Huge gains in Sri Lanka’s monopolist tobacco producer Ceylon Tobacco Plc caused the indices to reach another all time high. Ceylon Tobacco Company Plc was up by 45.75 (20.80%) to close at Rs 265.75. ASI closed at 3789.37, up 82.65 points & MPI closed at 4373.75, up 104.57 points. Turnover was also impressive at 2.57 billion rupees.
Eagle Insurance Plc a member of international AVIVA group was up by 24.75 to end the day at Rs 204.75 while Environmental Resources Investments Plc closed at Rs 207.00, up 28.00. The Bukit Darah Plc gained 45.00 rupees to close at Rs 3100.00. Rarely traded Watapota Investments Plc was up by 150.00 to close at Rs 1050.00 but only 100 shares traded.
Quality floor tile producer Royal Ceramic Lanka Plc closed at Rs 97.25, up 11.75. The blue chip company Hayleys Plc gained 8.75 to close at Rs 216.25 after they announced better quarterly results.  Asia Capital Plc (ACAP) was up by three rupees to end the day at Rs 13.25. There were 34.16 million shares of ACAP changed hands today.
Still foreigners were net sellers with Rs 587.2 million purchases & Rs 713.7 million in sales. With this continuous foreign outflow I feel there will be market correction in near future. It is advisable to long term investors should wait & see. But there are opportunities for speculators & day Traders.

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Filed under: Daily Stock Market Report

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