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Feb 12, 2011

Week finishes in green at Colombo Stock Exchange


Investors responded well to the positive interim results on Friday the 11 February, 2011 to lift All Share Price Index (ASPI) over 100 points during early trading. However, momentum was subdued and market became stagnant as profit taking took place on counters such as TYRE. ASPI and MPI gained 3.26% and 1.10% for the week respectively according to brokers.

The All Share Price Index (ASPI) closed at 7,586.63 points, rose 1.24% by 93.01 points and the Milanka Price Index (MPI) closed at 7,259.81 points, increased 0.41% by 29.46 points during the day. Total turnover was at Rs.3.8 billion fell 24.52% with a volume of 96.33 million shares changing hands (down 15.58%). Foreign purchases rose 7.51% to Rs.197.6 million and foreign sales declined 59.48% to Rs.294.1 million. Price to forward earnings Ratio (PER) appreciated 1.41% to 28.7 times.

Among the top gainers Bukit Darah (BUKIT) closed at Rs. 1,200 rose Rs.254.50 by 27.04% and Carsons Cumberbatch (CARS) closed at Rs. 607.90 by Rs.17.10 increased at 2.93%

Manufacturing and Diversified sectors were the highest contributors to the market turnover. Manufacturing sector index decreased by 0.12% while Diversified sector index increased by 0.57%. Kelani Tyres (TYRE) made the highest contribution to the market turnover while the share price decreased by Rs.5.90 (12.94%) and closed at Rs.59.20. 14.8 million shares changed hands of TYRE with a contribution of Rs.875.2 million to the market turnover.

Several crossings were recorded including Dialog Axiata (DIAL) 5 million shares at Rs.12, Commercial Bank (COMB) 150,000 shares at Rs.277.00, DFCC Bank (DFCC) 106,000 shares at Rs.190, Colombo Dockyard (DOCK) 91,000 shares at Rs. 275.

Dialog Axiata (DIAL) announced a final dividend of Rs.0.20 per share. Aviva NDB Insurance (CTCE) announced a final dividend of Rs.9 per share..

Globally, European stocks were mostly lower today while euro-zone debt concerns and unrest in Cairo also continued to weigh. FTSE 100 Index was flat.

Sri Lankan Secondary Debt Market Treasury bond yields slightly increased, while the market activity was relatively low.

Sri Lankan Rupee depreciated slightly as the exchange rate was recorded at Rs.111.04 to Rs.111.06 per US Dollar.

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