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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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