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Jan 19, 2011

Colombo Stock Indices back on track

Singer Finance (SFIN) continued to attract retail investors at Colombo Stock Exchange on Tuesday the 18 January, 2011 whilst Healthcare sector gained, triggered by a negotiated deal of Asiri hospitals (ASIR) as well as on renewed interest in certain counters in the sector. Indices improved amidst accumulation across the board.

The All Share Price Index (ASPI) closed at 7,058.33 points, up 0.72% with 50.27 points and Milanka Price Index (MPI) closed at 7,248.20 points, up 0.11% by 8.16 points during the day. Turnover was at Rs.3.4 billion rose 10.14% with a total of 190.53 million shares changing hands (up 21.59%). Foreign purchases rose 5.89% to Rs.215.38 million and foreign sales decreased by 19.56% to rs.170.9 million. However, Price to forward Earnings Ratio (PER) slightly appreciated by 0.75% to 26.8 times.

Among positive contributors were Diesel & Motor Engineering (DIMO) that topped 12.17% by Rs.168.90 closing at Rs.1,590 and Colombo Fort land (CFLB) closing at Rs.320 that increased by Rs.61.80 through 24.63%.

Bank, Finance & Insurance and Healthcare sectors were the highest contributors to the market turnover while indices increased by 0.04% and 6.06% respectively. Singer Finance (SFIN) made the highest contribution to the market turnover. The share price increased by Rs.1.40 (2.85%) and closed at Rs.51.40. Asiri Hospitals (ASIR) also contributed to the market turnover with a crossing of 41,769,190 shares at Rs 9. The share price increased by Rs.0.20 (2.27%) and closed at Rs.9. Lankem Ceylon (LCEY) announced an interim dividend of Rs.1.00 per share.

Globally, European stocks rose today, taking their cue from gains in Asian equity markets and helped by strength in the autos and basic resources sectors. FTSE 100 was 1.2% higher. Most Asian markets ended higher today, with a strong outlook for nonferrous and precious metals driving several stocks in the sector. Nikkei gained 0.2%.

Sri Lankan Secondary Debt Market’s six months yields were up while three months and twelve months yields were down in the Treasury Bills primary auction. Secondary market Treasury bond yields slightly increased, while the market activity was relatively high.

Sri Lankan Rupee depreciated slightly as the exchange rate was recorded at Rs. 110.81 to Rs.110.83 per US Dollar.


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