Archive for January, 2010

Colombo stocks opened lower but closed higher on first trading day after Presidential poll.

Thursday, January 28th, 2010 at 4:57 pm 
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Market fell over 60 points in early trading but recovered quickly & closed higher. ASI managed to gain 45.03 points to close at 3636.41 while MPI was up by 56.84 points to close at 4181.79. Turnover was 1.92 billion rupees.
Lanka Cement (LCEM) traded heavily (4.3 million shares) after their announcement on new project to produce cement. LCEM closed at Rs 29.75, up 6.50. Aitken Spence Plc closed Rs 45.50 higher at Rs 1386.25 while its subsidiary Aitken Spence Hotel Holdings Plc closed at Rs 421.00, up 31 rupees.  Asian Hotels & Properties Plc gained ten rupees to close at Rs 121.00.
High Investor interest seen on Plantation Stocks, Malwatte Valley Plantations Plc was up by 8.25 to close at Rs 44.50 while Watawala Plantations Plc closed at Rs 119.00, up four rupees. Bogawantalawa Tea Estates Plc gained 4.75 to end the day at Rs 42.00.
Chevron Lubricant Lanka Plc a unit of chevron Texaco USA closed 3.50 higher at Rs 153.50. Sri Lanka’s only listed ship building company Colombo Dockyard Plc closed at Rs 300.25, up two rupees.
Distilleries Company of Sri Lanka Plc lost 1.50 to close at Rs 117.50 after reaching as low as Rs 112.00 in early trading. Sri Lanka Telecom Plc was down by 75 cents to close at Rs 42.00.

Sri Lanka stocks closed higher! Turnover exceeds 1.5 billion rupees.

Monday, January 25th, 2010 at 5:26 pm 
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ASI was up by 22.72 points to close at 3554.45 while MPI closed 22.07 points higher at 4066.Retail investor favorite Touch Wood Investment Plc was up by 19.25 to close at Rs 112.50 & more than 2.2 million shares traded during the day.                 
Over 1.6 million shares of Commercial Bank of Ceylon traded & closed 25 cents higher at Rs 185.25. Aitken Spence Hotel Holdings Plc gained 34.25 to end the day at Rs 387.75 while Aitken Spence Plc closed at Rs 1276.00, up Rs 25.00.
John Keells Holdings Plc closed 75 cents lower at Rs 173.00. MTD Walkers lost 23.00 to close at Rs 341.00.
Tomorrow people Sri Lankan people will decide the Sri Lanka’s next Executive President.
The government has declared Wednesday the 27th of January, the day after the elections, a public and bank holiday. 29th Friday is also a Public & Bank holiday. Current week is limited to 3 trading days.

Volatile Week.

Friday, January 22nd, 2010 at 9:49 pm 
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CSE weekly market report for the week ended 22nd Jan 2010.
 Despite positive close on Friday overall market ASI) dipped 31.41 points to close the week at 3531.73. With increased election fever market was unable to find the direction. Investors who did not wish to take the post election risk sold their shares to take the advantage of recent gains. Total equity turnover for the week was 6.06 billion rupees. Foreigners purchased 476.6 million worth of stocks while sold stocks valued 1512 million rupees.
Top gainers for the week.
·         First Capital was up by Rs 35.00 (+125%) to close at Rs 63.00.
·         Seylan Merchant gained Rs 1.55 (+32.98%) to close at Rs 6.25.
·         MTD Walkers closed at Rs 364.00, up 84.75 (+30.35%).
·         Ceylon Brewery closed at Rs 147.00, up 27.00 (+22.5%).
·         Asiri Central Closed Rs 19.25 (+19.11%) higher at Rs 120.00.
Top percentage losers for the week.
·         Nation Lanka lost 3.75 (-18.99%) to end the week at Rs 16.00.
·         Ceylon Leather Products closed at Rs 92.75, down Rs 17.00 (-15.49%).
·         People’s Merchant Bank lost Rs 4.50 (-11.32%) to close at Rs 35.25.
·          Hotel Sigiriya lost Rs 5.75 (-10.18%) to end the week at Rs 50.75.
·         Kandy Hotels closed at Rs 106.75, down Rs 11.25 (-9.53%).
Our opinion is long term investors should not worry over the Presidential Election results. Even if the result is one not expected by investors, the market fall will be very short term. It will be definitely picked up in medium term.  

Investors started to realize part of their profit.

Thursday, January 21st, 2010 at 4:22 pm 
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Trading summary 21-01-2010.
At the end of Thursday’s trading ASI dipped 12.70 points to close at 3519.71 while Milanka index which is represents most liquid stocks lost 30.18 points to end at 4040.90. Turnover was 728.4 million rupees. Drop was mainly due to declines in index heavy weighted stocks.
John Keells Holdings Plc was down by 75 cents to close at Rs 174.25 while Dialog Telekom lost 25 cents to end the day at Rs 6.75. Alcohol industry market leader Distilleries Company of Sri Lanka Plc lost 1.75 to close at Rs 114.25. Sri Lanka’s largest listed Finance Company Central Finance Plc declined seven rupees to close at Rs 380.00.
First Capital Holdings Plc was up by 12.75 to close at Rs 41.00. Housing Development Finance Corporation of Sri Lanka (HDFC) closed seven rupees higher at Rs 144.50. Sampath Bank closed at Rs 220.00, up 5.75.
John Keells Hotels Plc has announced Rights Issue of 1 for 3 at Rs 10.00 per share subject to approval of share holders & Colombo Stock Exchange.
We can expect more volatility in coming few days of this month.

Colombo Share Market Report – Strong recovery.

Wednesday, January 20th, 2010 at 5:22 pm 
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After two days of decline CSE recorded strong gains today. ASI gained 1.41% or 49.11 points to close at 2532.41 & MPI closed at 4071.08, up 60.57 points. Turnover was amounted to 1.2 billion rupees. John Keells Holdings Plc alone contributed Rs 185 million for the total turnover. There were wide spread buying interest in almost all the sectors.
Highly capitalized index heavy both Dialog Telekom & Sri Lanka Telecom made gains today. Sri Lanka Telecom Plc closed at Rs 43.00, up 1.25 while Dialog closed 25 cents higher at Rs 7.00. The Bukit Darah Plc was up by Rs 120.00 to close at Rs 2970.00. Haycarb Plc closed at Rs 196.00, up Rs 16.25. Mercantile Shipping Plc the Sri Lanka’s only listed shipping company was up by Rs 19.00 to close at Rs 120.00.
John Keells Holdings closed 50 cents higher at Rs 175.00. Well diversified alcohol producer Distilleries Company of Sri Lanka Plc gained 25 cents to end the day at Rs 116.00.
MTD Walkers Plc lost 52.50 to close at Rs 373.25 while Renuka City Hotel Plc closed at Rs 205.00, down 17.25. Total of 125 stocks made gains while 26 of them declined. Foreigners bought 102.3 million worth of stocks & sold stocks valued to Rs 476.3.
It is very hard to predict the results of upcoming presidential election. Our opinion is investors should take part of profit from the gains they made in past few days.
If you wish to discuss & express your opinion on Sri Lanka’s economy & Colombo Stock Market, please visit the Sri Lanka Stock & FOREX forum.

Colombo Stocks crashed as profit taking continues.

Tuesday, January 19th, 2010 at 5:16 pm 
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In early trading ASI crashed over 60 points but ended 45.25 points lower at 3483.30 while MPI lost 63.51 points to close at 4010.51. Turnover was 739.8 million rupees.
Stocks fell in almost all sectors. Total of 120 companies lost their share prices while only 34 companies managed to record gains. Investors were in confusing with uncertainty over next presidential election results. It is very hard to predict the results as this is the first election that entire country is waiting to vote after three decades.
The Bukit Darah Plc lost 90.00 rupees to close at Rs 2850.00. E B Creasy & Co Plc was down by Rs 19.75 to close at Rs 205.25. Carsons Cumberbatch Plc dipped by 15.25 to close at Rs 510.00 while Central Industries Plc lost eleven rupees to end the day at Rs 150.00.
In Banking sector, Hatton National Bank Plc declined by Rs 3.00 to close at Rs 170.25 while Commercial Bank of Ceylon Plc lost 2.50 to close at Rs 188.00. Sampath Bank closed at Rs 213.50, down two rupees. National Development Bank closed the day 2.50 lower at Rs 202.50.
More than 1.7 million shares of Richard Peiris & Company traded & closed 44.25, up 3.50. Renuka City Hotel Plc was up by Rs 17.25 to close at Rs 222.25.
Foreigners were net buyers with 75.2 million purchases & Rs 51 million sales.

CSE closed lower on profit taking.

Monday, January 18th, 2010 at 5:32 pm 
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Retailers started to take profit just one week ahead of the Presidential Election. ASI slipped 34.59 points to close at 3528.55 while more liquid Milanka index lost 25.26 points to end the day at 4074.02. Turnover was 1.72 billion rupees, boosted by controlling stake change in Lanka Ventures. 39.4 million Shares of Lanka Ventures changed hands & closed at seventeen rupees, up 25 cents.
Index heavy Sri Lanka Telecom closed 1.50 lower at Rs 41.50 while Aitken Spence Plc was down by 10.75 to close at Rs 1241.50. Distilleries Company of Sri Lanka Plc lost two rupees to close at Rs 117.50.
Banks Finance & Insurance sector also hit by selling pressure. Ceylinco Insurance Plc lost 15.00 rupees to close at Rs 215.00. Central Finance lost 10.25 to close at Rs 384.75. Sampath Bank was declined by 2.25 to close at Rs 215.50 while National Development Bank closed at Rs 205.00, down Rs 2.00.
MTD Walkers Plc was up by 103.50 to close at Rs 382.75. Haycarb gained by 6.25 to end the day at Rs 176.00.
There were 112 negative contributors & 44 positive contributors reported during the trading session. Foreigners were net sellers with Rs 138.9 million purchases & Rs 277 million sales.

Colombo shares ended the week on positive note.

Friday, January 15th, 2010 at 5:03 pm 
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End Friday’s trading ASI closed at 3563.14, up 26.43 points while MPI gained 13.91 points to close the day at 4099.28. Turnover recorded for the day was 1.56 billion rupees. The week was limited to four trading days.
Heavily Traded stocks for the day.
·         Kshatriya Holdings Plc – 5,291,800 shares traded & closed at Rs 8.25, up one rupee.
·         Ceylon Leather Products Plc – 1,306,700 shares & closed 3.25 lower at Rs 109.75.
·         John Keells Holdings – 1,353,800 shares traded & closed unchanged at Rs 179.00.
·         1,182,200 Shares of Nation Trust Bank plc & closed unchanged at Rs 38.00.
·         2,176,300 shares of Nawaloka Hospitals traded & closed 10 cents higher at Rs 3.20.
Haycarb Plc a subsidiary of diversified blue chip Hayleys Group closed at Rs 169.75, up Rs 23.50. Aitken Spence Hotel Holdings Plc was up by ten rupees to close at Rs 345.00 while Reverina Hotels Plc closed at Rs 90.00, up 13.75. The high quality tile producer Royal Ceramic Lanka Plc was gained by 6.25 to end the day at Rs 78.25.
Distilleries Company lost 50 cents to close at Rs 119.50. People’s Merchant Bank Plc was down by 6.25 to close at Rs 39.75. Property Development Plc, the owners of Bank of Ceylon head office building closed the day 2.00 rupees lower at Rs 34.25.
Foreign investors were net sellers today with Rs 92.7 million purchases & Rs 387.6 million sales. Next week is the final week before the Sri Lanka’s Presidential Election. We hope there will be more upside potential during the week.

Do you like to share your knowledge on Colombo Stock Market?

Thursday, January 14th, 2010 at 10:14 am 
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We have just launched a forum for you to share your knowledge & information with other investors. We strongly believe that when it’s comes to Investment in stocks or FOREX we can greatly benefit if we share our knowledge & information with others.

CSE today forum is still very small but hope it will grow up with time. All will depend on how you will participate. We will award few Moderator Ranks for members who will actively answer other member’s questions in useful way. 

Please note that we don’t have any relationship with Colombo Stock Exchange or its official website cse.lk.

You can find the forum link by visiting this post.
http://www.stock-market-today.net/2010/07/sri-lanka-stock-market-forum.html

Colombo shares up 1.20% today.

Wednesday, January 13th, 2010 at 5:25 pm 
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Colombo All Share Price index closed at 3536.71, up 42.09 points while Milanka index closed at 4085.37, up, 79.48 points. Turnover was Rs 2.26 billion, boosted by over 2.9 Distilleries shares & 1.9 million Ceylon Leather Products shares.
Distillers closed at Rs 120.00, up Rs 2.50. Distilleries Company of Sri Lanka Plc is one of our recommended stock which is on our favorite list. Ceylon Leather product was up by 39.50 to close at Rs 113.00. Environmental Resources Investments Plc closed the day Rs 24.00 higher at Rs 122.00. Central Finance Company Plc, Sri Lanka’s largest Finance Company closed at Rs 400.00, up 28.25.
Asiri Central Hospitals Plc lost 9.25 to close at Rs 100.75. Commercial Bank of Ceylon Plc was down by 2.75 to close at Rs 192.00.
Total of 88 companies reported gains while 60 companies contributed negatively. After long period of waiting foreigners became net buyers today with Rs 409.5 million purchases and Rs 331.7 million sales.
Investors were busy with building their stock portfolio before the upcoming Presidential Election scheduled to be held on 26th January 2010.

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