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May 25, 2011

Indices post a mixed note at Colombo

The Colombo Stock indices started to gain during early trading and dropped gradually to close on a mixed note. Milanka Price Index closed in green with the price appreciation of John Keells Holdings (JKH) & Hemas Holdings (HHL). All Share Price Index (ASPI) ended in red while Colombo Land (CLND) came under the price brand.

The All Share Price Index (ASPI) closed at 7,431.97 points, dipped 0.10% by 7.18 points and the Milanka Price Index (MPI) topped 0.06% by 4.22 points to close at 6,857.61 points during the day. Total turnover was at Rs.2.52 billion (down 14.89%) with a volume of 115.53 million shares changing hands. Foreign purchases dipped 65.57% to Rs.121.12 million and foreign sales fell 31.85% to Rs.261.8 million. Price to forward Earnings Ratio (PER) dipped 0.11% to 26.57 times.

Several crossings were done including Aitken Spence Hotels (AHUN) 1 million shares at Rs.88.50, Ceylon Guardian (GUAR) 150,000 shares at Rs.150 and Asian Alliance (AAIC) 400,000 shares at Rs.130 per share via two crossings.

The Bank, Finance & Insurance sector was the main contributor to the market turnover due to Central Finance (CFIN) & Nation Lanka Finance (CSF), while the sector index decreased by 0.03%. The Land & Property sector also contributed significantly to the market turnover with the sector index gaining 4.04%. Colombo Land (CLND) continued to be the main contributor to the market turnover. The share price increased by Rs.3.10 (9.75%) and closed at Rs.34.90. Central Finance (CFIN), Colombo Land (CFIN) and Nation Lanka Finance (CSF) continued to record rapid gains while price drops in illiquid stocks weighed on the ASPI mostly.

Watawala Plantations announced a final dividend of Rs.0.85 per share.


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