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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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