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Jan 27, 2011

Colombo Stock Market All Share Price Index passes Milanka Price Index


Since week after our Sri Lanka Equity Forum’s exclusive prediction post that said Colombo Stock Exchange’s All Share Price Index (ASPI) would soon pass Milanka Price Index(MPI),continued retail dominance eventually led Colombo’s All Share Price Index (ASPI) to pass Milanka Price Index (MPI) today. Aggressive buying pressure across the plantation sector, retail driven poultry stocks and institutional investors’ interest in SAMP helped gain ASPI. Mixed sentiments on blue chips seem to keep the MPI stagnant.

The All Share Price Index (ASPI) closed at 7,241.87points, up 0.23% by 6.63 points and the Milanka Price Index (MPI) of more liquid stocks closed at 7,220.85 points, dropped 0.28% by 20.07 points as at end of trading day.

Poultry stocks rode the market and reached almost high including Bairaha Farms (BFL) crossing Rs.519 and Three Acre Farms (TAFL) rising to Rs.193.50 with Ceylon Grain Elevators reaching high to Rs.195.

Turnover was Rs.5 billion topped 55.18% with a total volume of 171.5 million shares changing hands (increased 42.15%) with 91 listed gainers and 131 listed losers. Foreign purchases rose by 76.60% to Rs.248.8 million and foreign sales rose by 99.3% to Rs.471.28 million. However, Price to forward Earnings Ratio (PER) slightly appreciated by 0.37% to 27.4 times.

Plantations and Bank, Finance & Insurance sectors were the highest contributors to the market turnover. Plantations sector index increased by 13.45% while Bank, Finance & Insurance sector index decreased by 0.79%. Sampath Bank (SAMP) made the highest contribution to the market turnover with three crossings of 1,300,000 shares at Rs.300. The share price increased by Rs.8.70 (2.99%) and closed at Rs.301.Horana Plantations (HOPL) also contributed to the market turnover while the share price increased by Rs.17.70 (33.52%) and closed at Rs.70.10. Another crossing was recorded for 200,000 shares of Hayleys (HAYL) at Rs.380.

CT Holdings (CTHR) announced an interim dividend of Rs.0.50 per share. CT Land Development (CTLD) announced an interim dividend of Rs 0.60 per share a day earlier.

Globally, European stocks were higher today as confidence in the global economy improves ahead of the U.S. Federal Reserve's key policy meeting. FTSE 100 rose 0.7%.

Sri Lankan Secondary Debt Market Yields were slightly up in the Treasury Bill primary auction. Secondary market Treasury bond yields slightly increased, while the market activity was relatively low.

Sri Lankan Rupee depreciated slightly as the exchange rate was recorded at Rs.111.07 to Rs.111.10 per US Dollar.

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