Sri Lanka Equity Analytics

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May 5, 2011

Colombo Stocks continue to dip

Colombo Stock Indices dipped further continuing the selling momentum. However, Royal Ceramics (RCL) and AHOT Properties (AHPL) attracted investors despite the negative sentiment. Foreigners turned out to be net buyers during the day.

Colombo's All Share Price Index (ASPI) closed at 7,213.33 points falling by 57.4 points (fell 0.79%) and the Milanka Price Index (MPI) of more liquid stocks closed 43 point down (fell 0.64%) at 6,691.33 points. Total of 64.9 million shares changed hands (up 72.02%) reporting a Rs.1.8 billion turnover (fell 68.29%). Foreign purchases fell 91.01% to Rs.224.08 million and foreign sales dropped 16.97% to Rs.75.4 million. Price to forward Earnings Ratio (PER) fell 0.77% to 25.7 times.

Another crossing of AHOT Properties (AHPL) was witnessed with 1 million shares at Rs.188 per share.

The Manufacturing sector was the main contributor to the market turnover mainly due to Royal Ceramics (RCL) with the sector index increasing 0.30%. Royal Ceramics (RCL) was the main contributor to the market turnover with a crossing 1 million shares at Rs.165. The share price increased by Rs.8.40 (5.56%) and closed at Rs.158.

The Bank, Finance & Insurance sector also contributed to the market turnover; sector index decreasing 0.63%) due to SMB Leasing (SEMB) and HDFC Bank (HDFC) with speculation about share splits. Foreign holding of Distilleries (DIST) increased by 640,000 shares. However, the share price decreased by Rs.0.70 (0.39%) and closed at Rs.180.


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