Sri Lanka Equity Analytics

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Jul 26, 2010

Sri Lanka Stock Market Update - 26th July 2010

Sri Lankan stocks closed higher and passed the 4,900 point mark Monday, as investors continued their buying spree, while there was systematic profit taking on selected high value and midcap companies, brokers said.
The All Share Price Index closed at 4,943.53, up 48.02 points, while the more liquid Milanka index rose 0.92 percent (50.77 points) to close at 5,595.90.

Turnover was 2.1 billion rupees, according to stock exchange provisional figures.

"Investor sentiment continued to spiral up on the premise of the June quarter earnings starting to show good signs," Nikita Tissera, manager research at stock brokering firm SC Securities said.

"Dialog, John Keells Holdings (JKH) and Richard Peiris Company (RPC) saw attention from institutional and retail investors."

Brokers said investors were seen chasing after mid and small cap stocks that offered good value.

Amana Takaful closed at 3.30 rupees, down 1.00 with a million shares traded, Hotel Reefcomber closed at 4.20 rupees, up 10 cents with 2.13 million shares changing hands and Lanka Cement closed at 30.50 rupees, up 2.50 with almost 1.7 million shares traded.

RPC closed at 99.75 rupees, up 7.75 with 3.17 million shares traded, brokers said.
Aitken Spence closed at 1,800.00 rupees, up 100.00, Hayleys closed at 305.00 rupees, up 25 cents, Hemas Holdings closed at 38.00 rupees, up 1.00 with 2.1 million shares traded and John Keells Holdings, an index heavy stock closed at 234.50 rupees, up 4.50.

Commercial Bank closed at 180.75 rupees, up 50 cents, Hatton National Bank closed flat at 290.00 rupees, Nations Trust Bank closed at 59.75 rupees, up 2.25, Sampath Bank closed at 365.00 rupees, up 5.00 and Seylan Bank closed flat at 78.00 rupees.

Dialog Axiata closed at 10.50 rupees, up 25 cents with 13.5 million shares traded, while Sri Lankan Telecom closed at 36.25 rupees, down 25 cents.
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Jul 23, 2010

Sri Lanka Stock Market Update - 23rd July 2010

Sri Lankan stocks recovered Friday on price gains on selected blue chip and midcap stocks on low volume trading, while Hotel Reefcomber shares continued to fall after the Amaya Leisure sell-out, brokers said. The All Share Price Index closed at 4,895.51, up 0.96 percents while the more liquid Milanka index fell 0.82 percent (44.86 points) to close at 5,545.13.

Turnover was 2.0 billion rupees, according to stock exchange provisional figures.

Brokers said there was high interest on index heavy Environmental Resources Investments (ERI) and John Keells Holdings (JKH).

ERI closed at 107.50 rupees, up 4.00 with 2.24 million shares traded, while JKH closed at 230.00 rupees, up 1.75 with almost a million shares changing hands.

Hotel Reefcomber which was sold off by Amaya Leisure on Thursday closed at 4.10 rupees, down 10 cents with over 4.7 million shares traded.

Trading volumes on some of the index heavy top gainers were relatively low, brokers said.

Aitken Spence closed at 1,700.00 rupees, up 50.00 with 6,400 shares traded.

Amana Takaful, the insurance unit of the Amana Islamic finance group, was actively traded, closing at 3.40, up 10 cents.

The group has announced it is getting into commercial banking with a new unit Amana Bank which had raised 3.2 billion rupees in capital through a private placement. Aviva NDB Insurance closed at 222.50 rupees, up 2.50 with 2,000 shares changing hands, Cargills (Ceylon) was up 232.25 rupees, up 5.00 with 75,100 shares traded and Carsons Cumberbatch closed at 568.75 rupees, up 8.50 with 18,700 shares traded.

Ceylon Guardian Investment Trust closed at 716.75 rupees, up 16.75 with 1,200 shares changing hands and Ceylon Tea Services closed at 598.00 rupees, up 19.75 with 800 shares traded.

Chemanex closed at 140.75 rupees, up 7.25 on 14,700 shares traded, and Ceylon Tobacco Company closed at 318.75 rupees, up 8.75 rupees on 400 shares traded, Colombo Fort Investments closed at 135.75 rupees, up 4.75 rupees on 1,300 shares traded.

Haycarb closed at 173.25 rupees, up 4.75 with 7,500 shares traded, and Sampath Bank closed at 360.00 rupees, up 12.25 with 318,300 shares traded.

Courtesy - LBO
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Jul 22, 2010

Sri Lanka Stock Market Update - 22nd July 2010

Sri Lankan stocks closed lower Thursday as investors took profits from an overheating market, while nearly 44 percent of Hotel Reefcomber divested by Amaya Leisure was mostly picked up by retail investors, brokers said. The All Share Price Index closed at 4,849.17, down 8.40 points while the more liquid Milanka index fell 0.05 percent (3.01 points), to close at 5,500.27. Turnover was 2.38 billion rupees, according to stock exchange provisional figures.

Amaya Leisure, headed by businessman Dhammika Perera sold out 44 percent of Hotel Reefcomber which was mostly picked up by retail investors. The share traded between 4.20 to 5.25 rupees to close at 4.20 rupees, down 80 cents with 146 million shares changing hands, brokers said.

Price appreciations on index heavy John Keells Holdings (JKH) and Environmental Resources Investments (ERI) and its subsequent warrants issues helped prevent the market from coming down even further, brokers said.

ERI closed at 103.50 rupees, up 4.50 with 1.14 million shares traded, while its W0001 warrants closed at 76.00 rupees, up 3.50, W0002 closed at 43.00 rupees, up 1.75, W0003 closed at 41.25 rupees, up 2.75 and W0006 closed at 41.25 rupees, up 2.00.

Aitken Spence closed at 1,650.00 rupees, down 25 cents, Hayleys closed at 303.00 rupees, up 6.75, Hemas Holdings closed at 37.00 rupees, up 1.00 and JKH closed at 228.25 rupees, up 1.25.

Courtesy- LBO
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Jul 21, 2010

Sri Lanka Stock Market Update - 21st July 2010

Sri Lankan stocks edged higher into record territory Wednesday with investor sentiment buoyed by improved company earnings and private deals in Hatton Nationa Bank boosting trading tornover, brokers said. The All Share Price Index closed at 4,857.57, up 1.06 percent (51.14 points) while the more liquid Milanka index rose 0.77 percent (42.05 points), crossing the 5,000 point mark for the first time to close at 5,503.28. Turnover was 3.98 billion rupees, according to stock exchange provisional figures.

"The market continued its upswing backed by enhanced investor sentiment," said Sandamalee Jayawickrama, an analyst at Bartleet Mallory Stockbrokers.

"Now that the June quarter earnings reporting season has started we expect investor sentiment to be strong backed by quarterly results expected to be released into the market."

Nine crossings or privately negotiated off-the-floor deals in HNB of 4.45 million shares at 300 rupees a share contributed 1.36 billion rupees or 34 percent of trading turnover.

Hatton National Bank closed at 295 rupees, up 75 cents.

A deal of two million shares of Chevron Lubricants Lanka at 165 rupees a share accounted for nine percent of turnover. The share closed at 162.50 rupees, up 75 cents Hotel Reefcomber was the second most actively traded share, closing at five rupees, up 40 cents with almost 22 million shares traded.

Jayawickrama said share prices in the hotel sector remain strong because of anticipation of better earnings ahead of the peak tourism season which coincides with the northern hemisphere winter.

Courtesy - LBO
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Jul 20, 2010

Sri Lanka Stock Market Update - 20th July 2010

Sri Lankan stocks closed up passing the 4,800 point mark Tuesday with price gains across the board, while large deals on Dankotuwa Porcelain and John Keells Holdings (JKH) boosted turnover, brokers said. The All Share Price Index closed at 4,815.12, up 85.86 points, while the more liquid Milanka index rose 1.79 percent (96.49 points) to close at 5,476.55.

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

At the end of trade there were 141 gainers and 54 losers, brokers said.

In a privately negotiated off-the-floor deal two million shares of conglomerate JKH, an index heavy stock changed hands at between 223.50 to 224.50 rupees. It closed at 223.50 rupees, up 3.00, brokers said.

Aitken Spence closed at 1,620.00 rupees, up 20.00, Hayleys closed at 305.00 rupees, up 3.25 and Hemas Holdings closed at 35.75 rupees, up 25 cents.

Dankotuwa Porcelain closed at 58.75 rupees, up 2.75 with nearly five million shares changing hands, brokers said.

Commercial Bank closed at 180.00 rupees, up 2.00, Hatton National Bank closed at 290.00 rupees, up 5.00, Nations Trust Bank closed at 57.50 rupees, up 50 cents, Sampath Bank closed at 340.75 rupees, up 1.75 and Seylan Bank closed at 80.00 rupees, up 1.75.

Dialog Axiata closed at 10.00 rupees, up 10.00 with 8.1 million shares traded, and Sri Lanka Telecom closed at 35.50 rupees, down 75 cents.

Courtesy - LBO
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Jul 19, 2010

Sri Lanka Stock Market Update - 19th July 2010

Sri Lankan stocks closed up Monday, lifted by speculative buying mainly by retailers with brokers urging investors to be more careful and focus on fundamentals as company earnings were improving. The All Share Price Index closed at 4,729.26, up 1.12 percent (52.37 points) while the more liquid Milanka index rose 1.20 percent (63.84 points) to close at 5,380.06. Turnover was 2.36 billion rupees, according to stock exchange provisional figures.

Brokers said 50,000 shares of National Development Bank changed hands in a private negotiated off-the-floor deal at 240 rupees a share. NDB closed at 240 rupees, down a rupee.

The day's trading, which ended with a net foreign outflow of funds, was dominated by retailers although there was some institutional activity.

"Trading turnover was healthy compared with last week but it was more 'penny stocks' and low value shares that moved today," said Rakshitha Perera, research manager at Bartleet Mallory Stockbrokers.

"We've seen some good quarterly results starting last Friday," said Perera. "So investors should be a bit more cautious when buying speculative stocks and look for stocks with fundamental value."

Even though the market had hit a new high, there were still stocks trading at attractive price-to-earnings multiples, he added.

Some sectors remained attractive like plantations, manufacturing, banks and finance, he said.

Ceylon & Foreign Trades was the day's highest gainer, closing at 50.25, up 54 percent.

Blue Diamonds non-voting shares shot up 50 percent or 80 cents to close at 2.40 rupees while its ordinary voting shares closed 34 percent or 1.20 rupees up at 4.70 rupees

Courtesy - LBO
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Jul 16, 2010

Sri Lanka Stock Market Update - 16th July 2010

Sri Lankan stocks closed up Friday, boosted by price gains on selected index heavy stocks like John Keells Holdings (JKH) and Environmental Resources Investments (ERI), while Dankotuwa shares continued to be heavily traded, brokers said. The All Share Price Index closed at 4,693.82, up 55.11 points, while the Milanka index of more liquid shares rose 2.05 percent (107.49 points) to close at 5,339.80. Turnover was 2.67 billion rupees, according to stock exchange provisional figures.

At the end of trade there were 77 gainers and 88 losers, brokers said.

"Sectors such as banking, trading and investment trusts moved up, while retail investors were seen chasing low value speculative shares," Sahani De Silva, research analyst at Bartleet Mallory Stockbrokers said.

Index heavy ERI normal shares closed at 90.50 rupees, up 18.75, while its 0001warrants closed at 69.75 rupees, up 13.25, warrants 0002 closed at 39.00 rupees, up 9.00, warrants 0003 closed at 36.25 rupees, up 6.50 and warrants 0006 closed at 37.00 rupees, up 7.50.

In a privately negotiated off-the-floor deal 342,642 JKH shares changed hands at 210.00 rupees. It closed at 217.00 rupees, up 6.00.

Hayleys closed at 301.00 rupees, up 25 cents, and Hemas Holdings closed at 36.25 rupees, up 50 cents.

Shares of loss-making Dankotuwa Porcelain, which has found an investor to help with a turnaround, continued to be heavily traded, brokers said. It closed at 52.25 rupees, up 1.25 with 6.4 million shares traded, brokers said.
Brokers said investors expecting strong June quarter results were re-entering the market.

Commercial Bank closed at 179.25 rupees, up 25 cents, Hatton National Bank closed at 282.00 rupees, up 75 cents, Nations Trust Bank closed at 56.25 rupees, down 25 cents, Sampath Bank closed at 340.00 rupees, up 25 cents and Seylan Bank closed at 79.75 rupees, up 1.50.

In a private deal 235,000 National Development Bank shares changed hands at 240.00 rupees. It closed at 241.00 rupees, up 75 cents. DFCC Bank closed at 259.75 rupees, up 5.75.

Foreign investors bought 584.6 million shares and sold 636.5 million, resulting in a net foreign outflow of 51.9 million rupees, brokers said.

Courtesy - LBO
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Jul 14, 2010

Sri Lanka Stock Market Update - 14th July 2010

Sri Lanka stocks closed up Wednesday as investors re-entered the market looking for bargains, while 'penny' stocks continued to be actively traded despite wide price fluctuations, brokers said. The All Share Price Index closed at 4,600.22, up 44.39 points, while the Milanka index of more liquid shares rose 0.84 percent (43.17 points) to close at 5,181.20.

Turnover was 1.7 billion rupees, according to stock exchange provisional figures.

At the end of trade there were 114 gainers and 33 losers, brokers said.

"Today's turnover was mainly driven by hotel and banking sector and all around gains were to be seen," Sahani De Silva, research analyst at Bartleet Mallory stockbrokers said.

"We expect fundamentally sound stocks that are expected to show good results in the June quarter to move up in price."

Commercial Bank closed at 178.00 rupees, down 75 cents, Hatton National Bank 278.75 rupees, up 4.25, Nations Trust Bank closed at 55.00 rupees, up 1.00, Sampath Bank closed flat at 340.00 rupees and Seylan Bank closed flat at 79.00 rupees.

Penny stocks despite high price volatility arising from speculative trading continued to be heavily traded by retail investors, brokers said.

Seylan Merchant Bank closed at 1.70 rupees, down 10 cents with over 11 million shares traded, while Piramal Glass of Ceylon closed at 3.00 rupees, up 10 cents with four million shares changing hands, brokers said.
There was some institutional and high net worth interest in some hotels stocks, brokers said.

John Keells Hotels closed at 19.00 rupees, up 50 cents, Royal Palms Beach Hotels 68.75 rupees, up 3.00 on razor thin trading volumes, Aitken Spence Hotel Holdings closed at 421.00 rupees, up 10.50 and Asia Hotels and Properties closed at 154.25 rupees, up 3.75.

Conglomerates, Aitken Spence closed at 1,600.00 rupees, up 37.00, Hayleys closed at 300.50 rupees, up 50 cents, Hemas Holdings closed at 36.50 rupees, up 25 cents and John Keells Holdings, an index heavy stock closed at 206.00 rupees, up 1.00.

Courtesy - LBO
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Jul 13, 2010

Sri Lanka Stock Market Update - 13th July 2010

Sri Lankan shares closed up Tuesday as investor interest on midcap stocks pushed the market up, while high volume trading on John Keells Holdings (JKH) boosted turnover, brokers said. The All Share Price Index closed at 4,555.83, up 21.88 points, while the Milanka index of more liquid shares rose 0.63 percent (32.18 points) to close at 5,138.03. Turnover was 1.9 billion rupees, according to stock exchange provisional figures.

There was high investor interest on midcap stocks, brokers said.

Midcap stocks, ACL Plastics closed at 116.75 rupees, up 2.75, Ceylinco Insurance closed at 275.00 rupees, up 5.00, Ceylon Cold Stores closed at 280.00, up 4.00, Chemical Industries closed at 76.25 rupees, up 5.00 and Diesel and Motor Engineering closed at 720.00 rupees, up 8.50.

LB Finance closed at 154.25 rupees, up 14.25, Royal Ceramics closed at 159.25 rupees, up 6.25 and Union Assurance closed at 107.27 rupees, up 2.75.

The Finance Company closed at 24.25 rupees, up 3.25 with 1.34 million shares changing hands, and Hemas Power closed at 24.50 rupees, up 1.25 with 5.1 million shares traded.

Nawaloka Hospital closed at 8.25 rupees, up 50 cents with over 6.2 million shares traded, brokers said.

JKH, an index heavy conglomerate closed flat at 205.00 rupees with 3.52 million shares traded, while Hayleys closed flat at 300.00 rupees and Hemas Holdings closed at 36.25 rupees, up 50 cents.
Commercial Bank closed at 178.75 rupees, up 75 cents, Hatton National Bank closed at 274.50 rupees, down 50 cents, Nations Trust Bank closed at 54.00 rupees, up 1.50, Sampath Bank closed at 340.00 rupees, up 1.50 and Seylan Bank closed flat at 79.00 rupees.

National Deelopment Bank closed at 240.00 rupees, up 9.00, and DFCC Bank closed at 246.75 rupees, down 25 cents, brokers said.

Courtesy - LBO
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Jul 12, 2010

Sri Lanka Stock Market Update - 12th July 2010

Sri Lankan stocks closed up Monday as midcap and index heavy stocks made gains, while keen investor interest on Lanka Hospitals pushed its share price by over 50 percent, brokers said. The All Share Price Index closed at 4,533.95, up 0.63 percent (28.26 points), while the Milanka index of more liquid shares rose 0.22 percent (11.06 points) to close at 5,105.85. Turnover was 1.13 billion rupees, according to stock exchange provisional figures.

At the end of trade there were 73 gainers and 78 losers, brokers said.

"There were retail and institutional interest midcap stocks," Rakshitha Perera, research manager at Acuity Stockbrokers said.

"The market has right dropped more than 2.7 percent from June 21, 2010. Hence in our view a recovery is inevitable."

The Lanka Hospital Corporation, formerly known as Apollo Hospitals closed at 39.00 rupees, up 13.50 (53 percent) with over 5.3 million shares traded, brokers said.

As of March 31, 2010, Sri Lankan Insurance Corporation had over 54 percent of Lanka Hospital, while Distilleries Company of Sri Lanka, controlled by business tycoon Harry Jayawardena owned 28.59 percent. It closed flat at 126.00 rupees.

Conglomerates, Aitken Spence closed at 1,563.00 rupees, up 62.75 on thin trading volumes, Hayleys closed flat at 300.00 rupees and Hemas Holdings closed at 35.75 rupees, down 25 cents.
John Keells Holdings, an index heavy stock closed at 205.00 rupees, up 2.00 with nearly 720,000 shares changing hands in a privately negotiated off-the-floor deal, brokers said.

Commercial Bank closed at 178.00 rupees, down 1.00, Hatton National Bank closed at 275.00 rupees, up 4.25, Nations Trust Bank closed at 52.50 rupees, up 1.00, Sampath Bank closed at 338.50 rupees, up 4.00 and Seylan Bank closed at 79.00 rupees, up 75 cents.

DFCC Bank closed at 247.00 rupees, down 3.00.

Ceylon Tobacco Company, a unit of British American Tobacco closed at 310.00 rupees, up 5.00.

"With the second quarter earnings expected to be stable investors would look at stocks that have outperformed peers," Perera said.

Courtesy - LBO
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Jul 9, 2010

Sri Lanka Stock Market Update - 9th July 2010

Sri Lankan stocks closed down Friday as investors took profits from Thursday's gains, while low value shares continued to dominate market volumes, brokers said. The All Share Price Index closed at 4,505.69, down 15.71 points, while the Milanka index of more liquid shares dipped 0.38 percent (19.22 points) to close at 5,094.79. Turnover was 933 million rupees, according to stock exchange provisional figures.

"The market seems to be moving sideways as some penny stocks that attracted limelight lost their shine," Nikita Tissera, research manager at stock brokering firm SC Securities said.

"Close to 16 billion rupees of investor funds being set aside for the ODEL initial public offering also could be a reason for this."

Retail activity was high in small cap stocks, brokers said.

Amana Takaful, an Islamic insurance form closed at 3.40 rupees, up 10 cents with 6.25 million shares traded, at an average of 3.39 rupees per share, brokers said.

Blue Diamond Jewellery Worldwide which was heavily traded and had a wide price fluctuation in the last two weeks closed at 3.90 rupees, down 70 cents, while its non-voting shares closed at 2.00 rupees, down 30 cents.

Conglomerates, Aitken Spence closed flat at 1,500.25 rupees, up 25 cents, Hayleys closed at 300.00 rupees, down 1.50, Hemas Holdings closed flat at 36.00 and John Keells Holdings, an index heavy stock closed at 204.00 rupees, up 75 cents.

Courtesy - LBO
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Jul 8, 2010

Sri Lanka Stock Market Update - 8th July 2010

Sri Lankan stocks closed higher Thursday, recovering after five consecutive trading days of losses with a private deal in shares of a commercial bank dominating the day's turnover, brokers said. The All Share Price Index closed at 4,521.40, up 1.13 percent (50.62 points) while the more liquid Milanka index rose 1.60 percent (80.60 points) to close at 5,114.01. Turnover was 3.27 billion rupees, according to stock exchange provisional figures.

"Shares bounced back across the board today," said Nikita R Tissera, manager research at SC Securities. "Sampath dominated the day's play. We believe it was a local - local deal."

Brokers said 5.8 million Sampath Bank shares were traded in eight crossings, or privately negotiated off-the-floor deals at 328 rupees a share, contributing 1.9 billion rupees to the day's trading turnover.

Sampath closed at 330 rupees, down 8.25 rupees.In recent weeks state funds have been buying aggressively in the stock market, Hemas Holdings was also heavily traded with some 1.2 million shares changing hands. It closed at 36.75, down 2.25.

Courtesy - LBO
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Jul 6, 2010

Sri Lanka Stock Market Update - 6th July 2010

Sri Lankan shares closed down Tuesday as retailers took defensive positions to minimize losses, while price gains on selected blue chip and midcap shares stopped the market from falling further, brokers said. The All Share Price Index closed at 4,547.18, down 11.30 points, while the more liquid Milanka index fell 0.20 percent (10.25 points) to close at 5,130.03. Turnover was 2.14 billion rupees, according to stock exchange provisional figures.

"The market witnessed selling pressure with all stocks taking a fall and volumes continued to be thin," Sahani De Silva, research analyst at Bartleet Mallory Stockbroker said.

"We expect the market to bounce back in the coming days with investors looking at bargain hunting."

Investors took defensive positions to minimize losses, while 'penny' stocks continued to be heavily traded, brokers said.

Blue Diamonds Jewellery Worldwide, one of the most traded shares in the last few days closed at 6.25 rupees, down 1.00 with 3.6 million shares traded.

Muller and Phipps closed at 1.40 rupees, down 10 cents with 5.0 million shares traded, and Piramal Glass Ceylon closed at 2.90 rupees, down 10 cents with 4.4 million shares changing hands.

Seylan Merchant Bank closed at 1.70 rupees, down 20 cents with 17.1 million shares changing hands, while its non-voting shares changed hands at 1.40 rupees, down 20 cents with 6.23 million shares traded.
Sierra Cables closed at 3.80 rupees, down 10 cents with 10 million shares traded, brokers said.

Gains on selected midcap and high value stocks stopped the market from falling further, brokers said.

In a privately negotiated off-the-floor deal 2.2 million shares of Commercial Bank of Ceylon, an index heavy stock changed hands at 182 rupees per share. It closed at 182.00 rupees, up 3.75.

Hatton National Bank closed at 273.50 rupees, down 50 cents, Nations Trust Bank closed at 52.75 rupees, down 1.00, Sampath Bank closed at 343.25 rupees, down 3.75 and Seylan Bank closed flat at 75.25 rupees.

In another private deal 15 million shares of Janashakthi Insurance changed hands at 15.00 rupees with a premium of 25 cents. It closed at 15.25 rupees, up 50 cents.

Kahawatte Plantations closed at 32.75 rupees, down 1.25 with 15.5 million of its rights shares changing hands at 2.00 rupees, brokers said.

Aitken Spence closed at 1,500.00 rupees, down 104.50 rupees on 100 shares traded, Hayleys closed at 303.00 rupees, down 1.75 and John Keells Holdings, another index heavy stock closed at 201.00 rupees, down 75 cents.

Courtesy - LBO
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Sri Lanka Stock Market Update - 5th July 2010

Sri Lankan stocks closed lower Monday as retailers took profit on banking stocks and penny stocks continued to be heavily traded brokers said. The All Share Price Index closed at 4,558.48, down 35.17 points, while the more liquid Milanka index fell 1.35 percent (70.53 points) to close at 5,140.28. Turnover was 1.18 billion rupees, according to stock exchange provisional figures.

"The domination of the penny stocks continued," Nikita Tissera, research manager at SC Securities said.

"Sierra Cables, Blue Diamonds and Seylan Merchant Bank found their way in to top traded list as blue chips seemed to lose their shine with retailers."

Blue Diamonds Jewellery Worldwide closed at 7.25 rupees, down 25 cents, while its non-voting shares closed at 3.40 rupees down 30 cents with 32 million shares traded.

Amana Takaful closed at 3.30 rupees, down 10 cents with almost 2.9 million shares traded, Muller and Phipps (Ceylon) closed at 1.50 rupees, up 10 cents with over 14 million shares traded, Piramal Glass Ceylon closed flat at 3.00 with 3.72 million shares traded.

Seylan Merchant Bank closed flat at 1.90 rupees, with 23.5 million shares traded, while its non-voting shares closed flat at 1.60 rupees with 9.0 million shares traded.
Sierra Cables closed at 3.90 rupees, up 30 cents with 32.7 million shares traded, and Tess Agro closed at 2.40 rupees, down 10 cents with 5.0 million shares traded, brokers said.

Retailers with weak holding capacity continued to cash out on high value stocks such as banks and diversified, brokers said.

Commercial Bank closed at 178.25 rupees, down 1.50, Hatton National Bank closed at 274.00 rupees, down 1.25, Nations Trust Bank closed at 53.75 rupees, up 25 cents, Sampath Bank closed at 347.00 rupees, down 7.50 and Seylan Bank closed at 75.25 rupees, down 4.25.

DFCC Bank closed at 254.00 rupees, down 3.00, and National Development Bank closed at 243.00 rupees, down 1.50.

John Keells Holdings, a diversified holding, closed at 201.75 rupees, down 2.75, and Distilleries Company of Sri Lanka, an alcohol manufacturer closed at 128.25 rupees, down 75 cents.

Courtesy - LBO
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Jul 2, 2010

Sri Lanka Stock Market Update - 2nd July 2010

Sri Lankan stocks closed down Friday as profit- taking on selected high value shares pulled the market down, while retail investors continued to chase after 'penny' stocks, broker said. The All Share Price Index closed at 4,593.65, down 17.6 points, while the more liquid Milanka index fell 0.63 percent (38.4 points) to close at 5,210.81. Turnover was 3.4 billion rupees, according to stock exchange provisional figures.

"Despite the fall in regular stocks, penny stocks were sought after," Thakshila Hulangamuwa, vice president, business development at stock brokering firm Asha Phillip Securities said.

"We expect the market to stabilize in the coming weeks."

Brokers said retail investors had shifted a gear chasing after penny stocks.

Blue Diamonds Jewellery Worldwide shares closed at 8.00 rupees, up 1.25 with over 26 million shares traded, while its non-voting shares closed at 3.80 rupees, up 90 cents with 52 million shares changing hands, brokers said.

Over 12 million shares of Amana Takaful changed hands, Friday. It closed at 3.30 rupees, up 30 cents, and Hotel Reefcomber closed at 4.20 rupees, up 20 cents with 15.2 million shares traded.

Muller and Phipps (Ceylon) closed at 1.40 rupees, up 20 cents with 35 million shares traded, and Piramal Glass Ceylon closed at 3.00 rupees, up 20 cents with 33.4 million shares changing hands, brokers said.
Seylan Merchant Bank closed at 2.00 rupees, up 30 cents with 123.9 million shares traded, while its non-voting shares closed at 1.80 rupees, up 50 cents with 55.6 million shares changing hands.

Sierra Cables closed at 3.60 rupees, up 40 cents with nearly 35 million shares traded, brokers said.

In a privately negotiated off-the-floor deal 1.54 million Kandy Hotels Company shares changed hands at 200.00 rupees per share, brokers said. It closed at 181.00 rupees, up 6.50.

Retail investors continued to take profits from high value stocks, brokers said.

Commercial Bank closed at 179.50 rupees, down 1.50, Hatton National Bank closed at 275.00 rupees, down 6.00 on razor thin trading volumes, Nations Trust Bank closed at 53.50 rupees, down 1.75, Sampath Bank closed at 354.00 rupees, down 1.25 and Seylan Bank closed at 79.50 rupees, down 50 cents.

Aitken Spence closed at 1,605.00 rupees, down 5.00, Hayleys closed at 305.00 rupees, up 5.00, Hemas Holdings closed at 195.00 rupees, up 4.75 and John Keells Holdings, an index heavy stock closed at 204.50 rupees, up 50 cents with 1.57 million shares traded, brokers said.

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

Sri Lankan stocks closed down Thursday as investors took a wait-and-see approach on high value shares that in recent weeks had significantly moved up in price, while retail investors were seen chasing after 'penny' stocks, broker said. The All Share Price Index closed at 4,601.63, down 0.23 percent (10.83 points) while the more liquid Milanka index fell 0.88 percent (46.51 points) to close at 5,231.84. Turnover was 3.06 billion rupees, according to stock exchange provisional figures.

"There was institutional and high net-worth participation on blue chip and midcap stocks," Rakshitha Perera, research manager at Bartleet Mallory Stockbrokers said.

"Retail participation was encouraging with interest seen on midcap and low value shares."

Brokers said retail investors were seen chasing selected low value stocks.

Blue Diamonds Jewellery Worldwide closed at 7.25 rupees, up 4.55 with 35.2 million shares traded, while its non-voting shares closed at 3.00 rupees, up 1.90 with 129.7 million shares changing hands.

In a privately negotiated off-the-floor deal 3.24 million Dipped Products shares changed hands at 125.00 rupees per share. It closed at 124.75 rupees, down 25 cents, broker said.

In another privately negotiated deal two million Distilleries Company of Sri Lanka shares changed hands at 130.00 rupees per share. It closed at 129.50 rupees, up 25 cents, brokers said.
Aitken Spence closed at 1,610.00 rupees, up 2.25, Hayleys closed at 300.00 rupees, down 5.00, Hemas Holdings closed at 190.00 rupees, up 5.75 and John Keells Holdings closed at 203.75 rupees, down 1.25.

Commercial Bank closed at 181.50 rupees, up 3.00, Hatton National Bank closed flat at 281.00, Nations Trust Bank closed at 55.25 rupees, down 25 cents, Sampath Bank closed at 358.00 rupees, down 1.25 and Seylan Bank closed at 80.00 rupees, down 1.75.

Dialog Telekom closed at 9.50 rupees, down 25 cents with three million shares changing hands at 9.75, while Sri Lanka Telecom closed at 36.75 rupees, down 25 cents.

Courtesy - LBO
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