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Mar 5, 2011

Lanka Hospitals Lifts Turnover at Colombo Stock Exchange

Indices recovered from earlier day’s sharp dip on Friday the 4 March 2011, while the market turnover surged to its highest since late December 2010 supported by a crossing in Lanka Hospitals. The week, which witnessed large fluctuations in the All Share Price Index (ASPI), concluded with ASPI and Milanka Price Index (MPI) declining 2.29% and 1.95%, respectively.

The All Share Price Index (ASPI) closed at 7,664.72 points, topped 1. 91% by 143.98 points and the Milanka Price Index (MPI) closed at 7,029.42 points rose up 0.76% through 52.93 points during the day. Turnover was at Rs.7.6 billion (up (183.42%) with a total of 159.18 million shares changing hands (rose (159.51%), foreign purchases rose by 1638.02% to Rs.4.18 billion and foreign sales dipped 40.75% to 248 million. Price to forward Earnings Ratio rose 1.75% to 29 times.

Health care and manufacturing sectors were the highest contributors to the market turnover while sector indices increased by 0.74% and 1.98% respectively.

Lanka Hospitals (LHCL) made the highest contribution to the market turnover with a crossing of 64,120,915 shares at Rs.62 while the share price decreased by Rs 3.00 (5.57%) and closed at Rs.50.90.

Several other crossings were recorded including two crossings of Ceylon Grain Elevators (GRAN) 3,9 million shares at Rs.205, Laugfs Gas (LGL) two crossings 1,313,500 at Rs.55 and another crossings of 2 1,152,300 shares at Rs.53, Hemas Holdings (HHL) three crossings 2,6 million shares at Rs.46.50, Aitken Spence Hotels (AHUN) 500,000 shares at Rs.102 per share.

Globally, U.S. stocks posted gains as the Dow reached its highest in three months on a strong reading on the employment data and a drop in oil prices. Dow was up 1.6%. Asian stock markets posted solid gains, cheered by Wall Street’s gains, and optimism over US job data. Nikkei was up 1%.

Sri Lanakan Secondary Debt Market Treasury bond yields were mostly higher, while the market activity was dull.

Sri Lankan Rupee appreciated as the exchange rate was recorded at Rs.110.37 to Rs.110.42 per US Dollar.


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