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May 14, 2011

Colombo Stock Market turns green



Both Colombo Stock indices continued to stay green throughout the day while the Milanka Price Index (MPI) gained higher than the All Share Price Index (ASPI), helped by John Keells (JKH). Retail interest was witnessed with the price increase in a number of low value counters.

All Share Price Index (ASPI) closed at 7,300.82 points, rose 0.28% by 20.16 points the Milanka Price Index (MPI) topped 0.81% by 54.20 points to close at 6,776.69 points during market hours. Total turnover was Rs.2 billion (increased 18.01%) with a volume of 90.85 million shares changing hands (up 80.7%). Foreign purchases dipped to Rs.155 million (down 50.3%) and foreign sales rose 32.25% to Rs.278.7 million. Price to forward Earnings Ratio (PER) increased 0.27% to 26.1 times.

Commercial Bank (COMB) 500,000 shares crossed at Rs.260 and The Lion Brewery Ceylon PLC (LION) 100,000 shares crossed at Rs.235 per share.

The Bank, Finance & Insurance sector was the main contributor to the market turnover mainly due to Nation Lanka (CSF), Central Finance (CFIN) and Commercial Bank (COMB), while the sector index increased 0.64%. Nation Lanka (CSF) was the main contributor to the market turnover. The share price increased by Rs.1.60 (9.14%) and closed at Rs.19.30.

Following the announcement of a proposed subdivision which will be issued on the basis of 2 shares for 1 share held, Tea Smallholder Factories (TSML) share price increased by 14.86%. In addition, John Keells Ltd. (JKL) proposed a subdivision of two (2) for every one (1) share held. C W Mackie (CWM) proposed an interim dividend of Rs.1 per share.

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