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May 27, 2011

Retailers Drive Turnover at Colombo Bourse

Colombo Both Indices declined compared to last week, with All Share Price Index (ASPI) and Milanka Price Index (MPI) falling 0.27% and 0.06% respectively. However, the market witnessed a higher average turnover compared to last week. Market closed on a green note on Friday the 27 May 2011, mainly driven by retail and speculative investors.

The All Share Price Index (ASPI) closed at 7,459.58 points, topped 0.54% by 40.14 points and the Milanka Price Index (MPI) rose 0.15% by 10.06 points to close at 6,875.54 points, during the day. Total turnover was at Rs.2.37 billion (fell 34.18%) with a volume of 103.6 million shares changing hands (down 38.02%). Foreign purchases fell 26.68% to Rs.201.44 million and foreign sales dropped 36.94% to Rs.146.9 million. Price to forward Earnings Ratio (PER) rose 0.64% to 26.7 times.

Highest gainer for the day was NDB Bank’s investment arm Capital Development and Investment Company PLC (CDIC) became the highest gainer at Colombo Bourse reaching over 49.98% previous day. The share price surged by Rs.134.70 to close at Rs.404.20 and a total of 26,500 shares changed hands during the market hours.

Swarnamahal Financial Services (SFS), which was listed at Rs.11.40 and hit Rs.100 when it began trading Thursday but closed at Rs.45.

Bank, Finance & Insurance sector was the main contributor to the market turnover due to Nation Lanka (CSF), while the sector index increased by 1.41%. Hotel and Travel sector also contributed significantly to the market turnover helped by Ruhunu Hotels (RHTL). Nation Lanka Finance (CSF) was the main contributor to the market turnover. The share price increased by Rs 3.50 (14.60%) and closed at Rs.28.30.


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