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Jan 25, 2011

Colombo Stock Indices gains amidst mixed sentiments



Colombo Stock Indices gained slightly on Monday the 24 January, 2011 while investors showed mixed sentiments on different counters. Buying pressure was witnessed in finance and manufacturing sectors. However, profit taking in small and mid cap counters subdued last week’s momentum according to brokers.

The All Share Price Index (ASPI) closed at 7,261.37 points, topped 0.10% by 7.36 points and the Milanka Price Index (MPI) closed at 7,298.57 points, increased 0.08% by 5.62 points at the end of market hours.

Turnover was at Rs.4.1 billion rose 0.19% with a total of 186.15 million shares traded (down 12.74%) and foreign purchases rose 33.83% to Rs.318.15 million whilst the foreign sales recorded high by 20.93% at Rs.587.35 million. Price to forward Earnings Ratio (PER) slightly dropped by 0.36% to 27.4 times.

Bank, Finance & Insurance and Manufacturing sectors were the highest contributors to the market turnover while indices increased by 0.85% and 0.87% respectively. MTD Walkers (KAPI) made the highest contribution to the market turnover. The share price decreased by Rs.16.30 (19.18%) and closed at Rs 67.90.

Several other crossings were recorded including 1 crossing of Amana Takaful (ATL) 5,00,100 shares at Rs.4, a crossing of Asia Capital (ACAP) 1.4 million shares at Rs.93, a crossing of Royal Ceramics (RCL) 200,000 shares at Rs.165, two crossings of lion Brewery (LION) 233,000 shares at Rs.190, a crossing of 50,000 shares of central Finance (CFIN) at Rs.961 per share and a crossing of 1,141,500 shares of Lanka Aluminium (LALU) at Rs.41.50 per share during the day.

Chemanex (CHMX) announced an interim dividend of Rs.1.00 per share last Friday.

Among the positive contributors were Lanka Orix Leasing (LOLC) which rose 3.05% by Rs.4.20 closing at Rs.141.90 with Cargills Ceylon (CARG) closing at Rs.239.50 (up by Rs.6.60 at 2.85%) and Ceylon Theatres (CTHR) closing at Rs.223.30 rose by Rs.9.80 at 4.56%.

Biaraha Farms (BFL) closed at Rs.457.90, rose by Rs.26.30 and Three Acer Farms (TAFL) closed at Rs.133.60, rose by Rs.24.60 during the day.

Globally, European stocks markets were slightly lower Monday, with auto stocks continuing to suffer due to worries about a possible further tightening of monetary policy by China. FTSE 100 was almost flat.

Sri Lanka Secondary Debt Market Treasury bond yields slightly increased, while the market activity was dull.Sri Lankan Rupee appreciated slightly as the exchange rate was recorded at Rs.110.90 to Rs.110.92 per US Dollar.

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