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Apr 30, 2011

A red end to the week at Colombo Stock Exchange



Colombo Stock Indices slipped again amidst month end selling pressure. However, a substantial foreign participation was witnessed in the banking sector mainly in Commercial Bank (COMB). Week ended with All Share Price Index and Milanka Price Index decreasing 1.34% and 1.79% respectively.

The Bank, Finance & Insurance sector was the main contributor to the market turnover due to Commercial Bank (COMB) and Pan Asia Banking Corporation (PABC) with the sector index decreasing 0.16%. Commercial Bank (COMB) was the main contributor to the market turnover with six crossings (500,000 shares at Rs.267 and 2,000,000 shares at Rs.270). Foreign holding of the company decreased by 546,038 shares. The share price increased by Rs.10 (0.78%) and closed at Rs.270.

The Diversified sector also contributed to the market turnover (sector index decreasing 0.92%) mainly due to Colombo Fort Land (CFLB). Royal Ceramics (RCL) announced an interim dividend of Rs.1 per share. Interim results were also positive recorded a profit of Rs.439.69 million- a profit growth of 40% for the quarter. The share price marginally increased by Rs.0.60 (0.39%) and closed at Rs.150.

The All Share Price Index (ASPI) closed at 7,356.97 points, dipped 0.28% by 20.68 points and the Milanka Price Index also dropped 0.20% by 13.56 points closing at 6,822.77 points. Total turnover was at Rs.1.95 billion fell 6% with a volume of 51.8 million shares changing hands (increased 15.78%). Foreign purchases rose 441% to Rs.633.8 million and foreign sales also rose 83.07% to Rs.778.2 million. Price to forward earnings Ratio (PER) rose 0.38% to 26.2 times.

Colombo Fort Land (CFLB) 57,000 shares crossed at Rs.435 and Citrus Leisure (REEF) 871,300 shares crossed at Rs.66, Royal Ceramics (RCL) 134,000 shares crossed at Rs.153.70 per share.

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Another slight recovery in Colombo Stocks




Colombo Stock Indices gained with a comparatively high turnover. All Share price Index (ASPI) gained around 50 points during early trading while Milanka Price Index (MPI) MPI increased gradually. MPI recovered mainly due to the price appreciations of Commercial Bank (COMB), Pan Asia Banking Corporation (PABC) and Brown & Company (BRWN).

The All Share Price Index (ASPI) closed at 7,377.65 points, rose 0.19% by 13.87 points and the Milanka Price Index (MPI) topped 0.29% by 19.96 points closing at 6,836.33 points during the market hours. Turnover was Rs.2 billion (up by 56.99%) with a volume of 44.7 million shares changing hands (rose 20.74%). Foreign purchases topped 73.68% to Rs.117.15 million and foreign sales rose 223.09% to Rs.425.09 million. Price to forward Earnings Ratio (PER) was stable at 26.3 times.

Aitken Spence (SPEN) 310,000 shares crossed at Rs.164 and Ceylon Guardian Investment (GUAR) 80,000 shares crossed at Rs.383 per share.

The Bank, Finance & Insurance sector was the main contributor to the market turnover due to Commercial Bank (COMB) and Pan Asia Banking Corporation (PABC) with the sector index increasing 0.59%. Commercial Bank (COMB) was the main contributor to the market turnover with a crossing of 1,000,000 shares at Rs.265. Foreign holding of the company decreased by 1,000,000 shares. The share price increased by Rs.2.20 (0.83%) and closed at Rs.268. The Diversified sector also contributed to the market turnover sector index decreasing 2.97% mainly due to Colombo Fort Land (CFLB).

Investors showed interest in Pan Asian Banking Corporation (PABC) with the positive interim results recorded an operating profit of Rs.196.02 million a profit growth of 190% for the quarter. The company also announced a subdivision of one share for every existing share. Ceylon Tobacco (CTC), which was amongst the top negative contributors earlier, jumped backed to the top positive contributors list. The company announced an interim dividend of Rs.4.20 less withholding tax per share.

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Apr 27, 2011

Milanka Price Index continues to dip at Colombo




Colombo All Share Price Index (ASPI) gained while Milanka Price Index (MPI) continued to decrease amidst blue chip stocks’ dip. Renewed interest was witnessed in stocks such as Lankem Ceylon (LCEY), Brown & Company (BRWN) and Colombo Fort Land (CFLB). Investor participation has drastically come down since March according to brokers Possible positive interim results may break the dull momentum.

The All Share Price Index (ASPI) closed at 7,363.78, rose 0.20% by 14.61 points and the Milanka Price Index dipped 0.30% by 20.17 points closing at 6,816.37 points during the day. Turnover was at Rs.1.32 billion (fell 5.24%). Foreign purchases fell 59.74% to Rs.67.4 million foreign sales dropped Rs.70.41% to Rs.131.5 million. Price to forward Earnings Ratio (PER) appreciated 0.38% to 26.3 times.

Motor shares bounce backed with the sector itself up 15% amidst thin volumes after falling the previous two days after Monday's import duty hike on several models of cars.

Several crossings were done including Central Finance (CFIN) 15,000 shares at Rs.1,425 per share Lion Brewery (LION) 100,000 shares at Rs.234 per share, Ceylon Guardian Investment (GUAR) 55,000 shares at Rs.385, Tokyo Cement Non-Voting (TKYO.X) 500,000 shares at Rs.45.50 per share.

The Diversified sector was the main contributor to the market turnover due to Colombo Fort Land (CFLB) and CT Holdings (CTHR) with the sector index decreasing 0.11%. The Chemical & Pharmaceutical sector also contributed to the market turnover sector index increasing 2.97% mainly due to Lankem Ceylon (LCEY). The share price of Lankem Ceylon (LCEY) increased by Rs.46.60 (10.13%) and closed at Rs.520. Lanka Walltile (LWL) announced an interim dividend of Rs.1.50 per share while Asian Hotels & Properties (AHPL) announced a final dividend of Rs.2.00 per share. The share price decreased by Rs.0.20 (2.59%) in Piramal Glass (GLAS) despite the positive interim results.

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Stagnant market in Colombo




Colombo stocks Indices were mostly stagnant. However, Milanka Price Index (MPI) closed in red as blue chip stocks failed to appreciate amidst dull investor participation.

The All Share Price Index (ASPI) was only just changed, 0.05% rising by 3.69 points and closing at 7,349.17 and the Milanka Price Index (MPI) dipped 0.27% 18.73 points closing at 6,836.54 during the day. Market turnover was at Rs.1.39 billion (dropped 8.25%) with a volume of 51.24 million shares changing hands (topped 28.9%). Foreign purchases dropped 11.01% to Rs.167.5 million and foreign sales topped 282.39% to Rs.444.58 million. Price to forward Earnings remained stable at 26.2 times.

The Bank, Finance and Insurance sector was the main contributor to the market turnover due to Commercial Bank (COMB) with the sector index increasing 1.12%. Commercial Bank (COMB) made the highest contribution to the market turnover with two crossings of 1,401,402 shares at Rs.270. The share price increased by Rs.3.60 (1.33%) and closed at Rs.266. Foreign holding of the company decreased by 1,000,000 shares. The Diversified sector also contributed to the market turnover with sector index decreasing 0.61%. Aitken Spence Hotel Holdings (AHUN) bought 30,600 shares of Browns Beach Hotels (BBH) for Rs.646,660. Subsidiaries of Bukit Darah (BUKI) and Carsons Cumberbatch (CARS) made dividend announcements including Selinsing (SELI) at Rs.20.60 per share, Indo Malay (INDO) at Rs.10.60 per share and Good Hope (GOOD) at Rs.14.05 per share and Shalimar (Malay) (SHAL) at Rs.14.00 per share.

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Apr 25, 2011

Negative start in Colombo Stocks




Colombo all sector indices saw a downturn amidst continued lackluster investor participation on Monday the 25 April 2011. Decline in blue chip stocks reversed the positive momentum of Milanka Price Index (MPI) which was witnessed towards the end of last week. Most of the positive contributors were illiquid stocks.

The All Share Price Index (ASPI) closed at 7,345.48 points; dipped 1.49% through 111.34 points and the Milanka Price Index (MPI) further dropped 1.32% by 91.84 points closing at 6,855.27 during the day. Total turnover was at Rs.1.52 billion (rose 17.75%) with a volume of 39.75 million shares changing hands (fell 2.81%).

Foreign purchases dropped 1.62% to Rs.188.29 million and foreign sales fell 55.8% to Rs.116.26 million whilst the Price to forward Earnings Ratio depreciated 1.13% to 26.2 times.

Motor stocks suffered a steep fall after the Sri Lankan government said it was raising effective import tax rates on certain types of cars. Accordingly, the motor sector index itself fell 4.14% while prices of most shares of companies dealing in motor vehicles fell sharply. Lankem Developments (LDEV), which is making a 15 for one rights issue at Rs.25 each to raise almost Rs.2.6 billion fell sharply from Rs.79 in last week to Rs. 32.40 during last market hour with 1.87 million shares traded as it was the day before rights provisional allotment.

Several other crossings also happened including NDB Bank (NDB) 200,000 shares at Rs.165 and Dialog Axiata (DIAL) 2,487,200 shares at Rs.10.30 per share.

The Bank, Finance and Insurance sector was the main contributor to the market turnover due to Central Finance (CFIN) with the sector index increasing 1.03%. Central Finance (CFIN) made the highest contribution to the market turnover with two crossings of 41,000 shares at Rs.1,430. The share price increased by Rs.38.50 (2.74%) and closed at Rs.1,430. The share price has increased by 78% from mid March this year. The Diversified sector also contributed to the market turnover sector index decreasing 0.01% due to John Keells Holdings (JKH).

Piramal Glass (GLAS) announced a final dividend of Rs.0.30 per share. However, the share price decreased by Rs.0.10 (0.87%) and closed at Rs.11.40.

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Apr 22, 2011

Milanka Price Index closes in green at Colombo Stock Exchange




Colombo All Share Price Index (ASPI) continued to dip while the more sensitive Milanka Price Index (MPI) recorded gains amidst buying witnessed in some blue chip stocks. However, turnover and volume levels were low throughout the week while net foreign buying turned negative again. ASPI and MPI dipped 1.56% and 1.66% respectively for the week.

The All Share Price Index (ASPI) closed at 7,456.82 points, dropped 0.24% by 17.68 points while the Milanka Price Index (MPI) topped 0.14% by 9.95 points closing at 6,947.11 points during the day. Total turnover was at Rs.1.29 billion (fell 31.34%) with a total volue of 40.9 million shares changing hands (dropped 40.23%). Foreign purchases rose 130.93% to Rs.191.39 million and foreign sales dropped to Rs.263.03 million b y 107.37%. Price to forward Earnings Ratio (PER) depreciated 0.38% to 26.5 times.

Several crossings recorded including Diesel & Motor Engineering (DIMO) 50,000 at Rs.1,700 per share, Dialog Axiata (DIAL) 4,081,000 shares at Rs.1 0.20 per share and Ceylon Guardian Investment Trust (GUAR) 100,000 at Rs.392 per share.

The Manufacturing sector was the main contributor to the market turnover due to Ceylon Grain Elevators (GRAN) with the sector index increasing 0.12%. The share price of Ceylon Grain Elevators (GRAN)

decreased by Rs.1.80 (1.1%) and closed at Rs.163. The Bank, Finance and Insurance sector also contributed to the market turnover sector index decreasing 0.01%. Profit taking was witnessed in Aitken Spence (SPEN) along with some other illiquid stocks which saw gains recently.

Printcare PLC (CARE) announced a subdivision of five (5) shares for every existing share. The company also announced a final dividend of Rs.2.50 per share. The stock made rapid gains over the past couple of days. Tea Smallholder Factories (TSML) announced a final dividend of Rs.5 per share.

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Apr 21, 2011

Illiquid stocks fever continues at Colombo Stock Exchange




Colombo stocks Indices were stagnant on Wednesday the 20 April 2011 as turnover continued to be disappointing. Selling pressure on some blue chip stocks were subdued with buyers coming in. However, illiquid stocks continued to impress investors.

The All Share Price Index (ASPI) closed at 7,474.50 points, dropped 0.01% by 0.66 points and the Milanka Price Index (MPI) fell 0.11% by 7.63 points closing at 6,937.16 points. Total turnover was at Rs.1.88 billion (rose 34.5%) with a volume of 68.4 million shares changing hands (up by 33.6%). Foreign purchases rose 27.92% to Rs.82.88 million and foreign sales topped 37.83% to rs.126.8 million. Meanwhile, price to forward Earnings Ratio remained at 26.6 times.

The Bank, Finance and Insurance sector was the main contributor to the market turnover due to Central Finance (CFIN) with the sector index decreasing 0.81%. The share price of Central Finance (CFIN) has gained rapidly since previous week. The Diversified sector also contributed to the market turnover with sector index decreasing 0.04% due to Aitken Spence (SPEN). The company was the main contributor to the market turnover with a crossing of 1,000,000 shares at Rs.165.50. The share price increased by Rs.2.40 (1.45%) and closed at Rs.167.

Several other shares also crossed including 1.211 million shares of Aitken Spence Hotels (AHUN) via two crossings at Rs.95 per share and Ceylon Guardian Investment (GUAR) 52,000 shares at Rs.3 90 per share.

Investors continued to focus on illiquid stocks yet again as gains were witnessed in stocks such as Lake House Printers & Publishers (LPRT), Shaw Wallace & Hedges (SHAW), Arpico Finance (ARPI), Huejay International Investments (HUEJ), Printcare (CARE) and Gestetner of Ceylon (GEST). Free Lanka Capital Holdings (FLCH) has recorded a 189% growth in profits for Financial Year 2010/2011 Quarter 4 (31 December 2010 to 31 March 2011)
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Apr 20, 2011

Selling pressure weighs on Colombo Stock Indices




Colombo Stock Indices took a downturn amidst selling pressure creeping in on Tuesday the 19 April 2011. Profit taking was witnessed in the stocks which made gains in previous few weeks. Turnover also remained relatively low.

The All Share Price Index (ASPI) closed at 7,475.16 points, dipped 0.96% by 72.63 points and the Milanka Price Index (MPI) dropped 1.33% by 93.91 points closing below 7,000 points at 6,944.79 point during the day. Total turnover was at Rs.1.39 billion (fell 41.09%) with a total 51.22 million volume of shares changing hands (fell 53.97%). .Foreign purchases dropped 41.87% to Rs. 64.79 million and foreign sales also fell 88.97% Rs.92.02 million. Price to forward Earning Ratio (PER) depreciated by 1.12% to 26.6 times.

Several crossings recorded including 80,000 of Bairaha Farms (BFL) at Rs.480 per share and 1.75 million of John Keells Hotels (KHL) at Rs.17.60 per share.

The Diversified sector was the main contributor to the market turnover due to Aitken Spence (SPEN) and Free Lanka Capital Holdings (FLCH) with the sector index decreasing 0.81%. Aitken Spence (SPEN) was the main contributor to the market turnover with a crossing of 1,000,000 shares at Rs.165.50. The share price decreased by Rs.0.40 (0.24%) and closed at Rs.165.

The Bank, Finance & Insurance sector was the second main contributor to the market turnover , sector index decreased by 1.27% mainly due to Central Finance (CFIN).

Blue chip stocks continued to decline amidst dull foreign participation. Profit taking was witnessed in Bairaha Farms (BFL), and Brown & Company (BRWN). Renewed interest was witnessed in illiquid stocks such as Printcare (CARE) and Arpico Finance (ARPI).

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Apr 18, 2011

Slow start after holidays at Colombo Stock Exchange




Colombo Stock Indices failed to continue the momentum gathered before the holiday season amidst lackluster investor participation and decline in blue chip stocks on Monday the 18 April 2011. Even Free Lanka Capital Holdings (FLCH) which commenced trading after the IPO, gains were not up to expectations according to brokers. However, buying momentum may build up over the next few weeks in anticipation of strong earnings in Financial Year 2011, 1st Quarter.

The All Share Price Index (ASPI) closed at 7,547.79 points, dipped 0.36% by 27.07 points and the Milanka Price Index (MPI) further dropped 0.36% by 25.55 points closing at 7,038.70 points during the day. Total turnover was at Rs.2.37 billion (dropped 47.36%) with a total volume of 111.28 million shares changing hands (topped 183.65%). Foreign purchases fell 3.15% to Rs.111.46 million and foreign sales rose 227.88% to Rs.834.52 million. Price to forward Earnings Ratio (PER) was stable at 26.9 times.

A total of FLCH 89.28 million shares changed hands with an average price of Rs.5.90, contributing a total of Rs.524 million for market turnover. Meanwhile a 5.3 million FLCH shares were crossed at Rs.7 per share which was the only trade recorded to be at Rs.7 value of FLCH and another 4.7 million shares crossed at Rs.5.8 per share. Alufab (ALUF) also saw active trading, closing at Rs.97, topped Rs.20.40 or 26.6%. The stock exchange said a 10% price band has been imposed on the ALUF stock from April 19 to May 04.

The Bank, Finance & Insurance sector was the main contributor to the market turnover due to NDB Bank (NDB) with the sector index decreasing 0.20%. NDB Bank was the main contributor to the market turnover with three crossings of 4,282,200 shares at Rs.161.20. The share price increased by Rs.1.50 (0.91%) and closed at Rs.166.50. Foreign stake of the company decreased by 4,301,094 shares. The Diversified sector was the second main contributor to the market turnover sector index decreased by 0.14%. Free Lanka Capital Holdings (FLCH) commenced trading in the secondary market today and recorded a crossing of 5,319,148 shares at Rs.7. The share price increased by Rs.0.70 (14%) and closed at Rs.5.70. Short term rallies witnessed on certain stocks during the week before holidays, dried up as investors turned their focus to the IPO and some illiquid stocks.100,000 Lion Brewery (LION) shares crossed at Rs.250 per share.

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Apr 13, 2011

Colombo Stock Indices greet “Avurudu”




Colombo stock indices surged with the rise in Bukit Darah (BUKI) & Carsons Cumberbatch (CARS) on Tuesday the 12 April 2011. Most of the sector indices gained ahead of the Sinhala and Hindu New Year falling on the week. The momentum may continue after the holiday season according to brokers. All Share Price Index (ASPI) and Milanka Price Index (MPI) ended the short week gaining 2.17% and 0.61% respectively.

The All Share Price Index (ASPI) closed at 7,574.86 points, rose 1.62% by 120.64 points and the Milanka Price Index (MPI) was appreciated 0.60% by 42.38 points closing at 7,064.25 points. Total turnover was at Rs.4.51 billion (rose 191.26%) with a total volume of 39.2 million shares changing hands (up 30.2%). Foreign purchases dropped 68.66% to Rs.115 million and foreign sales fell 24.87% 254.5 million. Price to forward Earnings Ratio (PER) increased 1.51% to 26.9 times.

The Oil Palm sector was the main contributor to the market turnover due to Bukit Darah (BUKI) with the sector index increasing 3.41%. Bukit Darah (BUKI) was the main contributor to the market turnover with a crossing of 1,175,474 shares at Rs.1,203. The share price increased by Rs.46.40 (3.87%) and closed at Rs.1,249.90.

The Diversified sector was the second main contributor to the market turnover, sector index increased by 0.84%) due to Carsons Cumberbatch (CARS). The company recorded a crossing of 1,424,079 shares at Rs 662. The share price increased by Rs 7.20 (1.07%) and closed at Rs.662.

Both the Carson (CARS) and Bukit Darah (BUKI) transactions were in connection with the share transfers to be executed for the voluntary offers to be made to minority shareholders of the four Malaysian palm oil firms of the Carson (CARS) group, including Shalimar (SHAL), Good Hope (GOOD), Indo-Malay (INDO) and Selinsing (SELI) which Carson intends to delist after repurchase of shares. In return, existing minority shareholders have been offered shares in Carson Cumberbatch (CARS) and Bukit Darah (BUKI).

The positive momentum created over the last few days has triggered the investors to continue buying stocks such as Browns & Company (BRWN), Lion Brewery (LION), Commercial Bank (COMB) and Lanka Orix Leasing (LOLC).

Several other crossings were witnessed including 1 million Commercial Bank (COMB) shares via three crossings at Rs.275 per share, Lion Brewery (LION) 200,000 shares at Rs.250 per share through two crossings, Aitken Spence Hotels (AHUN) 220,000 shares at Rs.98 per share.

The Colombo bourse is closed for next three days of the week as Sri Lanka’ longest annual holiday falls to celebrate Sinhala and Tamil New Year.

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Apr 12, 2011

Short week starts with gains in Colombo Stocks



Continuation of momentum witnessed in the last couple of days assisted the Colombo stock indices to record marginal gains on a yet another thin- volume day on Monday the 11 April 2011. Foreign participation continued to be on the buying side, with some activity witnessed also during the day. However, some blue chip stocks faced a downturn amidst comparatively low activity.

The All Share Price Index (ASPI) closed at 7,454.22 points, increased 0.54% by 40.35 points and Milanka Price Index (MPI) appreciated just 0.01% by 0.65 points closing at 7,021.87 points during the day. Total turnover was at Rs.1.54 billion (dropped 5.57%) with a volume of 30.1 million shares changing hands (fell 1.05%). Foreign purchases rose 116.69% to Rs.367.19 million and foreign sales also topped 149.64% to close at Rs.338.78 million. However Price to Forward Earnings Ratio appreciated 0.76% to 26.5 times.

Bank, Finance & Insurance sector was the main contributor to the market turnover mainly due Commercial Bank (COMB) with the sector index decreasing 0.06%. The only crossing for the day, Commercial Bank (COMB) crossing of 1,000,000 shares at Rs.275 was the main contributor to the market turnover. The share price increased by Rs.0.40 (0.15%) and closed at Rs.271.

Beverage, Food & Tobacco was the second highest contributor to the market turnover due to Lion Brewery (LION) with the sector index increasing 0.56%. The stock which has been surging under low volume levels, attracted retail investors. Brown & Company (BRWN) continued to surge continuing the momentum from last week. The share price has increased 17.2% from the beginning of the last week. At the current market price, share is trading at a forward Price to forward Earnings Ratio of 6.74 times considering the estimated earnings for Financial Year 2010/2011.

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Apr 9, 2011

Positive end before Sinhala Tamil New Year Holiday Week



Ahead of the longest annual holiday season in Sri Lanka with the Sinhala Tamil New Year falling on coming week, Colombo indices surged with investor participation witnessed in selected small and mid cap stocks on Friday the 8 April 2011. Activity on blue chip counters was also witnessed while illiquid stocks affected the indices during the week. All Share Price Index (ASPI) gained 0.50% while Milanka Price Index declined by 0.05% for the week.

Colombo All Share Price Index (ASPI) closed at 7,413.87 points, rose 0.48% by 35.14 points and the Milanka Price Index (MPI) appreciated 0.17% by 11.89 points closing at 7,021.22 points during the day. Total turnover was at Rs.1.64 billion slightly dipped 0.31% with a total volume of 50.7 million shares changing hands (down 39.9%). Foreign purchases rose 35.24% to Rs.169.4 million and foreign sales also shot up 26.79% to Rs.135.71 million. However, the Price to forward Earnings Ratio (PER) appreciated 0.38% to 26.3 times.

Several crossings were done including Commercial Bank non-voting (COMB.X) 150,000 shares at Rs.175 per share, Royal Ceramics (RCL) 126,000 shares at Rs.159 per share, Citrus Leisure Warrant 18 (REEF.W18) 800,000 at Rs.26.50 per share.

Bank, Finance & Insurance sector was the main contributor to the market turnover mainly due to Lanka Orix Leasing (LOLC) and Central Finance (CFIN) with the sector index increasing 0.31%. Trading sector also contributed to the market turnover due to Brown & Company (BRWN) with the sector index increasing 3.12%. Brown & Company (BRWN) was the main contributor to the market turnover. The share price increased by Rs.18.10 (5.82%) and closed at Rs.329.

Profit taking was witnessed in Singalanka (SING) after the rapid gains made during the last couple of days. The share price increased by Rs. 0.20 (0.94%) in Dialog Axiata (DIAL) after the dividend announcement.

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Apr 8, 2011

Stabilization time at Colombo Stock Exchange




Colombo Stock Indices gained marginally amidst low turnover levels on Thursday the 7 April 2011. Institutional and high networth investor participation was witnessed during the day to a certain extent whilst the Milanka Price Index (MPI) was stagnant during the day and picked up towards the end due to appreciation of John Keells Holdings (JKH). Decreased volatility and steady interest on certain fundamentally strong stocks was an encouraging sign for the brokers.

The All Share Price Index (ASPI) closed at 7,378.73 points, rose 0.26% through 18.83 points and the Milanka Price Index (MPI) appreciated 0.18% through 12.90 points closing at 7,009.33 points during the day. Turnover recorded to be Rs.1.64 billion rupees (up 12.92%). A volume of 50.7 million shares changed hands (rose 31.95%). Foreign purchases were at Rs.125.29 million and foreign sales were at Rs.107.03 million. However, Price to Forward Earnings Ratio depreciated by 0.38% to 26.2 times.

Several crossings were done including 18,100 shares of Central Finance (CFIN) at Rs.1210 per share, 500,000 shares of Aitken Spence Hotel Holdings (AHUN) at Rs.95 per share, 120,100 shares of John Keells (JKH) at Rs.296.50, Diesel and Motor (DIMO) 32,000 shares at Rs.1,500 per share and Tokyo Cement Non Voting (TKYO.X) 1.15 million shares at Rs.49.30 per share.

Bank, Finance & Insurance sector was the main contributor to the market turnover mainly due to Central Finance (CFIN) with the sector index decreasing 0.08%. Diversified sector also contributed to the market turnover due to John Keells Holdings (JKH) with the sector index increasing 0.04%.

The share price of John Keells Holding (JKH) gained Rs.1.40 (0.51%) and closed at Rs.298. Tokyo Cement Non-voting (TKYO.X) was the main contributor to the market turnover with a crossing of 1,150,000 shares at Rs.48.50. The share price increased by Rs.2.50 (5.39%) and closed at Rs.49.30. The share price of Tokyo Cement Voting (TKYO) increased by Rs1.40 (2.12%) and closed at Rs.67.50.

Trading sector was on the up with renewed interest shown in Brown & Company (BRWN). The share price increased by Rs.16.50 (7.89%) and closed at Rs.313.

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Apr 7, 2011

Colombo Stock Market takes a dip




Colombo Stock Indices declined amidst low turnover levels on Wednesday the 6 April 2011. With the festive season approaching activity levels are likely to be modest next week as well according to brokers. “Illiquid stocks are again affecting indices in the absence of robust investor participation” brokers further added.

The All Share Price Index (ASPI) closed at 7,359.90 points, dipped 0.14% by 10.12 points and Milanka Price Index (MPI) further dipped 0.37% by 25.85 points closing at 6,996.43 points. Total turnover was Rs.1.458 billion (fell 30.61%) with a volume of 38.45 million shares changing hands (dropped 23.57%). Foreign purchases fell 47.57% to Rs.130.23 million and foreign sales also dropped 52.39% to Rs.74.14 million. However, Price to forward Earnings Ratio (PER) was stable at 26.3 times.

Bank, Finance & Insurance sector was the main contributor to the market turnover mainly due to Central Finance (CFIN) with the sector index decreasing 0.33%. Hotels & Travel sector also contributed to the market turnover due to Citrus Leisure (REEF) with the sector index increasing 0.16%. Citrus Leisure (REEF) was the main contributor to the market turnover with a crossing of 866,000 shares at Rs.75. The share price increased by Rs.1.40 (1.86%) and closed at Rs.77. Interests were shown in illiquid stocks including Singalanka (SING) and Selinsing (SELI).

Additionally, 75,000 shares of Commercial Bank (COMB) crossed at Rs.270 per share.

Short term rally of poultry stocks was halted as profit taking crept in. Indices were volatile during early trading as investors struggled to determine the post sub-division price of HNB.

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Apr 6, 2011

Selected interest in Colombo Stocks




Interest was witnessed on selected counters such as blue chip stocks John Keells (JKH) and Distilleries (DIST) and the poultry stocks at Colombo Stock Exchange on Tuesday the 5 April 2011. “While these stocks recorded gains, other stocks declined although recording thin volumes.” Brokers added. Colombo Stock Indices gained during early trading and closed in red.

The All Share Price Index (ASPI) closed at 7,370.02 points, dipped 0.04% by 3.12 points and the Milanka Price Index (MPI) dropped 0.15% by 10.44 points closing at 7,022.28 during the day. Total Turnover recorded to be Rs.2.1 billion rose 55.06% with a total volume of 50.32 million shares changing hands (down 11.95%). Foreign purchases rose 31.02% to Rs.248.39 million and foreign sales dropped 75.28% to Rs.155.73 million. Price to forward Earnings Ratio (PER) was stable at 26.3 times.

However, net foreign buying was witnessed for four consecutive days, specially on John Keells (JKH), which is a good sign. Bank, Finance & Insurance sector was the main contributor to the market turnover mainly due to LB Finance (LFIN) with the sector index decreasing 0.11%. LB Finance (LFIN) was the main contributor to the market turnover with two crossings of 1,836,400 shares at Rs.175. The share price increased by Rs.4.90 (2.88%) and closed at Rs.175. Beverage, Food & Tobacco sector also contributed to the market turnover due to Bairaha Farms (BFL) and Distilleries (DIST) with the sector index increasing 1.01%. Bairaha Farms (BFL) continued to surge along with other poultry related stocks.

Several other crossings were recorded including 20,000 shares of Central Finance (CFIN) at Rs.1,249.90 per share and Aitken Spence (SPEN) 500,000 shares at Rs.165.00.

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Apr 5, 2011

Momentum passive at Colombo Stock Exchange



The momentum witnessed towards the latter part of the last week was passive at Colombo Bourse on Monday the 4 April 2011. All Share Price Index (ASPI) hardly survived in the positive

region and eventually finished in red. Milanka Price Index (MPI) was up with continued price gains in blue chip counters such as John Keells Holdings (JKH). However the volatility of prices was reduced which is a positive sign according to brokers. “If stability persists the turnover levels may increase gradually. The dream run of Guardian Capital continued.” Brokers further noted.

The All Share Price Index (ASPI) closed at 7,373.14 points; dipped 0.06% by 4.08 points and the Milanka Price Index (MPI) appreciated 0.12% by 8.09 points closing at 7,032.72 points, during the day. Total turnover was Rs.1.35 billion (fell 16.86%) with a volume of 44.94 million shares changing hands (dropped 51.65%). Foreign purchases dropped 28.7% to Rs.189.58 million and foreign sales also fell 14% to Rs.88.84 million. Price to forward Earnings Ratio (PER) was stable at 26.3 times.

A single crossing of John Keells Holdings (JKH) was recorded amounting to 82,000 shares at Rs.297.50 per share.Bank, Finance & Insurance sector was the main contributor to the market turnover mainly due to LB Finance (LFIN) and HDFC Bank (HDFC) with the sector index decreasing 0.23%.

PC House (PCH) was the main contributor to the market turnover. The share price increased by Rs 0.40 (2.05%) and closed at Rs.20. Manufacturing sector also contributed to the market turnover due to Ceylon Grain Elevators (GRAN) and Royal Ceramics (RCL) with the sector index decreasing 0.04%.

Renewed interest was witnessed in poultry industry related counters such as Ceylon Grain Elevators (GRAN), Bairaha Farms (BFL) and Three Acre Farms (TAFL).

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Apr 3, 2011

Investors rally up across the board in Colombo Stocks



Retail investors showed interest at Colombo Stocks across the board with freedom with the end of credit clearance on Friday the 1 April 2011. Blue chip counters listed in Colombo continued to surge which helped indices to gain. All the sector indices gained whilst All Share Price Index (ASPI) and Milanka Price Index (MPI) gained 1.89% and 2.73% respectively for the week. However, relatively low turnover levels suggest that it may be challenging to continue the momentum next week. Bank, Finance & Insurance sector was the main contributor to the market turnover mainly due to Central Finance (CFIN) with the sector index increasing 1.63%.

The All Share Price Index (ASPI) closed at 7,377.22 points, rose 2.09% by 151.10 points and the Milanka Price Index (MPI) topped 2.18% by 149.89 points to close at 7,024.63 points. Total turnover was Rs.1.63 billion dipped 25.59% with a total volume of 92.97 million shares changing hands (up 49.75%). Foreign purchases fell 66.5% to Rs.265.88 million and foreign sales slightly appreciated to Rs.103.3 million during the day. Price to forward Earnings Ratio (PER) rose 2.33% to 26.3 times.

Distilleries (DIST) was the main contributor to the market turnover with a crossing of 800,000 shares at Rs.180. The share price increased by Rs.2.30 (1.28%) and closed at Rs.182. Foreign holding of the company increased by 766,700 shares.

Manufacturing sector also contributed to the market turnover due to Ceylon Grain Elevators (GRAN) and Piramal Glass (GLAS) with the sector index increasing 2.52%.

DFCC Bank(DFCC) announced an interim dividend of Rs.7 per share. The share price of the bank increased by Rs.10.80 (1.11%). Lanka Floortiles (TILE) also announced an interim dividend of Rs.2.50 per share.

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Apr 1, 2011

Another financial year ends in green at Colombo Stock Exchange



As expected, blue chip counters recorded gains pushing the Milanka Price Index (MPI) up on Thursday the 31 March 2011. However, the momentum may slow down with the end of financial year according to brokers. Illiquid small and mid cap counters might get attention with the end of the deadline to reduce credit at broking houses.

The All Share Price Index (ASPI) closed at 7,226.12 points, rose 0.46% by 33.40 points and the Milanka Price Index (MPI) increased 0.92% by 62.96 points closing at 6,874.74 points during the day. A total volume of 62.08 million shares changed hands topped 74.37% with a total turnover at Rs.2.19 billion (rose (85.5%). Foreign purchases increased 495.21% to Rs.793.71 million and foreign sales dipped 55.34% to Rs.101.31 million. Price to forward Earnings Ratio (PER) rose 0.39% to 25.7 times.

Another crossing of Richard Pieris (RICH) was done amounting to 2 ,170,700 shares at Rs.13.50 per share.

Bank, Finance & Insurance sector was the main contributor to the market turnover due to Sampath Bank (SAMP), Central Finance (CFIN), Union Bank (UBC) and HDFC Bank (HDFC) with the sector index increasing 1.21%.

Sampath Bank (SAMP) was the main contributor to the market turnover with five crossings 2.14 million shares at Rs.290 per share and the share price increased by Rs.2.10 (0.73%) and closed at Rs.287. Foreign holding of the company increased by 2,302,000 shares. Diversified sector also contributed to the market turnover due to John Keells Holdings (JKH), with the sector index increasing 0.74%.

Profit taking was witnessed in Ceylon Cold Stores (CCS) to a certain extent after making substantial gains over the last couple of days. Overseas Realty (OSEA) announced a final dividend of Rs.0.30 per share.

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Latter half lift at Colombo Stock Exchange



A buying session witnessed towards the end could not recover the initial dip in Colombo stock indices on Wednesday the 30 March 2011. “Conditions are still lackluster as expected. However, the buying momentum witnessed in the latter half is expected to continue tomorrow focusing on blue chip counters.” Brokers said.

The All Share Price Index (ASPI) closed at 7,192.72 points, down 0.21% by 15.14 points and the Milanka Price Index fell 0.08% by 5.62 points closing at 6,811.78 points. Total turnover recorded to be at Rs.1.18 billion (fell 63.57%) and a total volume of 35.6 million shares changed hands. Foreign purchase fell 56.12% to Rs.133.34 million and foreign sales dipped 83.64% to Rs.226.83 million. Price to forward Earnings Ratio (PER) fell 0.39% to 25.6 times.

Several crossing were done including HNB Bank non-voting (HNB.X) 500,000 via three crossings at Rs.205, Colombo Pharmacy 6,000 at Rs.3,600 per share.

Bank, Finance & Insurance sector was the main contributor to the market turnover due to Central Finance (CFIN), Union Bank (UBC) and HNB Bank non-voting (HNB.X)) with the sector index decreasing 0.16%.

Central Finance (CFIN) was the main contributor to the market turnover as retail investors renewed their interest on the stock. The share price increased by Rs.74.10 (6.56%) and closed at Rs.1,210. Union Bank (UBC) saw a dip today after making substantial gains on the first day of trading. John Keells (JKH) made gains to boost Milanka Price Index (MPI) to a certain extent.Manufacturing sector also contributed to the market turnover due to Royal Ceramics (RCL), with the sector index decreasing 0.56%.

People’s Merchant Bank (PMB) attracted investors after announcement about an acquisition of one of its subsidiaries, People’s Merchant Finance (PMF) by Capital Alliance Holdings which is still subject to regulatory approval. Investors reacted positively to Janashakthi Insurance (JINS) after an interim dividend announcement of Rs.1 per share.

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Union Bank IPO gains below expectations at Colombo Stock Exchange



Colombo Stock Indices were volatile throughout the trading hours on Tuesday the 29 March 2011 and closed in red with selling pressure creeping in. Union Bank of Colombo (UBC) which started to trade on trading floor followed by its Initial Public offering attracted investors although a lower price appreciation was witnessed than anticipated, especially considering its record breaking oversubscription.

The All Share Price Index (ASPI) closed at 7,207.86 points, down 0.03% by 2.23 points and the Milanka Price Index fell 0.31% through 21.01 points closing at 6,817.40 points during the day. Total turnover recorded to be Rs.3.23 billion (rose 100.96%) topped by 21 crossings in the market with eight crossings of Commercial Bank (COMB) and seven of Union Bank of Colombo (UBC). A total volume of 56.72 million shares changed hands (rose 14.57%) whilst foreign purchases rose 105.97% to Rs.303.9 million and foreign sales also topped 512.67% to Rs.1.386 billion. Prcie to forward earnings Ratio (PER) declined by 0.39% to 25.7 times.

Bank, Finance & Insurance sector was the main contributor to the market turnover (due to Commercial Bank & Union Bank) with the sector index increasing 0.54%. Commercial bank (COMB) was the main contributor to the market turnover with three crossings (4,410,500 shares at Rs.270). The share price decreased by Rs.0.90 (0.33%) and closed at Rs.268.10. Foreign holding of the company decreased by 4,428,200 shares.

Union Bank (UBC) commenced trading in the secondary market today with three crossings (1,500,000 shares at Rs.42 and 765,000 shares at Rs.31. The share price increased by Rs.13.60 (54.4%) and closed at Rs.38.60. Diversified sector also contributed to the market turnover due to Hayleys, with the sector index decreasing 0.17%.Union Bank of Colombo (UBC) contributed to market turnover with Rs.715.7 million while several other crossings were also done including Asian Alliance Insurance (AAIC) 1.2 million shares at Rs.1 90 per share and Hayleys 546,200 shares at Rs.380.

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