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Feb 23, 2011

Indices remain red at Colombo Stock Exchange amidst Lanka Walltile and Fortress Hotels rally

Indices continued to dip with thin volumes after the rapid gains made over the last few weeks at Colombo Stock Exchange on Tuesday the 22 February 2011. However, retail investor interest was shown in counters such as LWL and RHTL despite the profit taking across the board.

The All Share Price Index closed at 7,514.74 points, fell 1.37% by 102.45 points and the Milanka Price Index (MPI) closed at 7,160.38 points dropped 1.09% through 78.94 points during the trading day. Total turnover was at Rs.2.1 billion fell 6.15% with a volume of 48.6 million shares changing hands (fell 14.50%). Foreign purchases dropped 13.32% to Rs.145.8million and foreign sales rose 74.16% to Rs.334.4 million. Price to forward Earnings Ratio (PER) recorded to be 28.4 times (dipped 1.39%).

Diversified and Bank, Finance & Insurance sectors were the highest contributors to the market turnover while sector indices decreased by 1.96% and 1.19% respectively.

Aitken Spence & Co. (SPEN) made the highest contribution to the market turnover with three crossings of 778,000 shares at Rs.170 while the share price increased by Rs 0.40 (0.23%) and closed at Rs.170.90. Foreign holding of the company decreased by 910,597 shares.

Several crossings were recorded including 3 crossings of John Keells (JKH) 300,000 shares at Rs.292, two crossings of Sampath Bank (SAMP) 300,000 shares at Rs.292.50 and 350,000 shares of Lanka Walltile (LWL) at Rs.165 per share.

Seylan Bank (SEYB) announced a first & final interim dividend of Rs.1.00 per share.NTB Bank (NTB) announced a first & final dividend of Rs.2.00 per share.

Globally, European stocks plunged as the escalating tension in Libya continued to damage investor confidence and boost oil prices. FTSE 100 fell 1.2%.

Sri Lankan Secondary Debt Market Treasury bond yields were slightly up, while the market activity was marginally high.

Sri Lankan Rupee depreciated slightly as the exchange rate was recorded at Rs.110.88 to 110.90 per US Dollar.


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