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May 17, 2011

Short week starts with gains at Colombo Bourse



Colombo Stock Indices improved supported by the price appreciations of HNB bank and John Keells Holdings (JKH) and the continuation of gains of some selected stocks. Positive interim results also seem to have spurred the momentum.

The All Share Price Index (ASPI) closed at 7,358.69 points rose 0.53% by 38.75 points and the Milanka Price Index (MPI) up by 0.69% by 46.86 points to close at 6,816.22 points. Turnover was at Rs.2 billion (up 24.45%) with a volume of 97.14 million shares changing hands (up 22.74%). Foreign purchases 633.99% to Rs.613.87 million and foreign sales dropped 40.16% to Rs.57.49 million shares. Price to forward Earnings Ratio (PER) rose 0.53% to 26.3 times.

Alliance Finance (ALLI) was the top gainer of the day with its share up 552.3 rupees to 1435.30 while Finlays Colombo (JFIN) was the top loser, its share down 70 rupees to 211 .00. Housing Development and Finance (HDFC) Bank 29,900 shares crossed at Rs.1,550 per share.

The Bank, Finance & Insurance sector was the main contributor to the market turnover mainly due to HNB bank and Nation Lanka Finance (CSF), while the sector index increased 1.37%. HNB bank was the main contributor to the market turnover. The share price increased by Rs.10.10 (4.59%) and closed at Rs.230. Foreign holding of the company increased by 2,275,300 shares. The Diversified sector also contributed to the market turnover due to John Keells Holdings (JKH). The sector index decreased 0.61%.


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