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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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