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Jan 22, 2011

Colombo Stock Exchange ASPI hits all time high


Colombo Stock Exchange ASPI made history, hitting the highest value ever on Thursday the 20 January 2011 while the Diversified sector was up, after a long pause as institutional and high networth investors returned to the market. Stability of the existing positive momentum will depend on the behaviour of these players.

The All Share Price Index (ASPI) closed at 7,193.10 points topped 1.91% by 134.77 points and the Milanka Price Index (MPI) closed at 7,300.68 points rising 0.72% increased by 52.48 points as at end of trading day. Turnover was at Rs.4.6 billion rose 33.06% with a total volume of 142.35 million shares changing hands (down 25.29%). Foreign purchases rose 33.4% to Rs.287.32 million and foreign sales also increased by 139.42% to Rs.409.18 million. Price to forward Earnings Ratio (PER) increased by 1.87% to 27.3 times.

Diversified and Bank, Finance & Insurance sectors were the highest contributors to the market turnover while indices increased by 2.68% and 0.09% respectively.

Laugfs Gas (LGL) made the highest contribution to the market turnover with three crossings (500,000 shares at Rs.47 and 1,000,000 shares at Rs.48). The share price increased by Rs.8.60 (20.77%) and closed at Rs.49.60. Premier Conglomerate John Keells Holdings (JKH) also contributed to the market turnover with a crossing of 712,800 shares at Rs.293. The share price increased by Rs.5.40 (1.84%) and closed at Rs.298.50.

Several other crossings were recorded including 1 of Hayleys (HAYL) with 225,000 shares at Rs.375, 2 crossings of Sampath Bank (SAMP) 292,900 shares at Rs.290, 1 crossing of Colombo Dockyard (DOC) 325,000 shares at Rs.271, 1 crossing of Commercial Bank (COMB) 135,000 shares at Rs.276 and 1 crossing of Renuka Holdings (RHL) 475,000 shares at Rs.72.

Globally, European stocks fell today, taking their cue from losses in Asian and U.S. markets. FTSE 100 was down 1.1%.

Sri Lankan Secondary Debt Market Treasury bond yields were unchanged, while the market activity was relatively low.

Sri Lankan Rupee depreciated slightly as the exchange rate was recorded at Rs.110.95 to Rs.110.98 per US Dollar.

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