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Jan 25, 2011

Five day rally ends at Colombo Stock Exchange


Colombo Stock market witnessed short term profit taking weighed on indices during early trading on Tuesday the 25 January, 2011. However, renewed interest in poultry sector and plantations stocks fueled by positive interim results created a bullish sentiment towards the end of the trading day.

All Share Price Index (ASPI) closed at 7,225.24 points down by 0.5% through 36.13 points while the easily moving Milanka Price Index (MPI) closed at 7,240.92 points dipped 0.79% by 57.65 points during the day. Turnover dropped 21.1% to Rs. 3.2 billion whilst the foreign purchases dipped by 55.71% to rs.140.9 million and foreign sales also declined 59.74% to Rs.236.4 million. A total of 120.7 million shares got traded down 35.15% compared to a day earlier. Meanwhile, Price to forward Earnings Ratio (PER) tumbled 0.36% to 27.3 times.

Manufacturing and Beverage, Food & Tobacco sectors were the highest contributors to the market turnover. Manufacturing sector index decreased by 0.64% and Beverage, Food & Tobacco sector index increased by 0.53%. Laugfs Gas (LGL) made the highest contribution to the market turnover with a crossing of 494,700 shares at Rs.49.60. The share price increased by Rs.1.30 (2.69%) and closed at Rs.50.

Several other crossings were recorded including 1 crossing of Hayleys (HAYL) 225,000 shares at rs.358.90 per share, 1 crossing of Amaya Leisure (CONN) 500,000 shares at Rs.120 per share, 1 crossing of Brown & Company (BRWN) 100,000 shares at Rs.259 per share and two crossings of 150,000 shares of Lion Brewery (LION) at Rs.192.

Vallibel Power Erathna (VPEL) announced an interim dividend of Rs.0.20 per share. Watapota Investments PLC (WAPO) announced a rights issue of seventy five (75) for every two (2) shares at an issue price of Rs.20.

Globally, The Dow Jones Industrial Average came within a hair's breadth of 12000 as investors embraced positive corporate earnings.

Sri Lankan Secondary Debt 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.110.95 to Rs.111.00 per US Dollar.

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