Sri Lanka Equity Analytics

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Mar 2, 2011

Sri Lanka Milanka Price Index continues to dip

Colombo All Share Price Index (ASPI) continued to gain with the price appreciations seen on illiquid counters in Investment and Motor sectors along with Carsons (CARS) and Bukit Darah (BUKI) Laugfs (LGL), Lanka Walltile (LWL) and Dialog (DIAL) attracted investors on Monday the 28 February 2011 although profit taking was witnessed in most counters.

The All Share Price Index (ASPI) closed at 7,797.96 points rose 1.12% and the Milanka Price Index (MPI) closed at 7,140.92 points, dipped 0.40% as at the end of trading day. Turnover recorded to be Rs.2.2 billion dropped 27.54% with 77 gainers and 147 listed losers. A total volume of 63.58 million shares changed hands (down 4.93%) whilst the foreign purchases dropped 52.17% to Rs.119.9 million and foreign sales fell 30.34% to Rs.180.8 million. Price to forward Earnings Ratio (PER) appreciated by 1.03% to 29.5 times.

Guardian Capital (WAPO) closed at Rs.2,913.30 rose by Rs.971.10 at 50% amidst rights trading that is yet to commence on next day while Carsons Cumberbatch (CARS) closed at Rs.700 appreciated by Rs.22.90 at 3.39% and Finlays Colombo (JFIN) closing at Rs.379 rose by Rs.97.80 at 36.22% during the day.

Bank, Finance & Insurance and Manufacturing sectors were the highest contributors to the market turnover while sector indices decreased by 0.40% and 1.26% respectively. Laugfs Gas-(Non-Voting) (LGL.X) made the highest contribution to the market turnover while the share price increased by Rs.0.50 (1.20%) and closed at Rs.42.30.

Several crossings were recorded including one million The Finance (TFC) shares at rs.45 and 150,000 LB Finance (LFIN) shares at Rs.299, Ceylinco Insurance (CINS) 150,000 shares at Rs.555 with 130,000 Asian Alliance (AAIC) shares at Rs.161 per share.

Soflogic Finance (CRL) announced an interim dividend of Rs.1 per share.

Globally, most Asian stock markets were mixed as a surge in oil prices amid continued worries over the Middle East hit airline stocks and dampened sentiment. Nikkei rose 0.3%.

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

Sri Lankan Rupee depreciated as the exchange rate was recorded at Rs.110.79 to Rs.110.80 per US Dollar.


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