 10.38 points, while the Milanka index of more liquid stocks rose 0.54 percent (28.42 points) to close at 5,290.17. Turnover was 2.26 billion rupees, according to stock exchange provisional figures.

Uncertainty over the GSP Plus trade deal giving Sri Lankan duty free access to European Union markets weakened investor sentiment, brokers said.

The government said it has rejected EU conditions to renew the GSP Plus deal which expires in August and it might use the exchange rate to help exporters remain competitive despite the loss of duty free market access.

Thakshila Hulangamuwa, vice president – business development at stock brokering firm Asha Phillip Securities, said investor sentiment would have been stronger if not for the uncertainty over "external factors."

Brokers said price gains on selected high value shares pushed the market up.

Ceylon Tobacco Company, a unit of multinational British American Tobacco closed at 310.00 rupees, up 8.75, Distilleries Company closed at 127.00 rupees, up 2.00 with over 2.5 million shares traded, and Central Finance Company closed at 475.25 rupees, up 64.50.

Sampath Bank closed at 358.25 rupees, up 31.50 rupees with 923,000 shares traded, Commercial Bank closed at 184.50 rupees, down 1.75, Hatton National Bank closed at 292.25 rupees, up 2.75 and Seylan Bank closed at 87.00 rupees, down 2.50.
Aitken Spence closed at 1,620.50 rupees, up 50 cents, Hayleys closed at 305.00 rupees, down 3.00, Hemas Power closed at 19.50 rupees and index heavy John Keells Holdings closed at 204.50 rupees, up 1.25.

Brokers said investors continued to take profits from some mid and small cap stocks.

Asian Hotels and Properties closed at 155.00 rupees, down 4.00, Printcare closed at 73.00 rupees, down 2.00, while Aviva NDB Insurance closed at 220.00 rupees, down 8.00 and Ceylon Cold Stores closed at 245.00 rupees, down 10.00 on low business volumes.

Sri Lanka Telecom, a fixed line operator closed flat at 36.50 rupees, and Dialog Telekom, a unit of Axiata Malaysia closed flat at 9.75.

Courtesy - LBO
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Jun 23, 2010

Sri Lanka Stock Market Update - 23rd June 2010

Sri Lankan stocks fell below 4,600 points Wednesday, as retail investors with weak holding capacity sold to minimize losses, while losses in selected index heavy shares also dragged down the market, brokers said.The All Share Price Index closed at 4,591.17, down 43.56 points, while the Milanka index of more liquid stocks fell 0.79 percent (42.07 points) to close at 5,261.75. Turnover was 3.1 billion rupees, according to stock exchange provisional figures.

At the end of trading there were 48 gainers and 138 losers, brokers said.

"We witnessed a profit taking and we could expect the market to bounce back with investors capitalizing on the weakness," Rakshitha Perera, research manager at Bartleet Mallory Stockbrokers said.

"Investors should look at stocks that are currently trading at low multiples."

Midcap stocks were the most hit.

Abans Electricals closed at 210.00 rupees, down 2.00, Asian Alliance Insurance closed at 61.25 rupees, down 3.50, Asian Hotels and Properties closed at 159.00 rupees, down 2.25, Cargills (Ceylon) closed at 125.00 rupees, down 3.00 and Hotel Developers closed at 148.00 rupees, down 4.25.

Lanka Tiles closed at 105.25 rupees, down 4.25, Renuka City Hotel closed at 247.00 rupees, down 16.00, Singer Sri Lanka closed at 117.50 rupees, down 3.50, Touchwood Investment closed at 87.25 rupees, down 3.75 and United Motors closed at 125.00 rupees, down 5.00.
Aitken Spence closed at 1,620.00 rupees, down 23.25, Hayleys closed at 308.00 rupees, up 2.50, Hemas Holdings closed flat at 175.00 rupees and index heavy conglomerate John Keells Holdings closed at 203.25 rupees, down 2.00.

Distilleries Company of Sri Lanka closed flat at 125.00 rupees.

Commercial Bank closed at 186.25 rupees, down 6.00, Hatton National Bank closed at 289.50 rupees, down 50 cents, Nations Trust Bank closed at 51.75 rupees, up 2.50, Seylan Bank closed at 89.50 rupees, up 5.25.

Courtesy - LBO
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Sri Lanka Stock Market Update - 22nd June 2010

Sri Lankan stocks closed down Tuesday as retail investors took profits while penny stocks continued to be heavily traded, brokers said.The All Share Price Index closed at 4,634.73, down 23.95 points, while the Milanka index of more liquid stocks fell 0.67 percent (35.95 points) to close at 5,303.81.Turnover was 2.6 billion rupees, according to stock exchange provisional figures.

Penny stocks continued to be heavily traded, brokers said.

Seylan Merchant Bank closed at 1.60 rupees, up 10 cents with 6.6 million shares traded, while Blue Diamond Jewellery Worldwide closed at 2.50 rupees, up 10 cents with over one million shares changing hands, brokers said.

Hayleys closed at 305.50 rupees, down 4.25 rupees on low volume trading, Hemas Holdings closed at 176.00 rupees, down 25 cents and John Keells Holdings, an index heavy stock, closed at 205.75 rupees, up 75 cents.

Commercial Bank closed at 194.50 rupees, up 25 cents, Hatton National Bank closed at 292.00m rupees, up 1.25, Nations Trust Bank closed at 49.50 rupees, down 25 cents, Sampath Bank closed at 331.00 rupees, down 3.75 and Seylan Bank closed 81.00 rupees, up 2.25 with almost 460,000 shares traded.

National Development Bank closed at 250 rupees, up 1.75 and DFCC Bank closed at 266.00 rupees, down 2.50.

Sri Lanka Telecom, a fixed line operator, closed at 38.50 rupees, up 50 cents, and Dialog Telekom closed flat at 10.00 rupees, with 6.67 million shares traded.

Courtesy - LBO
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Jun 21, 2010

Sri Lanka Stock Market Update - 21st June 2010

Sri Lankan stocks closed up Monday on the back of price gains on midcap and selected high value shares, while there was a foreign inflow of funds, brokers said. The All Share Price Index closed at 4,658.68, up 51.34 points, while the Milanka index of more liquid stocks rose 1.30 percent (68.29 points) to close at 5,339.76. Turnover was 3.55 billion rupees, according to stock exchange provisional figures, boosted by large deals on Dialog Telekom and Ceylon Hotels Corporation.

At the end of trading there were 96 gainers and 77 losers, while foreign investors bought 775.9 million rupees of share and sold 531.4 million resulting in a net foreign inflow of 244.5 million rupees, brokers said.

There had been net foreign outflows in recent days.

"The market could expect a correction in the coming weeks," Rakshitha Perera, research manager at Bartleet Mallory Stockbrokers said.

"Investors should search for stocks that are currently trailing at lower (price-to-earnings) multiples relative to their peers."

In a privately negotiated off-the-floor deal 20 million (11.6 percent) Ceylon Hotel Corporation shares changed hands at 35 rupees per share, brokers said. It closed at 35.50 rupees, up 1.50.

Nearly 17 million Dialog Telekom shares changed hands between 9.25 to 10.25 rupees, brokers said. Dialog Telekom, a unit of Axiata of Malaysia closed at 10.00 rupees, up 75 cents. Sri Lanka Telecom, a fixed line operator closed at 38.00 rupees, up 25 cents.
Brokers said some of the stocks that were promoted to the MPI list gained in price.

ACL Cables closed at 94.25 rupees, up 4.50 with over a million shares traded, Overseas Reality closed at 18.00 rupees, up 1.00 with 9.3 million shares traded and Nawaloka Hospitals closed at 7.75 rupees, up 50 cents with 8.24 million shares traded.

Hayleys closed at 309.75 rupees, down 1.00, Hemas Holdings closed at 176.75 rupees, up 3.75 and in a private deal 3.3 million John Keells Holdings changed hands at 206 rupees per share. It closed flat at 205.00 rupees.

Commercial Bank closed at 194.25 rupees, up 5.50, Hatton National Bank closed at 290.75 rupees, down 3.25, Nations Trust Bank closed flat at 49.75 rupees, Sampath Bank closed at 334.75 rupees, down 1.25 and Seylan Bank closed at 44.00 rupees, down 25 cents with 1.86 million shares traded, brokers said.

Courtesy - LBO
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Jun 17, 2010

Sri Lanka Stock Market Update - 17th June 2010

Sri Lankan stocks closed flat Thursday with Dialog Telekom shares heavily traded, brokers said.
The All Share Price Index closed at 4,607.34, up 3.98 points, while the Milanka index of more liquid stocks fell 0.01 percent (0.76 points) to close at 5,271.47.Turnover was 2.34 billion rupees, according to stock exchange provisional figures.

"Heavy high-net-worth and retail participation held the indices flat, while retail investors with short term horizons moved into low-value speculative stocks," Thakshila Hulangamuwa, vice president at stock brokering firm Asha Phillip Securities said.

"Investors are concentrating on shifting and recouping their investments."

Brokers said Dialog Telekom shares continued to be heavily traded after returning to profitability in the March 2010 quarter. It closed at 9.25 rupees, up 25 cents with 35 million shares traded.

Aitken Spence closed flat at 1,600.00 rupees, Hayleys closed at 310.75 rupees, down 1.00, Hemas Holdings closed at 17.00 rupees, down 2.00 and John Keells Holdings, an index heavy stock closed flat at 205.00 rupees.

Commercial Bank closed flat at 283.00 rupees, Hatton National Bank closed at 294.00 rupees, down 1.00, Nations Trust Bank closed at 49.75, down 75 cents, Sampath Bank closed at 336.00 rupees, up 25 cents and Seylan Bank closed at 76.00 rupees, up 2.00.

Courtesy - LBO
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Jun 16, 2010

Sri Lanka Stock Market Update - 16th June 2010

Sri Lankan stocks closed flat Wednesday as high net worth investors cashed out on banking stocks and re-invested on midcap stocks, while foreign investors continued to sell, brokers said. The All Share Price Index closed at 4,603.36, down 3.33 points, while the Milanka index of more liquid stocks rose 0.02 percent (1.2 points) to close at 5,272.23. Turnover was 2.06 billion rupees, according to stock exchange provisional figures.

Foreign investors bought 278 million rupees worth of shares and sold 564 million, with a net foreign outflow of 286 million rupees, brokers said

Brokers said Dialog Telekom shares were heavily traded. It closed flat at 9.00 rupees, with 34.5 million shares traded.

Sri Lanka Telecom, a fixed line operator closed at 37.25 rupees, down 1.00.

Banking sector stocks took a breather after a nearly two-weeks rally, brokers said.

Hatton National Bank closed at 295.00 rupees, down 4.75, Nations Trust Bank closed flat at 50.50, Sampath Bank closed at 335.75, down 4.25 and Seylan Bank closed at 74.00 rupees, up 1.00.

DFCC Bank closed at 273.00 rupees, down 1.75, and National Development Bank closed at 205.50 rupees, down 2.25. Aitken Spence closed flat at 1,600.00 rupees, Hayleys closed at 311.75 rupees, down 2.25, Hemas Holdings closed at 175.00 rupees, up 25 cents and John Keells Holdings, an index heavy stock closed at 205.00 rupees, up 2.00.

Courtesy - LBO
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Jun 15, 2010

Sri Lanka Stock Market Update - 15th June 2010

Sri Lankan stocks closed 0.1 percent lower Tuesday as retailers took profits from mid and low cap stocks, despite banks making gains, brokers said. The All Share Price Index closed at 4,606.69, down 6.07 points, while the Milanka index of more liquid stocks rose 0.27 percent (13.95 points) to close at 5,271.03. Turnover was 1.67 billion rupees, according to stock exchange provisional figures.

At the end trading there were 74 gainers and 93 losers, while foreign investors bought 188.6 million rupees of share and sold 132.2 million resulting in a net foreign inflow of 54.4 million rupees, brokers said.

"The market is currently showing signs of a correction," Rakshitha Perera, research manager at Bartleet Mallory Stockbrokers said.

"Over the last two weeks the market has moved almost 6.0 percent so a market correction in our view is quite possible."

Commercial Bank closed at 283.00 rupees, up 5.25 with 100,000 shares changing hands in a privately negotiated off-the-floor deal at 280.00 rupees per share.

In another private deal 250,000 Nations Trust Bank shares changed hands at 50.50 rupees per share. It closed at 50.50 rupees, up 1.25, brokers said.
Hatton National Bank closed at 299.75 rupees, up 3.75; Sampath Bank closed at 340.00 rupees, down 4.75 and Seylan Bank 73.00 rupees, up 2.25.

DFCC Bank closed at 274.75 rupees, up 1.00, and National Development Bank closed at 252.75 rupees, up 25 cents.

Retail investors took profits from small and midcap stocks, while diversified stocks also took a breather, brokers said.

Arpico Finance Company closed at 70.00 rupees, down 3.75, Bairaha Farms closed at 71.00 rupees, down 1.25, Cargo Boat Development Company closed at 99.00 rupees, down 3.25, Ceylon Theatres closed at 100.25 rupees, down 2.50 and First Capital Holdings closed at 20.25 rupees, down 25 cents.

Conglomerates, Aitken Spence closed flat at 1,600.00 rupees, Hayleys closed at 314.00 rupees, down 1.00, Hemas Holdings closed at 174.75 rupees, down 3.75 and John Keells Holdings closed at 203.00 rupees, down 1.00.

Dialog Telekom, a celco closed flat at 9.00 rupees, and Sri Lanka Telecom, a fixed line operator closed at 38.25 rupees, up 25 cents.

Courtesy - LBO
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Jun 14, 2010

Sri Lanka Stock Market Update - 14th June 2010

Sri Lankan shares closed at a new high passing 4,600 points on the benchmark index Monday, pushed up by selected index-heavy blue chips, while retail investors took profits on mid and small-cap stocks, brokers said.

The All Share Price Index closed at 4,612.76, up 51.43 points, while the Milanka index of more liquid stocks rose 1.45 percent (74. 29 points) to close at 5,257.08. Turnover was 1.7 billion rupees, according to stock exchange provisional figures.

Brokers said gains in selected high value stocks pushed the market up.

Retail investors will continue to take profits and re-invest in shares that offer better short-term returns, brokers said.

John Keells Holdings, an index heavy stock, closed at 204.00 rupees, up 3.75, Aitken Spence closed at 1,600.00 rupees, up 25 cents, Hayleys closed at 314.00 rupees, up 4.75 and Hemas Holdings closed at 179.00 rupees, up 5.00.

Colombo Dockyard closed at 270.00 rupees, up 10.00, Chevron Lubricants closed at 165.00 rupees, up 1.00, Ceylon Tobacco Company closed at 310.00 rupees, up 10.00, Carson Cumberbatch closed at 587.50 rupees, up 9.00 and Aviva NDB Insurance closed at 215.25 rupees, up 5.25.

The Bukit Darah, a palm oil company, closed at 4,689.75 rupees, up 45.75 on thin volumes traded.

Celco Dialog Telekom closed at 9.00 rupees, up 25 cents, and Sri Lanka Telecom, a fixed line operator, closed at 38.00 rupees, up 25 cents.
Commercial Bank closed at 279.00 rupees, down 1.00, Hatton National Bank closed at 203.00 rupees, down 1.00, Nations Trust Bank closed at 49.00 rupees, up 1.25, Sampath Bank closed at 347.50 rupees, up 1.75 and Seylan Bank closed at 71.25 rupees, up 2.50.

National Development Bank closed at 251.25 rupees, up 4.25, and DFCC Bank closed at 273.50 rupees, up 8.25.

Arpico Finance closed at 73.00 rupees, down 2.00, Amaya Leisure closed at 89.00 rupees, down 1.00, Ceylinco Insurance closed at 272.00 rupees, down 3.00, Ceylon Hospitals closed at 110.00 rupees, down 4.00 and Diesel and Motor Engineering (DIMO) closed at 620.00 rupees, down 5.00.

Courtesy - LBO
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Jun 12, 2010

Sri Lanka Stock Market Update - 11th June 2010

Sri Lankan stocks rose to new highs Friday, passing the 4,500 points mark as institutional investors bought blue chips while retailers took profit from over-priced shares and re-invested in cheaper ones, brokers said.

The All Share Price Index (ASPI) closed at 4,561.33, up 65.09 points, while the Milanka index of more liquid stocks rose 0.87 percent (44.79 points) to close at 5,182.16. Turnover was 3.3 billion rupees, according to stock exchange provisional figures.

"Retailer and institutional activity pushed the indices to an all-time high," said Nikita Tissera, research manager at SC Securities. "We also did see an encouraging net foreign inflow."

Foreign buying was 908 million rupees and selling 769 million rupees.

The market historical PER (price-to-earnings ratio) rose to 22.5 times with Friday's rise in the indices. Index heavy Distilleries Company of Sri Lanka shares were heavily traded. It closed at 127.75 rupees, up 5.00 with almost 2.8 million shares traded.

Courtesy - LBO


John Keells Holdings, another index heavy conglomerate closed at 199.75 rupees, up 1.50 with over 1.27 million shares changing hands. Aitken Spence closed at 1,560.25, down 9.75, Hayleys closed at 308.00 rupees, up 3.50 and Hemas Holdings closed at 174.75 rupees, up 14.25.

Dankotuwa Porcelain closed at 13.50 rupees, down 3.50 with three million shares traded, while 13.6 million shares of First Capital Holdings changed hands, Friday. It closed at 20.75 rupees, up 75 cents. Nawaloka Hospitals closed flat at 6.25 with 4.16 million shares traded.

Nation Lanka Finance, which in a stock exchange filing reported a serious loss of capital closed at 13.50 rupees, down 50 cents. Piramal Glass Ceylon closed at 2.50 rupees, down 10 cents with over 10 million shares traded, brokers said.

Banking sector shares, apart from Hatton National Bank, continued to gain, brokers said. Commercial Bank closed at 280.50 rupees, up 1.25, HNB closed at 290.50 rupees, down 5.00, Nations Trust Bank closed at 47.25 rupees, up 25 cents, Sampath Bank closed at 348.00 rupees, down 50 cents and Seylan Bank closed at 69.50 rupees, up 3.25 with over a million shares traded, brokers said.

DFCC Bank closed at 262.00 rupees, up 3.00, and National Development Bank closed at flat at 247.00 rupees.

Dialog Telekom, a celco closed at 9.00 rupees, up 25 cents with over 3.1 million shares traded, and fixed line operator Sri Lanka Telecom closed at 38.00 rupees, up 25 cents.
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Jun 10, 2010

Sri Lanka Stock Market Update - 10th June 2010

Sri Lankan stocks closed up Thursday from institutional and high net worth interest on selected high value and midcap shares, while retail investors continued to chase after midcap and 'penny stocks', brokers said.

The All Share Price Index (ASPI) closed at 4,496.24, up 31.83 points, while the Milanka index of more liquid stocks rose 0.48 percent (24.64 points) to close at 5,137.37.
Turnover was 2.8 billion rupees, according to stock exchange provisional figures.

Brokers said index heavy stocks like Commercial Bank and John Keells Holdings (JKH) were heavily traded.

The ASPI is on the verge of passing the 2,500 point mark, brokers said.

JKH, Sri Lanka's largest conglomerate, closed at 198.25 rupees, up 2.25 with 2.5 million shares changing hands, while Aitken Spence closed at 1,570.00 rupees, up 14.00, Hayleys closed at 304.50 rupees, up 1.50 and Hemas Holdings closed at 160.00 rupees, up 7.00.

Commercial Bank, Sri Lanka's largest listed bank closed at 279.25 rupees, up 1.25 with over 3.35 million shares traded, while Hatton National Bank closed at 295.00 rupees, up 1.50, Sampath Bank closed at 348.50 rupees, down 1.50 and Seylan Bank closed at 42.25 rupees, up 75 cents.

There was considerable retail interest on 'penny stocks', brokers said.

Brokers said 26.16 million Seylan Merchan Bank shares changed hands. It closed at 1.30 rupees, down 20 cents. On Wednesday Seylan Merchant Bank closed at 1.50 rupees, up 20 cents with over 67 million shares traded.
Sierra Cables closed at 2.50 rupees, down 10 cents with nearly 1.4 million shares traded, brokers said.

Foreign investors bought 1,078 million rupees worth of shares Wednesday, and sold 1,507 million, with a net outflow of 429 million rupees, brokers said.

Courtesy - LBO
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Sri Lanka Stock Market Update - 9th June 2010

Sri Lankan stocks recovered Wednesday with gains in banks pushing the market up and retail investors seen chasing midcap and 'penny stocks' with heavy speculative trading on Ceylon Leather Products, brokers said.

The All Share Price Index closed at 4,464.41, up 37.14 points, while the Milanka index of more liquid stocks rose 0.53 percent (26.87 points) to close at 5,112.73. Turnover was 1.7 billion rupees, according to stock exchange provisional figures.

"The market was mostly retail driven with high concentration on midcap stocks and penny stocks," Thakshila Hulangamuwa, vice president, business development at Asha Phillip Securities said.

"Retailers are shifting into midcap shares looking at short term trading opportunities."

Penny stocks are shares that are traded at low values. Seylan Merchant Bank closed at 1.50 rupees, up 20 cents with over 67 million shares changing hands, brokers said.

Janashakthi Insurance closed at 15.50 rupees up 50 cents with 6.6 million shares traded, while Muller Phipps (Ceylon) closed flat at 90 cents with 1.25 million shares changing hands.

"There was speculative buying on Ceylon Leather," Hulangamuwa said.
Ceylon Leather Products, a unit of Environmental Resources Investments (ERI), closed at 239.25 rupees, up 35.25 with almost 70,000 shares traded. ERI voting shares closed at 78.00 rupees, down 25 cents.

Aitken Spence closed at 1,556.00 rupees, up 25 cents, Hayleys closed at 303.00 rupees, down 1.75, Hemas Holdings closed at 153.50 rupees, up 1.75 and John Keells Holdings closed at 196.00 rupees, down 1.75.

Bank stocks continued to gain, brokers said. Commercial Bank closed at 278.00 rupees, up 6.00, Hatton National Bank closed at 293.50 rupees, up 6.50, Sampath Bank closed at 350.00 rupees, down 1.00 and Seylan Bank closed at 64.75 rupees, up 25 cents.

Foreign investors bought 123 million rupees worth of shares Wednesday, and sold 207 million, with a net outflow of 84 million rupees.

Courtesy - LBO
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Jun 9, 2010

Sri Lanka Stock Market Update - 8th June 2010

Sri Lankan stocks closed almost flat Tuesday as investors took profits from selected shares seen as over-priced and re-invested in those with potential for short-term gains, while foreign investors were net sellers, brokers said.

The All Share Price Index closed at 4,427.27, down 4.05 points, while the Milanka index of more liquid stocks fell 0.35 percent (18.05 points) to close at 5,085.86.

Turnover was 2.66 billion rupees, according to stock exchange provisional figures.

"The market took a slight breather today after the strong post-tax relief run," Nikita Tissera, research manager at stock brokering firm SC Securities said.

"The banking sector still accounted for the bulk of transactions along with John Keells Holdings (JKH)."

Foreign investors are continuing to sell out of their investment portfolios on the Colombo Stock Exchange, brokers said.

Foreign investors bought 165 million rupees worth of shares Tuesday, and sold 452 million, with a net outflow of 287 million rupees.

On Monday there was a net foreign outflow of 370 million rupees, while on Friday the net outflow was 559 million rupees.

Investors took profits from high value stocks like banks and conglomerates, brokers said.
Commercial Bank closed at 272.00 rupees, down 25 cents, Hatton National Bank closed at 287.00 rupees, up 5.00, Nations Trust Bank closed at 46.00 rupees, down 1.50, Sampath Bank closed at 351.00 rupees, down 50 cents and Seylan Bank closed at 64.50 rupees, up 1.50.

National Development Bank closed at 245.00 rupees, down 4.50, and DFCC Bank closed at 250.25 rupees, down 4.75.

Aitken Spence closed at 1,555.75 rupees, up 75 cents, Hayleys closed at 304.75 rupees, up 2.75, Hemas Holdings closed at 151.75 rupees, up 1.75 and index heavy JKH 197.75 rupees, down 25 cents.

Another index heavy stock Distilleries Company of Sri Lanka, an alcohol producer closed at 123.00 rupees, down 2.25.

LB Finance closed at 114.25 rupees, down 1.75, Nation Lanka Finance closed at 14.25 rupees, down 25 cents, People's Merchant Bank closed at 24.75 rupees, down 75 cents and Sinhaputhra Finance 90.00 rupees, down 16.00.

Touchwood Investments closed at 74.00 rupees, down 5.25, while NAMAL Acuity Value Fund closed at 69.00 rupees, down 25 cents.

Nestle Lanka, a unit of Swiss based food company Nestle closed at 662.00 rupees, down 8.25, while Ceylon Tobacco Company, the Sri Lankan unit of British American Tobacco (BAT) closed at 297.00 rupees, down 7.00.

Brokers said over 14 million Dialog Telekom shares changed hands, Tuesday. It closed at 8.75 rupees, down 25 cents, while fixed line operator Sri Lankan Telecom closed flat at 37.00.

Courtesy -LBO
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Jun 8, 2010

Sri Lanka Stock Market Update - 7th June 2010

Sri Lankan stocks closed higher Monday with strong buying by retail investors pushing up blue chips and 'mid-cap' stocks and sending the Milanka index across the 5,000 point mark, brokers said.
The All Share Price Index closed at 4,431.32, up 1.77 percent (77.12 points) while the more liquid Milanka index rose 2.73 percent (135.57 points) to close at 5,103.91.
Turnover was 2.6 billion rupees, according to stock exchange provisional figures.

"We saw a big improvement in retail buying compared with last week," said Rakshitha Perera, research manager at Bartleet Mallory Stockbrokers.

"There was activity across the board."

There were gains in blue chips and mid cap or middle ranking stocks as well as banks and manufacturing stocks like Royal Ceramics, Lanka Tiles and Lanka Walltile and some trading shares.

John Keells Holdings closed at 198 rupees, up six with two crossings or privately-negotiated off-the-floor deals of 100,000 shares each going for 196 rupees a share.

Lanka Tiles closed at 98.75, up 2.25, while Lanka Walltiles ended at 86 rupees, up 5.50 Royal Ceramics Lanka closed at 145.25 rupees, up 13.25

Lanka Aluminium Industries, an illiquid stock seen as 'undervalued' was the day's highest gainer, closing at 42.50 rupees, up 6.25 (17 percent).

Pan Asia Banking Corporation, the day's second highest gainer and second most traded stock, closed at 32.75, up 4.75 (17 percent). There was a crossing of a million shares at 31 rupees each.
Merchant Bank of Sri Lanka, the most traded stock and third highest gainer, closed at 26.75, up 2.75 (11 percent)

Dialog Telekom closed at nine rupees, up 75 cents, with five crossings of 22.7 million shares at 8.50 rupees each

Courtesy - LBO
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Jun 4, 2010

Sri Lanka Stock Market Update - 4th June 2010

Sri Lankan stocks closed at a new high Friday, boosted by gains on index heavy shares, with Nations Trust Bank (NTB) and Pan Asia Banking Corporation (PABC) shares were heavily traded, brokers said.

The All Share Price Index (ASPI) closed at 4,354.20, up 21.91 points, while the Milanka index of more liquid stocks rose 1.01 percent (49.70 points) to close at 4,968.34.
Turnover was 2.87 billion rupees, according to stock exchange provisional figures.

Brokers said there was high interest on banking sector stocks.

NTB closed at 44.75 rupees, up 2.50, with over 1.9 million shares changing hands, and PABC closed at 28.00 rupees, up 1.25 with almost 2.5 million shares traded, brokers said.

Commercial Bank closed at 266.75 rupees, down 25 cents, Hatton National Bank closed at 271.75 rupees, down 25 cents, Sampath Bank closed at 339.50 rupees, up 29.25 and Seylan Bank closed at 58.50 rupees, up 50 cents.

Brokers said high interest on blue chip stocks may ease next week as retail investors are likely to cash-in and look for bargains in mid and low cap stocks.

Aitken Spence closed at 1,555.00 rupees, up 3.25, Hayleys closed at 300.00 rupees, down 75 cents, Hemas Holdings closed at 149.00 rupees, down 1.00 and index heavy John Keells Holdings closed at 192.00 rupees, up 4.00.
At end of trade foreigner bought 188 million rupees worth of shares and sold 747 million, resulting a net foreign outflow of 559 million rupees, brokers said.

Courtesy - LBO
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Sri Lanka Stock Market Update - 3rd June 2010

Sri Lankan stocks closed at a new high Thursday, boosted by gains in financial sector shares while the Furkhan family sold remaining stakes in Confifi Hotels to Lanka Orix Leasing Company (LOLC), brokers said.

The All Share Price Index (ASPI) closed at 4,332.29, up 31.90 points, while the Milanka index of more liquid stocks rose 1.42 percent (68.70 points) to close at 4,918.64. Turnover was 3.67 billion rupees, according to stock exchange provisional figures. The ASPI went past Wednesday's record high of 4,300.39 points, while the Milanka is expected to pass the 5,000 point mark next week, brokers said.

A stock exchange filing said the Furkhan family, which owned the Confifi hotel group, sold-out 8.43 percent of Confifi Management Services at 210.00 rupees a share and Riverina Hotels at 110.00 rupees a share.

The family relinquished management rights to LOLC in the privately negotiated off-the-floor deal.

Confifi Hotels closed at 210.00 rupees, down 14.75, LOLC closed at 281.00 rupees, down 25 cents and Brown and Company closed at 115.00 rupees, up 25 cents, brokers said.

Investors are keenly looking at financial sector stocks again to make short term gains, brokers said.

Commercial Bank closed at 267.00 rupees, up 12.50, Hatton National Bank closed at 272.00 rupees, up 12.00, Nations Trust Bank closed at 42.25 rupees, up 25 cents, and Seylan Bank closed at 38.25 rupees, up 75 cents. DFCC Bank closed at 247.75 rupees, up 9.50, and National Development Bank closed at 228.50 rupees, up 8.75. Brokers said 2.15 million shares of Ceylon Grain Elevators changed hands. It closed at 24.75 rupees, up 1.25. Chevron Lubricants closed at 159.50 rupees, down 5.25, Nestle closed at 680.00 rupees, down 20.00, Ceylon Tobacco Company, a unit of British-American Tobacco, closed at 310.00 rupees, up 4.75. Conglomerates Hayleys closed at 300.75 rupees, down 4.00, Hemas Holdings closed at 150.00 rupees, down 1.75 and John Keells holdings closed at 188.00 rupees, down 25 cents.
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Jun 2, 2010

Sri Lanka Stock Market Update - 2nd June 2010

Sri Lankan stocks closed higher Wednesday, with a big stake in Commercial Bank being sold to a foreign buyer and speculation high effective tax on banks could be cut following an import duty reduction, brokers said.

The All Share Price Index closed at 4,300.39, up almost one percent (41.59 points) while the more liquid Milanka index rose 1.50 percent (71.56 points) to close at 4,849.94.
Turnover was 9.6 billion rupees, according to stock exchange provisional figures.

The sale of a 9.8 percent stake of Commercial Bank of Ceylon by DFCC Bank to a foreign buyer for 5.8 billion rupees accounted for just over half the day's turnover.

The divestment reduced DFCC's shareholding in Commercial Bank to 18.67 percent with regulations limiting bank shareownership to a maximum of 15 percent.

"Today it was banking stocks which moved the market," said Vajirapani Bandaranayake of Bartleet Mallory Stockbrokers.

The Commercial Bank sale was done in three crossings or off-the-floor deals of a total of 23.58 million at 250 rupees a share.

Commercial Bank closed at 254.50 rupees, up 5.25 or two percent. DFCC Bank closed at 238.25 rupees, up 29.75 or 14 percent.

Charith Kamaladasa of Lanka Securities said the foreign buying into Commercial Bank was "positive news" for the market which had lost ground on profit-taking after hitting record highs.
Foreign investors had also been selling heavily in recent weeks.

"This is a good sign - that foreigners are looking at the market," he said. "Also the motor sector shot up because of the tax reduction."

The government said Tuesday it would slash import duties on motor vehicles and some consumer products like watches and cameras.

"Most banking stocks increased across the board today," said Nikita Tissera of SC Securities.

"We still believe that banking as a sector still trades at a discount despite the recent rise in prices given the high loan growth expectations."

Brokers said speculation that the government would reduce the high effective taxation of around 60 percent on banks also helped other banking share prices move up.

And there was continued interest in shares of motor and consumer goods firms which would benefit from lower import duties.

Kamaladasa also said the hotel sector might pick up again with large numbers of Indian tourists expected for an Indian film awards event being held in Colombo.

"Investors are expecting concessions from the (forthcoming) budget as well which could lift most stocks up," he said.

"And quarterly earnings are out. Those companies which have done well and have sound earnings will see steady growth."

Diesel & Motor Engineering rose again Wednesday on the back of the previous day's gains. The stock closed at 605.75 rupees, up 55 rupees or 10 percent.

Sathosa Motors, which had shot up 11 percent (15.50) on Tuesday, lost some of the previous day's gains, closing at 145 rupees, down 7.50 rupees (five percent).

Singer Industries (Ceylon) closed at 117.75, up 18 rupees (18 percent) and Singer Sri Lanka closed at 115, up 19.75 rupees (21 percent).

Sinhaputhra Finance, which began trading Wednesday, closed at 100 rupees, having opened at 105 and hitting a high of 140 rupees

There were also 11 "crossings" of John Keells Holdings totaling 7.8 million shares done between 185 and 187 rupees and a deal of 9.4 million shares of Kotmale Holdings at 28 rupees a share along with four crossing of three million NTB shares at 38-40 rupees.

Courtesy - LBO
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Sri Lanka Stock Market Update - 1st June 2010

Sri Lankan stocks recovered Tuesday, as investors bought motor and consumer products firms on news of import tax cuts on vehicles and electronic goods, despite some retail profit-taking on selected stocks, brokers said.

The All Share Price Index closed at 4,258.80, up 21.64 points, while the Milanka index of more liquid stocks rose 0.44 percent (20.98 points) to close at 4,778.38.
Turnover was 1.18 billion rupees, according to stock exchange provisional figures.

Retail investors booked profits from mid and small cap stocks but got bullish in late afternoon trade after news the Treasury had slashed import taxes on motor vehicles and electronic goods, brokers said.

"The shares of listed motor vehicle importers rose ahead of the reduction on vehicle import duty," said Nikita Tissera of SC Securities.

"We did see some profit-taking despite the rise in indices due to the rise in share prices of vehicle importers."

United Motors Lanka was the day's highest gainer, closing at 135.75 rupees, up 30.25 or almost 29 percent.

Diesel & Motor Engineering, the third highest gainer, closed at 550.75, up 105 rupees or 24 percent, Sathosa Motors closed at 152.50, up 15.50 or 11 percent and Colonial Motors closed at 116.50, up nine rupees or eight percent.

Shares of Autodrome closed at 570, up 35.25 or seven percent.
Singer Sri Lanka closed at 95.25, up 5.25 or six percent and Abans Electricals closed at 194.50, up 9.50 or five percent.

ACL Plastics closed at 112.00 rupees, down 3.00, Amana Takaful closed at 29.25 rupees, down 1.00, Arpico Finance Company closed at 70.00 rupees down 1.50, Asiri Central Hospitals closed at 125.00 rupees, down 2.25 and Ceylon Hospitals closed at 72.50 rupees, down 3.25.

Chemanex closed at 133.00 rupees, down 2.50, Chemical Industries (Colombo) closed at 70.25 rupees, down 1.00, Colombo Pharmacies closed at 450.00 rupees, down 4.00, Confifi Hotel Holdings closed at 220.50 rupees, down 25.50 and NAMAL Acuity Fund closed at 67.00 rupees, down 4.25.

Aitken Spence closed flat at 1,552.00 rupees, Hayleys closed at 303.75 rupees, down 1.25, Hemas Holdings closed at 151.50 rupees, up 50 cents and John Keells Holdings closed at 186.00 rupees, up 2.25.

Courtesy - LBO
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