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Feb 19, 2011

Investors gain under thin volumes at Colombo Stock Exchange

A lackluster market was witnessed at Colombo Stock Exchange on Friday the 18 February 2011 as investor activity was subdued by the mid week holidays. However, indices gained amidst a response to the positive interim results. The week ended with All Share Price Index (ASPI) gaining 1.13% and Milanka Price Index (MPI) dipping 0.24%.

The All Share Price Index (ASPI) closed at 7,672.49 points, rose 0.85% by 64.70 points while the Milanka Price Index (MPI) closed at 7,242.15 points, increased 0.24% by 17.48 points during the day.

Turnover was at Rs.1.9 billion decreased by 54.96% and a total volume of 46.5 million shares changed hands dipped 41.14% compared to earlier market day. Foreign purchases dipped 32.13% to Rs.122.28 million and foreign sales also fell 84.39% to Rs.197.28 million. Price to forward Earnings Ratio (PER) rose 0.69% to 29 times.

Bank, Finance & Insurance and Diversified sectors were the highest contributors to the market turnover while indices increased by 0.65% and 0.83% respectively.

Brown & Company (BRWN) made the highest contribution to the market turnover while the share price increased by Rs 20.40 (7.43%) and closed at Rs 296.

A crossing was recorded for 300,000 shares of Asian Alliance (AAIC) at Rs.154. Union Assurance (UAL) announced a final dividend of Rs.6.20 per share last Tuesday.

Asian Alliance (AAIC) announced a final dividend of Rs.3 per share last Tuesday.

Globally, U.S. stocks finished higher after a white-hot reading from mid-Atlantic manufacturers outweighed jobs figures and a rise in U.S. consumer prices. Dow gained 0.24%.

Asian stock markets were mixed today while tensions in the Middle East capped buyers in the Tokyo market. Nikkei was up 0.1%.

Sri Lankan Secondary Debt Market Treasury bond yields were flat, while the market activity was dull.

Sri Lankan Rupee appreciated slightly as the exchange rate was recorded at Rs.110.93 to Rs.110.95 per

US Dollar.


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