Sri Lanka Equity Analytics

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Jun 4, 2011

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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