Sri Lanka Equity Analytics

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Jan 15, 2011

Colombo Stock Market ends with short day volatility run

Sri Lanka stock market continued with mixed retail sentiments on Friday the 14 January 2011, abridged trading. However, All Share Price Index (ASPI) gained marginally amidst the upward trend of banking sector. Institutional investors may enter the market after interim results are released according to brokers.

The All Share Price Index (ASPI) closed at 7,032.60 points rising by 0.15% through 10.72 points and the Milanka Price Index (MPI) closed at 7,301.09 points, down 0.35% by 25.75 points during the trading day.

Turnover recorded to be Rs.1.7 billion down by 51.18% with 80 gainers and 99 listed losers a volume of 128.14 million changed hands down 64.12% compared to earlier day. Foreign purchases declined by 80.28% to Rs.60.37 million and foreign sales also tumbled 58.10% to Rs.78.98 million. Price to forward Earnings Ratio (PER) was stable at 26.6 times.

First Capital Holdings (CFVF) closed at Rs.24.60, up by 2.50 with over 3.8 million shares changing hands and The Good Hope PLC (GOOD) closed at Rs.590 rising by Rs.134.90 at 29.64% with Lanka Orix Leasing (LOLC) closing at Rs.140.80 rose by Rs.6.60 at 4.92% adding positive contribution towards market turnover.

Bank, Finance & Insurance and Power & Energy sectors were the highest contributors to the market turnover. Bank, Finance and Insurance sector index increased by 0.97% and Power & Energy sector index decreased by 1.26%. Central Finance (CFIN) made the highest contribution to the market turnover with two crossings of 148,800 shares at Rs.875. The share price increased by Rs.41.40 (4.82%) and closed at Rs.900. Pan Asian Power (PAP) also contributed to the market turnover while share price increased by Rs.0.50 (11.90%) and closed at Rs.4.70. Odel (ODEL) announced an interim dividend of Rs.0.25 per share.

Globally, U.S. stocks declined yesterday, as materials shares lagged in the wake of disappointing economic data. Dow closed down 0.20%. Asian stock markets were lower today, after Wall Street's losses on yesterday. Nikkei was down 0.3%.

Sri Lankan Secondary Debt Market Treasury bond yields slightly decreased, while the market activity was relatively high.

Sri Lankan Rupee depreciated slightly as the exchange rate was recorded at Rs.110.77 to Rs.110.80 per US Dollar.


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