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May 27, 2011

Small and mid caps dominate Colombo Bourse




Colombo’s Both stock indices edged slightly up towards the end of trading. The pending court case seems to have revived interest among the investors of Touchwood (TOUCH) while interest of speculative investors was seen on Colombo Land (CLND).

The All Share Price Index (ASPI) closed at 7,446.69, topped 0.20% by 14.72 points and the Milanka Price Index appreciated 0.30% by 20.84 points to close at 6,878.45 during the day. Turnover was Rs.4 billion (rose 59.93%) with a volume of 220.5 million shares changing hands (up 90.85%). Foreign purchases rose 134.86% to Rs.284.4 million and foreign sales also rose 19.44% to Rs.312.72 million. Price to forward Earnings Ratio (PER) remained steady at 26.6 times.

Several crossings were recorded during the day including 4.05 million shares of Colombo Land (CLND) at Rs.38.30, John Keells Holdings (JKH) 495,900 shares at Rs.298 via two crossings and another 409,900 shares at Rs.301 with 579,400 Royal Ceramics shares at Rs.155 per share.

Land and Property sector was the main contributor to the market turnover due to Colombo Land (CLND), while the sector index increased by 3.11%. Colombo Land (CLND) was the highest contributor to the

market turnover and closed at Rs.38.30. Commercial Bank (COMB) announced a rights issue and a subdivision. Rights is to be issued on the basis of 1 for 7 shares at an issue price of Rs.181.65 per share (Voting) and Rs.130.13 per share (Non-voting). The Voting share closed at Rs.263.10 while the Non-voting share closed at Rs.191.50 today.

Odel (ODEL) and Chemanex PLC (CHMX) announced final dividends of Rs 0.25 per share and Rs1.00 per share respectively while Kotagala Plantations proposed an interim dividend of Rs.5.00 per share.

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