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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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