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Jan 22, 2011

Small and Mid Caps dominate at Colombo Stock Exchange

Colombo’s All Share Price Index (ASPI) gained on Friday the January 21,2011; with the renewed interest shown in Manufacturing sector counters, with the positive interim results of Royal Ceramics (RCL) and Primal Glass (GLAS). Week ended positively with ASPI gaining 3.15% from the last week. However, the volatility of MPI continued, declining 0.11% for this week.

The All Share Price Index (ASPI) closed at 7,254.01 points, rose 0.85% by 60.91 points and the Milanka Price Index (MPI) closed at 7,292.95 points, down 0.11% by 7.73 points during the day. Market turnover was at Rs.4.1 billion down 11.14% with 213.3 million shares changing hands (up 49.86%). Foreign purchases declined by 17.26 to Rs.237.7 million and foreign sales rose by 18.70% Rs.485.69 million. Price to forward Earnings Ratio (PER) slightly appreciated by 0.73% to 27.5 times.

Manufacturing and Bank, Finance & Insurance sectors were the highest contributors to the market turnover while indices increased by 2.38% and 1.09% respectively. Laugfs Gas (LGL) made the highest contribution to

the market turnover with a crossing of 549,700 shares at Rs.48.50. The share price was unchanged and closed at Rs.50. Amana Takaful (ATL) also contributed to the market turnover while the share price increased by

Rs.0.70 (20.59%) and closed at Rs.4.10. Several other crossings were recorded including 1 crossing of 150,000 shares of Royal Ceramics (RCL) at Rs.155, 1 crossing of 500,000 shares of The Lion Brewery (LION) at Rs.190, Diesel & Motor Engineering (DIMO) 1 crossing of 30,000 shares at Rs.1,500 and 1 crossing of Pan Asian Power (PAP) 6,990,000 shares at Rs.4.90.

Globally, U.S. stocks fell slightly as investors fretted over the potential for more tightening measures from China following stronger-than expected economic growth from the country. Dow was down 0.02%.

Sri Lankan Secondary Debt Market Treasury bond yields were mostly unchanged, while the market activity was relatively low.

Sri Lankan Rupee depreciated slightly as the exchange rate was recorded at Rs.111.01 to Rs.111.03 per US Dollar.


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