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Jul 22, 2011

Colombo Stock Indices close on a mixed note


Colombo Stock Indices fluctuated during market hours on Wednesday the 20 July 2011 to close All Share Price Index (ASPI) in green and Milanka Price Index (MPI) in red. Crossings witnessed in selected counters in Diversified sector and Hotels & Travels sector dominated the market.

The All Share Price Index (ASPI) closed at 6,682.46 points, rose 0.10% by 6.76 points and the Milanka Price Index (MPI) dipped 0.29% by 18.15 points to close at 6,180.05 points. Turnover was Rs.1.38 billion fell 18.05% with a volume of 46.24 million shares changing hands (tumbled 19.84%). Foreign purchases rose 66.03% to Rs.91.76 million and foreign sales dipped 10.41% to Rs.361.11 million. Price to forward Earnings Ratio (PER) remained stable at 23 times.

However, dull retail investor participation was witnessed yet again. Diversified sector was the main contributor to the market turnover due to John Keells Holdings (JKH) and Aitken Spence (SPEN), while the sector index increased by 0.27%. John Keells Holdings (JKH) was the main contributor to the market turnover with a crossing of 500,000 shares at Rs.202. The share price increased by Rs.0.60 (0.30%) and closed at Rs.202. Foreign stake of the company decreased by 889,800 shares.

Hotels & Travels sector also contributed significantly to the market turnover due to Aitken Spence Hotels (AHUN) and AHOT Properties (AHPL). The sector index increased 0.24%. The share price of Aitken Spence Hotels (AHUN) remained at Rs.74. Renewed interest was witnessed in Hotel Sigiriya (HSIG) while interest continued in Central Finance (CFIN).

Several crossings were done including 1.275 million share of Aitken Spence Hotels (AHUN) at Rs.75 per share via two crossings, 1 million shares of Asian Hotels and Properties (AHOT) at Rs.90.50, 400,000 shares of Aitken Spence (SPEN) at Rs.141 and 20,000 shares of Bukit Darah (BUKI) at Rs.1100 per share.

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