Sri Lanka Equity Analytics

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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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