Colombo Stock Exchange ended trading for year 2009 with record high.

In year 2009 CSE has reached its highest level. Indices gained more than 120% for the 2009. Today the final trading day of the year All share Index closed at 3385.55, up 28.96 points while more liquid MPI closed 28.81 points higher at 3849.38. Turnover for the day was 765.4 million rupees.

The Colombo Dockyard Plc was up by Rs 17.00 to close at Rs 244.75. Dockyard gained more than 250% since May 2009. Tokyo Cements (Lanka) Plc closed at Rs 322.25, up 11.25. Mobile Telecom giant Dialog Telekom Plc closed unchanged at Rs 7.25. Hatton National Bank was up by 2.25 to close at Rs 170.25 while Sampath Bank gained 3.25 to end the day at Ra 204.25.

Asiri Central Hospitals Plc was down by 8.25 to close at Rs 106.75. The Chevron Lubricant Lanka Plc lost 5.75 to close at Rs 141.75. Distilleries Company of Sri Lanka Plc (DIST) closed 25 cents lower at Rs 105.25. DIST is one of good stock you should buy as it has potential to go up 40 to 50 rupees within next year. They have invested in fully owned insurance subsidiary & amount due from government is more than Rs 6 billion (US$ 52 million+).

Hope 2010 will be most challenging year for Colombo Stock Market. We need more foreign funds to invest here. War is not a subject to talk about any more. We have peace now this is the best time to build our economy.

We (Stock Market Today) wish our readers Happy Peaceful & Profitable New Year!

Another positive day for Colombo Share Market.

ASI managed to close 11.70 points higher at 3356.59 while MPI closed at 3820.57, up 11.55 points. Turnover recorded for the day was Rs 620.9 million. There were retail investor interest seen on shares under rupees 10.00.

Dialog Telekom (1,843,400 shares) closed the day unchanged at Rs 7.25 while over one million Piramal Glass Ceylon Plc shares traded at Rs 2.10 per share. Large quantities (1,022,900 shares) traded in Blue Diamond Jewelry Worldwide Plc & closed 10 cents lower at Rs 2.00.

The Bukit Darah Plc added Rs 87.50 to its value and closed at Rs 2850.00. J.L Morison Sons & Jones (Ceylon) Plc was up by Rs 49.50 to close at Rs 799.50 on 200 shares.    Carson Cumberbatch Plc closed at Rs 455.50, up 17.25.

Aitken Spence Plc lost 25 rupees to close at Rs 1325.00. Nestle Lanka Plc dipped by Rs 9.50 to end the day at Rs 415.00.

There is good news for investors who subscribed for Renka Agri Foods initial Public offering (IPO). Colombo Stock Exchange has announced that the Renka Agri Foods shares will be start trading on 4^th January 2010. The assigned security code is RAL-N-0000. It was classified under Beverage, Food & Tobacco sector.

There is only one more trading day for the year 2009; the 31^st December 2009 is a public holiday in Sri Lanka.

The Presidential Election campaigns are heating up; both top two candidates are working hard to win the most powerful post in the country.

 There are so many online polls are currently active on various websites with deferent results.  Some visitors may try to manipulate the poll results by voting more than once. This is not a campaign for any particular Presidential Candidate. So please give only one vote for your preferred person.

Remember these online opinion polls don’t give 100% clear picture. Most of (90%) internet users in Sri Lanka are from Colombo District or Western Province.

You can find the poll widget on top left hand corner of this blog.

                                                                                                                           

Sri Lanka shares closes higher on Monday.

Market started fresh week with the optimism. ASI closed at 3344.89, up 52.13 points while MPI closed 31.78 points higher at 3809.02. Turnover was 563.2 million rupees.

Aitken Spence Plc was the today’s biggest gainer with Rs 151.25 gain to close at Rs 1350.00. The Bukit Darah Plc was up by 35.25 to close at Rs 2762.50. Nestle Lanka Plc closed at Rs 424.50, up 14.50.

In Banks Finance & Insurance sector, Central Finance was up by four rupees to close at Rs 310.00. National Development Bank closed at Rs 205.00, up 3.50 while Development Finance Cooperation of Ceylon (DFCC) closed one rupee higher at Rs 165.75. Commercial Bank of Ceylon Plc closed at Rs 189.00, up two rupees.

The two index heavy telecom giants, Sri Lanka Telecom & Dialog Telekom closed 75 cents & 25 cents higher to close at Rs 46.50 & Rs 7.25 respectively.

Watawala Plantations Plc lost 2.50 to end the day at Rs 86.75. Diversified Blue Chip Hayleys Plc lost one rupee to close at Rs 174.00. Alcohol producer Distilleries Company of Sri Lanka Plc closed 1.50 lower at Rs 105.50.

Announcements at Colombo Stock Exchange.

28-Dec-2009 SUB DIVISION OF SHARES DATES   

TOKYO CEMENT COMPANY (LANKA) PLC (Voting Ordinary Shares)
Date of Announcement: - 28. December 2009
Company ID: TKYO
Date of EGM - 20 January 2010
Sub Division based on the shareholding as at end of trading on - 20 January 2010
Period of Dealing Suspension (Both days inclusive): 21 January 2010 to 27 January 2010
Date of commencement of trading: 28 January 2010

CSE recovered from yesterday’s losses.

The benchmark Colombo All Share Index (ASI) was up by 26.76 points to close at 3292.76 while more liquid Milanka Price Index (MPI) gained 32.91 points to close at 3777.24. Turnover was 868 million rupees.

Distilleries Company of Sri Lanka Plc was up by 3.75 to close at Rs 107.00 with the announcement of receiving approval for their newly formed insurance subsidiary. Aitken Spence Plc closed at Rs 1198.75, up 63.00 rupees. More than 1.3 million of Asian Hotels & Properties Plc shares traded within price range of Rs 90.00 to 92.00 & closed 50 cents higher at Rs 90.50.

Colombo Dockyard closed at Rs 220.25, up two rupees. Sri Lanka’s largest privately held commercial bank, Commercial Bank of Ceylon Plc gained 1.50 to end the day at Rs 187.00. National Development Bank was up by 1.25 to close at Rs 201.50 while DFCC closed at Rs 164.75, up one rupee.

Ceylinco Insurance Nonvoting lost seven rupees to close at Rs 125.00. Ceylon Tea Services closed at Rs 376.00, down by four rupees.

Hope market will retain its current bullish trend for the rest of few days in year 2009.

We wish our readers Merry Christmas!

Image via Wikipedia

Investors take profit ahead of holiday season.

Colombo shares opened higher but closed marginally lower due to selling pressure which was started on middle of the day. Investors were taking advantage of huge gains made during the last few days. ASI lost 14.82 points to close at 3266.00 while MPI lost 12.69 points to end the day at 3744.33.

Turnover was 1.3 billion rupees. More than 3.2 million shares of Asian Hotel & Properties Plc traded today & closed two rupees higher at Rs 90.00. Eagle Insurance was up by Rs 5.75 to close at Rs 183.75. Asiri Central Hospitals Plc 110.00, up four rupees.

Aitken Spence Plc lost 14.25 to close at Rs 1135.75 on 98,100 shares. Carsons  Cumberbatch Plc closed at Rs419.50, down 13.50. Haycarb Plc was down by 4.00 to close at Rs 140.25. Distilleries Company of Sri Lanka Plc lost 2.25 to close at Rs 103.25 while Colombo Dockyard Plc declined by Rs 3.75 to end the day at Rs 218.25.

Foreigners sold Rs 541.7 million worth of stocks while purchased Rs 47.8 million worth of stocks.  

Colombo Bourse closes higher as Blue Chips leading the way up.

At the end of Tuesday’s trading ASI gained 46.54 points to close at 3280.82 while MPI closed at 3757.02, up 67.74 points. Heavy trading in HNB & JKH helped to generate Rs 1.44 billion turnover for the day.

The Bukit Darah Plc was up by Rs 320.75 to close at Rs 2499.75 while Aitken Spence Plc gained further fifty rupees to close at Rs 1150.00. Index heavy Blue Chip; John Keells Holdings closed Rs 9.75 higher at Rs 172.00 & over 1.6 million shares traded for the day. There were larger parcels (1,029,100 shares) of Hatton National Bank traded & ended the day 2.75 lower at Rs 166.50.

Retail investor interest has seen on ACL Plastics which was appreciated by Rs 6.25 to close at Rs 75.75. Dialog Telekom lost 25 cents to close at Rs 6.75 while Sri Lanka Telecom closed at Rs 45.00, up one rupee.

Foreigners were net sellers with Rs 673 millions of sales & Rs 185 million worth of purchases. It is looks like the upward trend is strong & will stay next couple of days.

     

Sri Lanka Stock Market hits another record high.

Colombo Stock Market continued its upward trend which was started last week. ASI closed at record high of 3234.28, up 45.46 points while MPI also closed at 3689.28, up 58.80 points. Turnover was 1.01 billion rupees.

Top five positive contributors for the day.

Aitken Spence Plc closed at Rs 1100.00, up 100 rupees.

Chevron lubricant Lanka Plc closed at Rs 146.00, up Rs 16.25.

Carsons closed at Rs 409.75, up Rs 19.75.

John Keells Holdings closed at Rs 162.25, up 1.75.

Distilleries Company of Sri Lanka Plc closed at Rs 105.25, up 3.25.

Top five negative contributors for the day.

 Tangerine Beach Hotels Plc lost 1.50 to close at Rs 66.50.

Asiri Hospitals Plc lost 25 cents to close at Rs 11.00.

Lion Brewery Ceylon Plc lost 1.50 to close at Rs 70.00.

Union Assurance lost 2.75 to close at Rs 92.00.

Central Finance lost 5.00 to close at Rs 305.00.

I still recommend Commercial Bank, DFCC & Distilleries as strong stocks to buy.

Who will be the next President of Sri Lanka?

We are (Stock Market Today) conducting an opinion poll on Sri Lanka Presidential Election to be held in January 2010.

Our honest intention is to get a rough idea about the winner. Although there are other candidates are contesting, according to history of Sri Lankan Elections it is unrealistic to think person to win other than one of main two candidates. If you think none of the main two candidates will win the election you can vote on “I don’t know”

We are not giving special treatment to any candidate. Please vote only once. If you have any complain or suggestion, please contact us on info@stock-market-today.net.

Happy online voting!

Colombo Stock Market reaches All Time High.

Today, 18^th December 2009 ASI closed at 3188.82 (+54.35 points) which is all time high surpassing previous record of 3139.7 on 13^th October 2009. The Milanka (MPI) index closed 74.73 points higher at 3630.48. Turnover levels are still on high & today it was Rs 1.13 billion.

According to the Press Release issued by Colombo Stock Exchange the Colombo bourse has recorded 112% growth for the year 2009.

Today Carson Cumberbatch group of companies recorded significant gains. Parent company Carson Cumberbatch Plc was up by 21.25 to close at Rs 390.00 while Shalimar (Malay) Plc was up by Rs 210.25 to close at Rs 645.00. The Bukit Darah Plc closed at Rs 2099.75, up 202.25. Chevron Lubricant Lanka Plc gained Rs 15.00 to close at Rs 129.75. Highly profitable Colombo Dockyard Plc was up by 15.75 to end the day at Rs 215.75. Both National Development Bank & Development Finance Corporation of Ceylon (DFCC) was up by five rupees each to close at Rs 205.00 & Rs 160.00 respectively.

Fixed line telecom operator Sri Lanka Telecom lost 75 cents to close at Rs 44.00 while Mobile market leader Dialog Telekom closed unchanged at Rs 7.00.

Brokers said there was renewed buying interest from both institutional & retail investors. However foreigners were net sellers with Rs 85.8 million purchases & Rs 185.3 million sales.

Recommended Stocks to buy.

DFCC

Commercial Bank of Ceylon Plc.

Distiliries Company of Sri Lanka Plc.

CSE Trading summary – 16-12-2009.

Colombo All Share Index closed 45.02 points (+1.46%) higher at 3134.47 while Milanka Price Index closed at 3555.75, up 53.77 points. Turnover was Rs 918.3 million. John Keells Holdings (JKH) alone contributed Rs 296.2 million for total market turnover by trading 2,851,500 shares. JKH closed at Rs 160.00, down 25 cents.

Sri Lanka’s one of oldest diversified Company, Aitken Spence Plc has reached Rs 1000.00 by gaining Rs 75.00. Distilleries Company of Sri Lanka is the single largest share holder of Aitken Spence Plc with 17.22% stake. Distilleries closed at Rs 99.25, up 2.50.

National Development Bank closed at Rs 200.00, up eight rupees while Hatton National Bank closed the day Rs 4.50 higher at Rs 169.75. Another diversified Blue Chip Hayleys Plc was up by Rs 5.25 to close at Rs 170.25.

The Autodrome Plc lost Rs 46.75 to close at Rs 250.00. Renuka CityHotel Plc was down by five rupees to end the day at Rs 190.00. Foreign purchases were at Rs 112.2 million while sales were amounted to Rs 106 million resulting net inflow.

Colombo shares up! Turnover exceeds Rs 5 Billion.

With large negotiated transaction in John Keells Holdings Plc, turnover was sky rocketed to Rs 5.2 billion rupees. ASI ended the day 12.49 points higher at 3089.45 while MPI closed almost unchanged at 3501.98.

Over 29 million shares of JKH traded & closed one rupee higher at Rs 160.25. The other significant contribution (Rs 203.8 million) was received from Commercial Bank of Ceylon Plc (COMB). COMB closed at Rs 177.00, up two rupees.

Aitken Spence Plc was up by 24.50 to close at Rs 925.00 while its subsidiary company Aitken Spence Hotel Holding Plc closed at Rs 250.50, up Rs 6.50. National Development Bank was up by Rs 4.25 to close at 192.00 while Sampath Bank closed Rs 3.50 higher at Rs 192.50.

MTD Walkers Plc lost 4.75 to close at Rs 131.25. Watwala Plantations Plc lost two rupees to end the day at Rs 80.50. Index heavy Dialog Telekom was down by 25 cents to close at Rs 6.25 while Sri Lanka’s largest alcohol producer Distilleries Company of Sri Lanka Plc lost 50 cents to close at Rs 96.75.

There were total of 87 gainers & 32 losers recorded during the day. Foreign investors were net buyers with Rs 4.7 billion purchases & Rs 2.3 billion sales.

Strong recovery at Colombo Stock Market – John Keells Holding leads the way.

Trading in John Keells Holdings Plc accounted for more than 50% of the day’s total equity turnover by trading 5,075,100 shares valued at Rs 782.9 Million. JKH closed the day at Rs 159.25, up Rs 5.25. ASI was up by 37.18 points (+1.22%) to close at 3076.96 while MPI also gained 54.63 points to close the day at 3501.11. Total equity turnover stood at 1.4 million.

The second largest contributor in terms of volume & value was Aitken Spence Hotel Holdings Plc by trading 1,033,500 shares valued at Rs 258.1 million. Aitken Spence Hotel Holdings closed Rs 4.25 higher at Rs 244.00.

Diesel & Motor Engineering closed at Rs 169.00, up 24.00 rupees. Diversified Blue Chip Hayleys Plc & its subsidiary Haycarb Plc both gained 2.25 each to close at Rs 164.25 & Rs 145.25 respectively. Highly illiquid rarely traded Autodrome Plc gained Rs 96.75 to close at Rs 296.75 on 1100 shares.

Paragon Ceylon Plc lost Rs 61.50 to close at Rs 150.00 but only 100 shares traded. Hotel Developers Plc lost 4.00 to close at Rs 118.00.

Foreign investors purchased Rs 765.1 million worth of stocks & sold stocks valued at Rs 749.2 million.

Today I visited newly launched cds.lk website which is owned by Central Depository Systems (PVT) Ltd (CDS). CDS is fully owned subsidiary of Colombo Stock Exchange. This newly launched website is very useful for both investors & brokers as it allows downloading all the required documents including CDS account opening forms, transfer forms & withdrawal forms etc...  I hope foreign investors & nonresident Sri Lankan investors will benefit from this new site.

Sri Lanka stocks closed lower – Daily Market Report.

At the end of Monday’s trading both ASI & MPI closed red. ASI lost 16.86 points to close at 3039.78 while more liquid MPI lost 32.14 points to close at 3446.48. Indices lost mainly due to price declines in index hevy Dialog Telekom & John Keells Holdings. Dialog was down by 25 cents to end the day at Rs 6.75 while JKH closed at Rs 154.00, down one rupee. Turnover was 330.9 million rupees.

Asiri Hospitals Plc has contributed Rs 20 .9 million towards total equity turnover by trading 1.94 million shares. Asiri closed 25 cents lower at Rs 10.25. Activated Carbon producer Heycarb plc was the day’s bigest gainer with Rs 11.50 gain. Hecarb closed at Rs 143.00. Regnis (Lanka) Plc was up by Rs 5.75 to close at Rs 64.25 on 100 shares. Hotel Developers (Lanka) Plc gained 6.75 to close at Rs 122.00.

Eagle Insurance Plc lost Rs 5.00 to close at 170.00. Commercial Bank of Ceylon Plc closed at Rs 174.00, down 1.25 while National Development Bank lost one rupee to close at Rs 186.00. Colombo Dockyard Plc also down by one rupee to close at Rs 196.00.

Monetary Policy Review – December 2009

Press Release - Central Bank of Sri Lanka.

Current Account to Record a Surplus in 2009 for the First Time since 1977

Inflationary pressures continue to remain subdued as reflected by the annual average inflation of around 4 per cent recorded by end November 2009, although year-on-year inflation increased to 2.8 per cent.  The outlook for inflation remains benign.  The development of the Northern and Eastern provinces in the period ahead would result in their increased integration with the rest of the country, leading to enhanced supply of goods and services in the country.  The positive supply side developments expected to take place in the domestic economy are likely to have a favourable impact on inflation, going forward.

The higher reduction in expenditure on imports compared to the decline in earnings from exports has resulted in the trade deficit narrowing significantly during the first nine months of 2009.  The overall deficits in the trade and income accounts were offset by higher inflows into the current transfers and services accounts, resulting in a surplus of US dollars 393 million in the current account for the first nine months of 2009.  It is expected that this performance will continue through the fourth quarter as well and the current account would record a surplus in 2009 for the first time since 1977.

Prospects for domestic economic activity have improved with the more favourable investment climate that now prevails and the gradual recovery of the world economy, supported by the relaxed monetary policy stance of the Central Bank.  Hence, it is expected that credit flows will gradually pick up, with the more favourable credit conditions that prevail on account of the decline in market interest rates as well as the more stable conditions in financial markets.  Although broad money supply is likely to further expand, particularly in view of the expansion of foreign assets of the country and the likely pick up in credit flows to the private sector in the ensuing period, such an expansion has been accounted for in stipulating the monetary targets for this year as well as the next year.   

Considering these developments the Monetary Board at its meeting on 11 December 2009 decided to maintain its policy interest rates at their current levels.  Accordingly, the Repurchase rate and the Reverse Repurchase rate would remain at 7.50 per cent and 9.75 per cent, respectively. 

The Road Map: Monetary and Financial Sector Policies for 2010 and beyond, to be announced on 4 January 2010, will enunciate the monetary policy strategy of the Bank for 2010.    

The release of the next regular statement on monetary policy will be on 19 January 2010. 

Colombo Stock Market – Weekly Report

11-12-2009.

Market stabilized around 3000 index level during the week. ASI gained 56.31 points to close at 3056.64 while MPI was up by 62.66 to close the week at 3478.62. Total equity turnover was down to Rs 3.1 billion compared to Rs 6.9 billion recorded previous week.

Top five gainers for the week (%)

Autodrome closed at Rs 200.00, up Rs 55.00 (+37.93%)

Morisons (Nonvoting) closed at Rs 712.00, up Rs 112.00 (+18.67%)

Nuwara Eliya Hotels closed at Rs 399.00, up Rs 57.00 (+16.67%)

Morisons (Voting Stock) closed at Rs 732.50, up 102.50 (+16.27)

Environment Resources Holdings closed at Rs 49.50, up 6.25 (+14.45%)

Top ten losers for the week

Regnis closed at Rs 58.50, down by Rs 11.50 (-16.43%)

Durdans Hospitals closed at Rs 77.00, down Rs 11.00 (-12.50%)

Blue Diamonds (Nonvoting) closed at Rs 0.80, down by 10 cents (-11.11%)

Beruwala Walk Inn closed at Rs 61.00, down by Rs 7.00 (-10.29%)

Hotel Developers closed at Rs 115.25, down by Rs 11.25 (8.89%)

There was net foreign out flow of Rs 851 million mainly due to sales of Mr Raj Rajarathnam’s stakes in listed blue chips.

Right Issues announced during the week.

Elpitiya Plantations Plc

Ratio, 1 for 1

Issue Price Rs 30/-

Coco Lanka Plc

Ratio, Five ordinary voting shares for every seven existing ordinary shares held & one ordinary nonvoting share for every seven existing ordinary shares held.

Issue Price

Ordinary voting shares Rs 35/- & Rs 25/- for ordinary nonvoting shares.

Breaking News – Distilleries Company of Sri Lanka Plc.

Distillers Company (DIST) has made an announcement regarding their latest investment in Insurance sector.

According to the announcement released to CSE, DIST will invest initial capital of Rs 500 million in their fully owned insurance company & already submitted application to Sri Lanka Insurance Board for approval.

DIST has experience in Insurance industry as they managed & owned the Sri Lanka’s largest insurance Company Si Lanka Insurance Corporation until middle of this year.

Colombo ASI closed unchanged over previous closing.

Today ASI closed at 3052.74 (+0.06) while MPI lost 11.70 points to close at 3469.89. Turnover was 715.6 million rupees.

Jhon Keells Holdings Plc (JKH) continues to trade in larger volumes & closed Rs 1.25 lower at Rs 155.00 on 1,882,611 shares.  Highly illiquid The Nuwara Eliya Hotel Company Plc was up by 57 rupees to close at Rs 399.00 but on mere 100 shares.

With the News of increased tourist arrivals, Hotel stocks may appreciate in coming days. Tangerine Beach Hotels Plc already gained 5.50 today to close at Rs 69.50. Hotel Sigiriya was up by 1.50 to close at Rs 52.50. Huns Falls Hotels Plc closed at Rs 51.50, up one rupee.

In banks & finance sector, Sampath Bank closed at Rs 190.00, up Rs 3.75 while National Development Bank gained 2.75 to close at Rs 183.25. Eagle Insurance was up by five rupees to close at Rs 175.00.

Foreigners were net sellers with Rs 408.4 millions in sales & Rs 326.5 million in purchases.

Initial Public offering (IPO) of Renuka Agri Foods Ltd – Basis of Allotment.

The Directors of above Company made an announcement to Colombo Stock Exchange regarding their recently concluded IPO.

Investors who applied 1000 to 10,000 shares will get the full amount.

Investors applied over 10,000 shares will get 10,000 shares & 5.99% of the total applied.

The board of directors of Renka Agri Foods Ltd further said in their statement that they believe the above mentioned basis is fair to all applicants considering the total number of shares applied.

Renuka Agri Foods IPO oversubscribed more than twelve times.

Colombo bourse gains with high turnover.

Trading in large parcels of National Development Bank (NDB) helped to achieve 1.16 billion rupee turnover. Over four million shares of NDB traded today & closed 1.50 lower at Rs 180.50. ASI was up by 27.31 points to close at 3052.68 while more liquid Milanka index closed at 3481.59, up 32.51 points.

Conglomerate John Keells Holdings was up by 1.25 to close at Rs 156.25 on 912100 shares. Distilleries Company of Sri Lanka Plc gained three rupees to end the day at Rs 96.75 while Chevron Lubricant Lanka Plc closed at Rs 230.00, up Rs 4.75. Tokyo Cement Company (Lanka) Plc closed at Rs 274.00, up 12.75.

The Bukit Darah Plc lost 22.50 to close at Rs 1750.00. Hotel Developers Plc closed at Rs 119.00, down Rs 1.25.

There were total of 92 positive contributors & only 35 negative contributors for the day. Foreign activity was on selling side with Rs 816.6 million sales & Rs 313.5 million purchases.

Colombo Stock Market starts the trading week on a positive note.

At the end of Monday’s trading All Share Index closed at 3025.37, up 25.04 points while MPI also gained 33.12 points to close at 3449.08. Market heavy weight JKH & SLT pushed the indices on higher levels. Turnover was 381.5 million rupees.

 John keells Holdings Plc closed at Rs 155.00, up three rupees. Asiri Central Hospitals Plc was up by Rs 11.50 to end the day at Rs 113.00. Hatton National Bank was up by 4.50 to close at Rs 168.00 while Sampath Bank closed at Rs 183.50, up 3.50. Commercial Bank of Ceylon Plc (COMB) voting shares gained Rs 75 cents to close at Rs 176.75 while COMB nonvoting shares closed Rs 3.00 higher at Rs 120.00.

Regnis (Lanka) Plc a subsidiary of consumer electronics giant Singer Sri Lanka lost Rs 14.00 to close at Rs 56.00. Renuka City Hotel Plc was down by Rs 10.00 to close at Rs 180.00. Hotel Developers (Lanka) Plc lost 6.25 to close at Rs 120.25.

 There were 74 gainers & 40 losers during the trading session. Foreign investors bought Rs 34.9 million worth of stocks & sold stocks valued at Rs 49.6 million.

Sri Lanka stocks closed marginally lower with high turnover.

At the end of the Friday’s trading ASI closed at 3000.33, down 4.48 points. MPI gained 0.78 points to close at 3415.96. Turnover still over billion mark at Rs 1.04 billion.

John Keells Holdings (JKH) continues to trade in high volumes & traded 4,432,900 shares. JKH closed 50 cents lower at Rs 152.00. Distilleries Company of Sri Lanka traded 1,269,400 shares & closed 25 cents higher at Rs 95.00. Distilleries is a one of best stock that I am focusing right now. Once they receive their amount due from Sri Lanka Government on SLIC, this stock definitely go up.   

Rarely traded Watapota Investments Plc was up by Rs 200.00 to close at Rs 700.00. Asiri Central Hospitals closed at Rs 101.50, up 10.50. Kalani Cables Plc closed Rs 8.00 higher at Rs 168.00 on 100 shares.

Aitken Spence Plc was down by 5.75 to close at Rs 894.25 while Chevron Lubricant Lanka Plc lost 4.50 to end the day at Rs 225.00.

Meanwhile The Finance Company (TFC) has announced that their long term rating was downgraded by Fitch Rating Lanka to C (LKA) from BB+ (LKA).  TFC is currently managed by Merchant Bank of Sri Lanka Plc.

CSE records sharp gains with huge turnover.

All Share Index (ASI) once again crossed 3000 mark. ASI gained 52.45 points or 1.78% to close at 3004.61 while Milanka Index closed at 3415.18, up 45.50 points. Turnover was huge at Rs 2.57 billion rupees boosted by large parcels of John Keells Holdings & Hatton National Bank.

Colombo shares gained heavily including Banking & Hotel sector stocks. Hotel Developers (Lanka) Plc was up by Rs 22.50 to close at Rs 125.75 while Aitken Spence Hotel Holding Plc was up by 15.00 to close at Rs 240.00. Trans Asia Hotel closed at Rs 165, up 11.00 rupees.

In Banks Finance & Insurance sector, Commercial Bank of Ceylon Plc closed at Rs 175.00, up 4.25. National Development Bank gained 2.75 to close at Rs 182.25 while DFCC closed at Rs 144.50, up Rs 1.50.

Over 7.8 million shares of Hatton National Bank traded today & closed at Rs 163.25, 25 cents. JKH also traded in high volume (5,093,200) & closed two rupees higher at Rs 152.50.

Distilleries Company of Sri Lanka Plc, one of my favorite stocks closed the day Rs 4.75 higher at Rs 94.75 while another best performing company Colombo Dockyard closed at Rs 195.25, up Rs 5.25.

Foreigners were net sellers with Rs 794.5 million purchases & Rs 1253.9 million in sales.