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Jun 12, 2011

Interest in penny stocks at Colombo



Colombo Stock Indices continued with the negative momentum to close in red. Turnover was lifted by the Power & Energy sector by Panasian Power PLC (PAP).

Retail investors also showed interest in penny stocks such as Blue Diamond Jewellery Worldwide PLC (BLUE) and SMB Leasing PLC (SEMB) while most blue chip counters failed to gain amidst low investor participation.

The All Share Price Index (ASPI) closed at 7,355.43 points, fell 0.68% by 50.59 points and the Milanka Price Index (ASPI) came down 0.26% by 17.92 points to close at 6,839.48 points during the day.

Turnover was Rs.4.94 billion (up 19.18%) with a volume of 611.5 million (rose 234.20%) shares changing hands. Foreign purchases fell 37.72% to Rs.200.7 million and foreign sales fell 48.39% to Rs.123.85 million. Price to forward Earnings Ratio (PER) 0.52% 24.8 times.

Power & Energy sector was the main contributor to the market turnover due to Pan Asian Power (PAP) & Vallibel Power Erathna (VPEL), while the sector index rose by 4.85%. Panasian Power (PAP) share price gained by Rs.3.70 (80.43%) and closed at Rs.8.30.

Panasian Power was the highest gainer and highest contributor to the day's turnover with 367.6 million shares done, generating 2.5 billion rupees. Initially, 76.64 million shares crossed at Rs.6 per share, at 10:31 am whilst another 4.1 million and 14.9 million shares crossed around 11.40 a.m. at Rs.7.40 and Rs.7.60 respectively. Thereafter another 11.8 million shares and 3.08 million shares crossed at Rs.8 per share and the last crossing was done at Rs.8.10 per share with a block of 4.08 million shares. The share got caught to 10% price band for next five days.

Emagewize, a firm controlled by Dilith Jayawwera, was the buyer of Panasian Power for Rs.6.00 a share.

Banking, Finance and Insurance sector also contributed significantly to the market turnover with the sector index decreasing 1.06%. Investors continued profit taking in Colombo Land (CLND) after the rapid gains during last week. Sunshine Holdings (SUN) announced a final dividend of Rs.0.30 per share.

Several crossings were done including LB Finance PLC (LFIN) 500,000 shares at Rs.190, Citrus Leisure PLC Warrant 19 (REEF.W19) 1,271,120 shares at Rs.20.30 and Citrus Leisure PLC Warrant 17(REEF.W17 ) 635,560 shares at Rs.33.10 per share.

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Another week of decline at Colombo




Both Colombo All Share Price Index (ASPI) and Milanka Price Index (MPI) fell 0.72% and 0.26% during the week, despite the market closing on a green note. The indices were mostly on the up throughout the day helped by blue chips according to brokers. Retail interest continued to feature prominently during the week.

The All Share Price Index (ASPI) closed at 7,406.02 points, rose 0.41% by 30.12 points and the Milanka Price Index (MPI) topped 0.11% by 7.43 points to close at 6,857.40 points.

Turnover was at Rs.4.14 billion (fell 17.63%) with a volume of 182.9 million shares changing hands (up 11.16%). Foreign purchases dropped 5.26% to Rs.322.26 million and foreign sales rose 0.89% to Rs.239.9 million. Price to forward Earnings Ratio (PER) rose 0.4% to Rs.24.9 times.

Land and Property sector was the main contributor to the market turnover due to Colombo Land (CLND), while the sector index rose by 3.54%. Colombo Land (CLND) price peaked at Rs.54.90 and closed at Rs.50 as profit taking continued.

In mid May 2011, a 20 percent stake in Colombo Land (CLND) was sold by a founder Singapore based shareholder to Imagewise, a controlling shareholder of listed Citrus Leisure (REEF), and Kalpitiya Resorts, a subsidiary. Colombo Land said in a stock exchange filing that on Thursday Imagewise sold 14.5 million shares of its shares at 43.50 rupees and Kalpitiya Beach Resort bought 20.35 million shares at an average price of 43.59 rupees. The company's board has resigned with N H Godahewa replacing R R Tudawe as chairman and appointing Imagewise Director Dilith Jayaweera to board.

Banking, Finance and Insurance sector also contributed significantly to the market turnover helped by Nation Lanka (CSF) and Commercial Credit (COCR). The index rose 0.62%. Nation Lanka (CSF) price increased 3.73% and closed at Rs.30.50 while Commercial Credit (COCR) price increased 21.28% and closed at Rs.38.90. 1million shares of Royal Ceramics (RCL) changes hands today at Rs.165.

Prices of most Vaillibel One (IPO of which is scheduled shortly) related counters saw price increases during the day. Another crossing of 103,700 shares of Commercial Bank (COMB) was witnessed at Rs.270.

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Turnover soars at Colombo




Colombo Stock Indices continued to fall but the market turnover crossed Rs.5 billion, driven by the land and property sector. Profit taking was witnessed on the Nation Lanka (CSF) counter while speculative trading still dominates market activities.

The All Share Price Index (ASPI) closed at 7,375.90 points, dipped 0.15% by 11.25 points and the Milanka Price Index (MPI) fell 0.13% by 9.09 points to close at 6,849.97 points, during the day. Total turnover was Rs.5.03 billion rose (84.61%) with a volume of 164.6 million shares changing hands (topped 70.65%). Foreign purchases increase 43.03% Rs.340.17 million and foreign sales also rose 59.43% Rs.242.12 million. Price to forward Earnings Ratio (PER) dropped 6.1% to 24.8 times.

Land and Property sector was the main contributor to the market turnover (due to Colombo Land), while the sector index rose by 10.54%. 1.9 million shares of Colombo Land (CLND) changed hands at Rs.46.40. The share price increased 22.16% to close at Rs.46.

Banking, Finance and Insurance sector also contributed significantly to the market turnover helped by Janashakthi (JINS) and Nation Lanka Finance (CSF). The index declined 0.08%. Both Janashakthi (JINS) and Nation Lanka (CSF) prices declined 0.94% and 2.64% respectively. Hunter and Company (HUNT) proposed a first and final dividend of Rs1.50 per share.

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Janashakthi Insurance emerges as the top traded counter at Bourse



The Colombo Stock Market, despite starting off for the day on a positive note, lost ground during the middle hours of trading, ending up on a mixed note recording a dip of 30.9 points in the All Share Price Index (ASPI). Retail participation was prominent during today’s trading, where Janashakthi Insurance (JINS) emerged as the top traded counter, contributing circa 12.5% of the day’s turnover on the back of retail and high net worth participation. The counter saw a block of shares counting to 2 millionn crossed off at Rs.20.10. Mixed investor interest was evident in Central Finance Company (CFIN), where the counter saw two blocks of 12,000 and 31,500 shares crossed at a price of Rs.1,670.00 and Rs.1600.00 respectively. Meanwhile, Nation Lanka Finance (CSF) along with Colombo Land & Development Company (CLND) grabbed retail and high net worth interest during trading. Simultaneously Laugfs Gas Limited (PGP) was found amongst the retailer’s favourite picks list.

The All Share Price Index (ASPI) dipped 30.9 points to close at 7,387.2 points (-0.4%), whilst the Milanka Price Index (MPI) gained 5.5 points to close at 6,859.1 points (0.1%). The total turnover was Rs.2.72 billion (fell 21.6%) whilst the volume traded for the day was 96.36 million (fell 4%). Foreign purchases fell 0.2% to Rs.237.8 million and foreign sales fell 67.9% to Rs.151.9 million.

Top traded counters were Janashakthi Insurance (JINS) Rs.340.7 million, Nation Lanka Finance (CSF) Rs.313.5 million, Colombo Land & Development Company (CLND) Rs.293.6 million, Central Finance Company (CFIN) Rs.169.4 million and Laugfs Gas Limited (LGL) Rs.117 million.

Commercial Credit (COCR), which began trading with a reference price of Rs.25.40, was the day's top gainer, shooting up to Rs.45 before closing at Rs.33, up Rs.7.60 or almost 30% with just over 3 million shares changing hands.

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Jun 4, 2011

Speculation rules yet again at Colombo



The market kicked off on a high note on Tuesday the 31 May 2011, yet again to end in red, as retail speculators continued to dominate the market. Nation Lanka (CSF) continued its streak of being the largest contributor to the turnover, while Singer Sri Lanka (SINS) also continued to be on the incline.

The All Share Price Index (ASPI) closed at 7,418.07 points, dipped 0.67% by 50.34 points and the Milanka Price Index (MPI) fell 0.18% by 12.68 points to close at 6,853.61 points. Turnover was Rs.3.51 billion (rose 12.35%) with a volume of 101.2 million shares changing hands (down 28.64%). Foreign purchases rose 57.92% to Rs.238.34 million and foreign sales also appreciated 49.5% to Rs.472.76 million. However price to forward Earnings Ratio (PER) decreased 0.79% to 26.5 times.

Bank, Finance & Insurance sector was the main contributor to the market turnover due to Nation Lanka (CSF) and LB Finance (LFIN), while the sector index decreased by 0.87%. Trading sector also contributed significantly to the market turnover helped by Singer Sri Lanka (SINS). The index gained 4.64%. Nation Lanka Finance (CSF) gained Rs.2.50 (8.47%) to close at Rs.31.90 while Singer Sri Lanka (SINS) gained Rs.20.10 (15.3%), and closed at Rs.149.

Several Crossings were done including Lion Brewery (LION) 850,000 shares at Rs.230 via three crossings, Ceylon Tobacco Company (CTC) 469,500 shares at Rs. 375 via two crossings and LB Finance (LFIN) 110,000 shares at Rs.196.50 per share.

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Retail Speculators Dominate at Colombo



Although both Colombo Stock indices started on a positive note, Milanka Price Index (MPI) slipped as the day progressed to close lower in a market still dominated by retail speculation. Nation Lanka Finance (CSF) was the top turnover contributor for the second consecutive trading day.

The All Share Price Index (ASPI) closed at 7,468.41 points, topped 0.12% rising by 8.83 points the Milanka Price Index (MPI) was down 0.13% by 9.25 points to close at 6,866.29 points. Turnover was at Rs. 3.12 billion (rose 31.38%), with a volume 141.83 million shares changing hands. Foreign purchases declined 25.08% to Rs.150.92 million and foreign sales topped 115.17% to Rs.316.23 million. Price to forward Earnings Ratio (PER) rose 0.15% to 26.7 times.

Bank, Finance & Insurance sector was the main contributor to the market turnover due to Nation Lanka (CSF) and Janashakthi Insurance (JINS), while the sector index increased by 2.24%. Trading sector also contributed significantly to the market turnover helped by Singer Sri Lanka (SINS).

The Multi Finance Company, which began trading Monday, was the top gainer of the day and closed up Rs.15 or 106.08% at Rs.30.50. The share opened at Rs.35 and hit a high of Rs.65.

Capital Development and Investment Company shot up by Rs.303.10 by almost 75% and ended at Rs.707.30 getting caught up with 10% Price Band.

Nation Lanka Finance (CSF) gained Rs.2.10 (7.66%) to close at Rs.29.20 while Janashakthi Insurance (JINS) closed at Rs.20.20, having gained Rs.1.80 (9.42%).

Several Crossings were done including Singer Sri Lanka (SINS) 530,000 at Rs.122 via three crossings, Diesel and Motor Engineering (DIMO) 100,000 shares at Rs.1,645 and Cargo Boat (CABO) 400,000 shares at Rs.138.

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