Sri Lanka Equity Analytics

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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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