Sri Lanka Equity Analytics

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Feb 3, 2011

Sri Lanka All Share Price Index records all time high again

Sri Lanka stock indices gained amidst aggressive retail buying on Wednesday the 2 February, 2011. Stocks which created short term rallies in Poultry and Manufacturing sectors recently, witnessed further interest. Large cap counters continued to underperform small and mid caps which is a cause for concern according to brokers.

The All Share Price Index (ASPI) closed at 7,262.26 points, up 0.99% by 71.49 points and the Milanka Price Index (MPI) closed at 7,150.94 points, up 0.42% by 29.66 points during the day. Turnover was at Rs.4.1 billion topped 28.78% with a total volume of 111.2 million shares changing hands rose 15.49%. Foreign purchases rose 10.45% to Rs.211.2 million and foreign sales also increased by 38.39% to Rs.234.4 million. Price to forward Earnings Ratio (PER) appreciated by 1.1% to 27.5 times.

Manufacturing and Beverage, Food & Tobacco sectors were the highest contributors to the market turnover. While both indices increased by 1.68% and 1.36% respectively. Three Acre Farms (TAFL) made the highest contribution to the market turnover while the share price increased by Rs.34.70 (18.91%) and closed at Rs.53.90. Three crossings were recorded including Lanka Walltile (LWL) 600,000 shares at Rs.165 and Laugfs Gas non-voting (LGL.X) 500,000 shares at Rs.40.50 and Sampath Bank (SAMP) 200,000 shares at Rs.299 per share. HDFC Bank announced an interim dividend of Rs.5.00 per share.

Among the positive contributors were Carsons Cumberbatch (CARS) which rose 2.02% by Rs.11 closing at Rs.560 and CT Holdings (CTHR) that rose by Rs.13 at 6.19% closing at Rs.224.

Globally, the Dow Jones Industrial Average closed above 12000 on yesterday for the first time since June 2008. Asian markets ended higher today on solid Wall Street gains and as investors looked beyond the ongoing unrest in Egypt. Nikkei climbed 1.8%.

Sri Lankan Secondary Debt Market Yields were marginally down in the Treasury Bills primary auction yesterday. Secondary market Treasury bond yields slightly decreased, while the market activity was high.

Sri Lankan Rupee appreciated slightly as the exchange rate was recorded at Rs.110.95 to Rs.110.98 per US Dollar.


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