Sri Lanka Equity Analytics

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May 5, 2011

Colombo Stock Indices close negative again

Colombo Stock Indices closed red amid low trade volumes while the turnover received a boost from oil palm sector transactions. The new direction issued on the limits of margin trading would also have contributed to the lackluster performance.

The All Share Price Index (ASPI) closed at 7,270.67 points, dipped 1.17% by 86.30 points and the Milanka Price Index (MPI) dropped 1.30% by 88.44 points closing at 6,734.33 points during the day. Turnover was at Rs.5.7 billion (rose 191.99%) with a volume of 37.7 million shares changing hands (fell 27.16%). Foreign purchases rose 293.3% to Rs.2.4 billion and foreign sales dropped 88.32% to Rs.90.8 million. Meanwhile Price to forward Earnings Ratio dipped 1.15% to 25.9 times.

The oil palm sector was the main contributor to the market turnover mainly due to The Indo Malay PLC (INDO) and Selinsing Company (SELI) with the sector index decreasing 2.07%. The Indo Malay PLC (INDO) was the main contributor to the market turnover with four crossings (1,707,112 shares at Rs.1,421). The share price increased by Rs.150 (13.64%) and closed at Rs.1,200.

The Bank, Finance & Insurance sector also contributed to the market turnover sector index decreasing 1.23%. Nuwara Eliya Hotels (NEH) announced an interim dividend of Rs.5 per share. Trans Asia Hotels (TRAN) also declared a first and final dividend of Rs.3 per share.


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