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May 9, 2011

Week ends on a dull note at Colombo Bourse



Colombo All Share Price Index (ASPI) and Milanka Price Index (MPI) declined 0.51% and 1.26% respectively during the week ended. Positive momentum seen over the last 2 days of the week till Thursday lost steam on Friday the 6 May 2011.

The All Share Price Index (ASPI) closed at 7,319.15 points, rose 0.03% by 1.98 points and the Milanka Price Index (MPI) fell 0.16% by 10.47 points to close at 6,736.88 points. Total turnover was Rs.1.72 billion (increased 5.96%) and a total volume of 78.7 million (rose 68.71%) shares changed hands. Foreign purchases rose Rs.146.8 million (topped 78.44%) and foreign sales Rs.128.94 million (rose 74.79%). Price to forward Earnings Ratio (PER) remained at 26.1 times.

Several crossings were done including Sampath Bank (SAMP) 402,484 shares at Rs.277, Ceylon Guardian Investment (GUAR) 100,000 at Rs.380 and John Keels Holdings (JKH) 100,000 shares at Rs.280.

Positive earnings results may boost indices next week according to brokers. The Bank, Finance & Insurance sector was the main contributor to the market turnover mainly due to Sampath Bank (SAMP) and Central Finance (CFIN) with the sector index increasing 0.06%. Brown and Co. (BRWN) was the main contributor to the market turnover. The share price increased by Rs.9.30 (2.67%) and closed at Rs.357.10.

The Manufacturing sector also contributed to the market turnover sector index increasing 0.35%. Hatton National Bank (HNB) announced a rights issue of 1 for every 6 shares held. The Voting and Non Voting rights will be priced at Rs.219.50 and Rs.119.50 respectively.

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