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May 14, 2011

All Share Price Index closes flat for the week

Colombo All Share Price Index (ASPI) gained only 0.01% while Milanka Price Index (MPI) gained 0.48% for the week. Although there is still much speculation in the market, increased retail interest on certain fundamentally strong stocks, witnessed in the form of strong order books in such counters, indicate the possibility of a gradual market recovery.

The All Share Price Index (ASPI) closed at 7,319.94 points rose 0.26% by 19.12 points and the Milanka Price Index (MPI) dipped 0.11% by 7.33 points to close at 6,769.36 points during the day. Total turnover was Rs.1.63 billion dipped 19.64% with a volume of 79.14 million shares changing hands (down 12.89%). Foreign purchases dropped 46.05% to Rs.83.63 million and foreign sales fell 65.53% to Rs.96 million. Price to forward Earnings Ratio (PER) rose 0.31% to 26.2 times.

The Bank, Finance & Insurance sector was the main contributor to the market turnover mainly due to Nation Lanka (CSF) and Central Finance (CFIN), while the sector index decreased 0.12%. Nation Lanka (CSF) was the main contributor to the market turnover for the second consecutive day. The share price increased by Rs.2.50 (13.1%) and closed at Rs.21.60.

The Hotels and Travels sector also contributed to the market turnover due to Citrus Leisure (REEF) and Marawila Resorts (MARA). The sector index increased 0.14%. Dipped Products proposed a final dividend of Rs 1.50 per share.


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