Sri Lanka Equity Analytics

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Mar 2, 2011

Colombo Stock Prices tumble amidst exorbitant trades of WAPO Rights

Colombo All Share Price Index (ASPI) dipped on Tuesday the 1 March 2011 amidst selling witnessed on certain illiquid counters which experienced rapid price fluctuations during last few days. Continued profit taking across the board weighed on the indices as well, whilst considerable institutional and high networth activity was also witnessed.

The All Share Price Index (ASPI) closed at 7,701.19 points, dipped 1.24% by 96.77 points and the Milanka Price Index (MPI) closed at 7,096.56 points, dropped 0.62% by 44.36 points during the day. Total turnover was at Rs.2.699 billion topped 22.86% and foreign purchases rose 26.76% at Rs.152 million and foreign sales Rs.440.3 million increased by 143.54%. However, price to forward Earnings Ratio depreciated 1.02% to 29.2 times.

Bank, Finance & Insurance and Manufacturing sectors were the highest contributors to the market turnover while sector indices decreased by 0.71% and 0.75%respectively.

Guardian Capital-(Rights) (WAPO.R) made the highest contribution to the market turnover while the share price decreased by Rs.2,878.40 (99.48%) and closed at Rs.500.

Several crossings were recorded including three crossings of Commercial Bank (COMB) 564,500 shares at Rs.270, Lanka Floortiles (TILE) 1 million shares at Rs.130, Sampath Bank (SAMP) two crossings of 200,000 shares at Rs.290, Asian Alliance (AAIC) 750,000 shares at Rs.145 , Dialog Axiata (DIAL) 1,707,600 shares at Rs.11.50, Hemas Holdings (HHL) 747,700 shares at Rs.47.50, Ceylinco Insurance (CINS) 50,000 shares at Rs.560 and Lanka Ceramics 192,000 shares at Rs.148 per share.

Singer (Sri Lanka) (SINS) announced a final dividend of Rs 3.50 per share. Singer Industries (SINI) announced a final dividend of Rs 2.00 per share. Regnis (Lanka) (REG) announced a final dividend of Rs.6.00 per share.

Sri Lanka Secondary Debt Market Six months yields were down in Treasury Bill primary auction. Secondary market Treasury bond yields were up, while the market activity was relatively low.

Sri Lankan Rupee appreciated as the exchange rate was recorded at Rs.110.63 to Rs.110.68 per US Dollar.


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