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The All Share Price Index fell 12.60 points to 2,408.64 while the Milanka also ended down 16.57 points at 2,788.98.
Heavy trading reported in JKH & CIC. Market fell due to profit taking by retail investors.
DCSL closed LKR 80.25 (Down by 50 cents) JKH closed at LKR 100 (Up by 25 cents).
More quarterly company results can be expected coming week.
The All Share Price Index went up 14.85 points to 2,421.24 while the Milanka also ended strong up 12.68 points at 2,805.55.
Turnover was LKR 342,819,707.75.
Foreign investors are looking at stocks with strong fundamentals.
Shares of Equity One went up on speculative buying. Equity one shares closed at 33.75 (up by LKR 12).
Vallibel Power closed at LKR 4.60.
RENUKA CITY HOTELS LIMITED – DIVIDEND
Company ID:- RENUDate of Announcement:- 28 .Aug. 2008Rate of Dividend:- Rs.5.00 Per Share – First & Final DividendFinancial Year:- 2007/2008AGM:- 29. Sep .2008XD:- 30. Sep .2008Payment:- 07. Oct . 2008Share Transfer Book Open
CARGO BOAT DEVELOPMENT COMPANY LIMITED – DIVIDEND
Company ID:- CABODate of Announcement:- 28 .Aug. 2008Rate of Dividend:- Rs.1.00 Per Share – First & Final DividendFinancial Year:- 2007/2008AGM:- 29. Sep .2008XD:- 30. Sep .2008Payment:- 07. Oct . 2008Share Transfer Book Open
THE COLOMBO PHARMACY COMPANY PLC – DIVIDEND
Company ID:- PHARDate of Announcement:- 28 .Aug. 2008Rate of Dividend:- Rs.3.75 Per Share – Final DividendFinancial Year:- 2007/2008AGM:- 30. Sep .2008XD:- 02. Oct .2008Payment:- 08. Oct . 2008Share Transfer Book Open
LANKA ALUMINIUM INDUSTRIES PLC – DIVIDEND
Company ID:- LALUDate of Announcement:- 28 .Aug. 2008Rate of Dividend:- Rs.1.25 Per Share – Final DividendFinancial Year:- 2007/2008AGM:- 25. Sep .2008XD:- 26. Sep. 2008Payment:- 02. Oct . 2008Share Transfer Book Open
ACL PLASTIC PLC – DIVIDEND
Company ID:- APLADate of Announcement:- 28 .Aug. 2008Rate of Dividend:- Rs.0.75 Per Share – Interim DividendFinancial Year:- 2007/2008XD:- 15. Sep. 2008Payment:- 25. Sep . 2008Share Transfer Book Open
ALLIANCE FINANCE COMPANY PLC – DIVIDEND
Company ID:- ALLIDate of Announcement:- 28 .Aug. 2008Rate of Dividend:- Rs.4.00 Per Share – First & Final DividendFinancial Year:- 2007/2008AGM:- 24. Sep .2008XD:- 25. Sep. 2008Payment:- 29. Sep . 2008Share Transfer Book Open
KELANI CABLES PLC – DIVIDEND
Company ID:- KCABDate of Announcement:- 28 .Aug. 2008Rate of Dividend:- Rs.2.25 Per Share – Interim DividendFinancial Year:- 2007/2008XD:- 15. Sep. 2008Payment:- 25. Sep . 2008Share Transfer Book Open
Information – Colombo Stock Exchange.
The All Share Price Index closed up 2.39 points at 2,406.39 while the Milanka also ended positive up 8.55 points at 2,792.87.
Both Small & institutional investors actively participated. Heavy trading seen in AMW shares.
Turnover was LKR 491 Million.
There was also speculative trading in ‘small cap’ stocks like VALLIBEL POWER ERATHNA PLC
All share Index fell 5.63 points to 2404.00 while the more sensitive Milanka Index fell 19.28 points to 2784.32. Turnover was LKR 0.5 billion. A Dubai investor bought the controlling interest of Associated Motor Ways PLC.
SLT fell 75 cents & closed at 45.25.
Distilleries dropped to LKR 79.
Dialog Telekom closed flat at 11.50 rupees.
Currency 1 US$ = 108.25 LKR.
All Share Index closed 4.74 points lower at 2409.63 & Milanka Price Index closed the day 8.36 points lower at 2803.60.
Today the top gainer CFT closed the day at LKR 36.00. (up by LKR 8.75)
Dividend Announcements
Lanka Milk Food PLC – LKR 1.20 per share.
Central Industries PLC – LKR 4.50 per share.
Two Provincial Council Elections concluded on last Saturday. Ruling party won the majority of both councils.
I personally don’t expect big change in Colombo Stock Market direction due to this result.
The only risk is we may have more elections with this government victory. (Probably Snap General Election)
Below are the very basic of stock trading, what is it all about? Who are the parties involved in buying and selling stocks? How does it work? And how does it affect the economy? Read on and you will learn the core of stock market…
What
A stock market, also known as equity market, is either a public or private market in which company stocks and derivates are traded at an agreed price. The stocks are traded on a stock exchange, a specialized mutual organization that brings sellers and buyers of stocks and securities together.
Who
In the past, only wealthy investors and businessmen with long family affiliations to particular corporations are interested in the stock market. Nowadays, buyers and sellers in the stock market can be individual investors, insurance companies, banks, mutual funds, investor groups, and hedge funds. The growth of institutional investor also provided some improvements on the stock market.
Where
The trading of buyers and sellers can be physically or virtually. A sample of physical exchange, also referred to as listed exchange, is the New York Stock Exchange (NYSE) where transactions are accomplished on a trading floor. The NASDAQ on the other hand is a virtual exchange where trades are done electronically or via a network of computers.
How
Stock trading involves a potential buyer bidding a definite price for a stock and a potential seller asks a specific price for the stock. When the bid and ask prices match, then a sales occurs on a first come first served basis in case there were several askers or bidders at a given stock price. In a physical stock exchange like the NYSE, commodity exchanges are traded and bided verbally on a trading floor. This procedure of verbal bidding is called outcry. While virtual listed exchange like NASDAQ matches potential buyers and sellers electronically.
Why
Apparently, the stock market is one of the most essential sources for companies to raise fund. Also, the liquidity of stock trading provides investors the ability to sell securities easily and quickly. Though the behavior of stock market is still quite surprising and unpredictable to many, there has been a significant increase in shift of household financial assets from traditional bank deposits to the more risky securities of stock market.