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Feb 2, 2011

Fort Land with Mid cap and small stocks rally the Colombo Stock Exchange

Colomb Stocks closed the trading on Tuesday the 1 February, 2011 with active retail trading in the small and mid-cap stocks whilst the All Share Price Index (ASPI) closed at 7,190.77, shot up 0.22% by 15.90 points and the Milanka Price Index (MPI) closed at 7,121.28, dipped 0.18% through 12.99 points.

Total turnover recorded to be Rs.3.2 billion and a total volume of 96.1 million shares changed hands. Foreign purchases were at Rs.191.2 million and foreign sales recorded to be 169.4 million. Price to forward Earnings Ratio (PER) was 27.2 times during the trading day.

Fort Land (CFLB) made the highest contribution to the market turnover with nearly one million shares changing hands at Rs.385.5 million in total.

Among the positive contributors were Hunters (HUNT) that closed at Rs. 1599 rose Rs.239 at 17.57 while Fort Land (CFLB) reached high at Rs.402 up 11.59% by Rs.47.30 and Lankem Ceylon (LCEY) closed at Rs.368.60 rose 12% by Rs.39.50.

Actively trading in mid cap stocks such as Citrus Leisure (REEF) was witnessed that closed at Rs.102.40, rose Rs.7.50 with over 2.3 million shares changing hands and Laugfs Gas (LGL) closed at Rs.53.70, dropped by Rs.1.70 with seven million shares traded.

Asian markets were flat to positive as the concerns over Egyptian turmoil fade and the US markets showed strong close overnight. Both the Nikkei and the Hang Seng were up moderately.

The weekly primary auction for the week ending 4 February, 2011 for the re-issue of Rs.11 billion maturing Treasury bills saw heavy oversubscription with bids worth Rs. 21.5 billion received.

Sri Lankan Rupee appreciated slightly as the exchange rate was recorded at Rs.111.08 to Rs.111.10 per US Dollar.


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