The bench mark Colombo All Share Index (ASI) closed at 4612.46 (-0.52 points) while Milanka Index (MPI) closed at 5278.35, down 21.73 points. Today’s total equity turnover was amounted to Rs 4.04 billion.
Sri Lanka Telecom (SLT) & Hamas Holdings (HHL) were the highest positive contributors today. SLT closed at Rs 37.00, up 50 cents while HHL closed at Rs 184.25, up 8.25. More than 7 million shares of Colombo Dockyard Plc traded today & closed Rs 6.25 higher at 278.00. Over 38.5 million shares of SIERRA Cable Plc traded during the day & closed at Rs 3.20, up 40 cents.
John Keells Holdings closed unchanged at Rs 205.00 while Distilleries Company of Sri Lanka Plc lost 75 cents to close at Rs 129.25. Sampath Bank Plc was down by 3.50 to end the day at Rs 359.25. The housing Bank HDFC lost 14.25 to close at Rs 281.25. Lanka Orix Leasing Company Plc closed Rs 8.75 lower at 286.25.
Foreigners were net sellers today by huge margin. Foreigners purchased Rs 485.35 million worth of stocks while they sold stocks valued massive Rs 2.12 billion.
Colombo ASI lost 27.26 points to close at 4574.29 while Milanka Index closed at 5257.53, down 32.64 points. Total equity turnover was 2.52 billion rupees. Index heavy Dialog Telekom & Commercial Bank was the major negative contributors today. Dialog lost 25 cents to close at Rs 9.50 while Commercial Bank voting shares lost 4.75 to end the day at Rs 179.75.
Dankotuwa Porcelain Plc (DPL) gained massive Rs 18.50(+88.1%) to close at Rs 39.50. Investors were speculating that DPL will recover with new owners. Over 19.5 million shares of DPL traded today. Sri Lanka’s leading Finance Company Central Finance was up by 23.75 to close at Rs 499.00 while Asiri Hospitals gained ten rupees to close at Rs 140.00.
Abans Electricals Plc was down by 43.25 to close at 175.00. HDFC lost 16.50 to close at Rs 293.50. The Bukit Darah Plc lost 162.50 to end the day at Rs 4237.50.
Few individual stocks are already overvalued but we feel still we can find stocks with potential growth. Today’s market PER was 23.51. Foreigners were net buyers today with Rs 734.41 million purchases & Rs 285.93 million sales.
Price declines in index heavy Sri Lanka Telecom (SLT), Commercial Bank of Ceylon Plc (COMB) & John Keells Holdings (JKH) caused the Colombo indices to close lower today. ASI was down by 43.56 points to close at 4591.17 while the recently revised MPI index which represents more liquid stocks also down by 42.07 points to close at 5261.75.
SLT lost 1.50 to close at Rs 36.50 while diversified Blue Chip JKH closed two rupees lower at 203.25. Commercial Bank voting shares dipped by six rupees to end the day at 186.25 while its nonvoting stocks lost 4.75 to close at Rs 149.75.
Despite 1 for 1 rights announcement @ Rs 73/-, Ceylon Leather Products Plc closed 50 cents lower at Rs 232.75. Aitken Spence Plc was down by 23.25 to close at Rs 1620.00.
The undervalued Housing Bank HDFC was up by 13.00 to close at Rs 275.25 while LB Finance closed three rupees higher at Rs 135.00. Ceylon Cold Stores gained fourteen rupees on 900 shares to close at Rs 255.00.
Total of 122 companies lost their value today & only 44 companies made gains. Foreign investors were net sellers with Rs 1.10 billion sales & Rs 463.2 million purchases.
Heavy gains in Dialog Telekom took the market to higher levels today. Index heavy weight Dialog was up by 75 cents or 8.11% to close at Rs 10.00 with over 16 million shares traded. ASI was up by 51.34 points or 1.11% to close at 4658.68 while MPI gained 68.29 points to close at 5339.76. Turnover was amounted to Rs 3.55 billion.
Swiss based Food Company Nestle Lanka Plc was up by 20.00 to close at Rs 650.00 while rarely traded Lanka Ashok Leyland closed at 1591.75, up 191.75. LB Finance Plc gained 12.25 to close at Rs 134.00. Commercial Bank of Ceylon Plc was up by 5.50 to close at Rs 194.25 while its nonvoting shares ended at Rs 154.25, up seven rupees.
Colombo Dockyard Plc was down by 4.25 to close at Rs 265.75 while Hatton National Bank Plc dipped by 3.25 to close at Rs 290.75. Aitken Spence Hotel Holdings Plc lost four rupees to close at Rs 423.00. More than 3.5 million shares of John Keells Holdings Plc shares traded today & closed unchanged at Rs 205.00.
95 companies contributed positively while 65 stocks lost their value. Foreigners were net buyers today with Rs 775.8 million purchases & Rs 531.4 million sales.
Colombo ASI ended the week today marginally higher at 4607.34, up 3.98 points while MPI closed the opposite way at 5271.47, down 0.76 points. The Government has declared tomorrow the 18th June 2010 as a public holiday to mark Victory Day (First Anniversary of ending the war against terrorism) celebration.
Turnover was amounted to Rs 2.34 billion. Heavy trading reported in Dialog Telekom, Ceylon Grain Elevators Plc & Nawaloka Hospitals. Over 36 million Dialog Telekom shares changed hands today & closed 25 cents higher at Rs 9.25. Multinational food producing company Nestle Lanka Plc has gained 20.00 to close at 630.00 rupees on mere 100 shares. Sri Lanka’s only wire line telecom service provider Sri Lanka Telecom Plc closed at Rs 37.75, up 50 cents.
Nawaloka Hospitals Plc was up by 75 cents to close at Rs 7.25 while Chemical Industries (Colombo) Plc closed at 79.25, up Rs 1.25.
Ceylon Tobacco was down by ten rupees to end the day at Rs 300.00 while Ceylon Brewery Plc closed the day Rs 5.00 lower at 225.00. Hatton National Bank lost one rupee to close at Rs 294.00.
There were 76 gainers & 65 losers for the day. Foreigners were still net sellers with Rs 143.1 million purchases & Rs 440.4 million sales.
Inflation, as measured by the year-on-year change in the Colombo Consumers’ Price Index (base=2002) declined for the third consecutive month, reaching 5.3 per cent in May 2010. The annual average inflation increased marginally to 3.6 per cent in May 2010. Inflationary pressures in the domestic economy remain subdued benefiting from dampened commodity prices in the international market and increased domestic agricultural output.
Growth in the money supply continues to moderate while accommodating an expansion in credit to the private sector. Credit extended to the private sector by the commercial banks, which contracted during much of 2009, has recorded a positive growth since March 2010. Expansion in credit obtained by the private sector indicates a gradual pick-up in economic activity, and this expansion is expected to gather momentum, particularly in view of the prevailing supportive monetary conditions.
Indicators of external sector performance point to encouraging developments. Exports have recorded a healthy growth for the first quarter of 2010. Imports have also increased in line with the recovery in economic activity. The recent relaxation of selected import tariff would provide additional impetus to the economic recovery underway. Workers’ remittances, which have recorded a growth of 14.1 per cent, year-on-year, for the first quarter of 2010, meanwhile, continue to cushion the current account. Further, the Central Bank continues to be a net buyer in the domestic foreign exchange market. Reflecting these trends, the foreign reserves of the country remain at comfortable levels.
Taking into consideration the above developments, the Monetary Board, at its meeting held on 15 June 2010, decided to maintain the policy interest rates of the Central Bank unchanged.
The release of the next regular statement on monetary policy will be on 13 July 2010.
Colombo investors started to sell off stocks that recently gained significantly. ASI slipped marginally (6.07 points) to close at 4606.69 while MPI closed the day positively at 5271.03, up 13.95 points. Turnover was 1.67 billion rupees.
Sri Lanka’s leading Super Market operator Cargills Ceylon Plc lost 5.50 to close at Rs 134.75 while index heavy John Keells Holdings Plc closed the day one rupee lower at Rs 203.00. Swiss based Food Company Nestle Lanka Plc was down by 22.50 to close at Rs 610.00.
In Banks & Finance sector, Commercial Bank of Ceylon Plc was up by 5.25 to close at Rs 283.00 while DFCC Bank closed at RS 274.75, up one rupee. Sampath Bank lost 4.75 to close at Rs 340.00.
Over six million shares of Janashakthi Insurance Company Plc changed hands & closed 75 cents higher at Rs 15.50.
Sri Lanka shares started the trading for fresh week with extremely positive note & ASI crossed the 4600 index mark. ASI was up by 51.43 points (+1.13%) to close at 4612.76 while MPI was up by 74.92 points to close at 5257.08. Total equity turnover amounted to 1.70 billion rupees.
Diversified blue chip John Keells Holdings (JKH) was the leading contributor for today’s Bull Run followed by Dialog Telecom Plc. JKH closed the day at Rs 204.00, up 3.75 while Dialog closed at Rs 9.00, up 25 cents. Due to heavy weight on indices JKH & Dialog can move indices significantly with small movement in their stock prices.
Sri Lanka’s only ship builder Colombo Dockyard Plc gained ten rupees to close at Rs 270.00. The monopolistic tobacco Company, Ceylon Tobacco Plc was up by ten rupees on 100 shares to close at Rs 310.00. Ceylon Leather Products Plc has gained 9.50 to end the day at Rs 240.00.
Rarely traded Colombo Pharmacy Plc lost 26.25 to close at Rs 400.00 while another illiquid company The Indo Malay Plc was down by 65.00 rupees to close at Rs 350.00 but only 100 shares traded during the day. Commercial Bank of Ceylon Plc lost 2.25 to close at 277.75 while Sampath Bank lost one rupee to close at Rs 344.75.
Total of 112 stocks gained today while 58 stocks lost their value. There were marginal foreign outflow today with Rs 145.04 foreign purchases & Rs 146.81 million sales.
Heavy interest in Banking & Diversified Holding sector drove the indices to new highs. ASI gained 203.13 to close the week at 4561.33 while MPI gained 213.82 points to close at 5182.16. Total equity turnover for the week amounted to Rs 13.13 billion rupees with an average daily turnover of Rs 2.62 billion. Total market capitalization stood at 1.486 trillion rupees, up by Rs 67.59 billion.
During the week Hatton National Bank Plc was up by 21 rupees to close at Rs 292.75 while DFCC Bank gained 15.25 to end the week at Rs 265.25. Commercial Bank was up by 13.25 to close at Rs 280.00. National Development Bank was up by 14.75 to close at Rs 247.00.
On Friday Carson Cumberbatch Group has announced a restructuring plan on their plantation assets in other countries. Carson Cumberbatch Plc has incorporated a wholly owned subsidiary to hold plantation assets. The name of that newly registered company is Goodhope Asia Holdings Ltd (GAHL) & it was registered in Singapore. Carson Group has announced improved results for the last financial year. Most of Carson Group stocks gained sharply on Friday.
In Hotels & Travels sector Trans Asia Hotel was up by 39 rupees to close at Rs 262.50 while Asian Hotels & Properties Plc closed at Rs 167.00, up 21.50.
Retailers may shift their investment trend from high valued stocks to low valued stocks (Midcap stocks) in coming days.
Foreigners were net sellers during the week with Rs 2.46 billion purchases & Rs 3.49 billion sales.
Now breaking of its own records becomes a normal activity for Colombo Stock Market. Today Colombo All Share Index (ASI) reached 4500 points but closed slightly below 4500 at 4496.24, up 31.83 points. Milanka Index (MPI) which is representing more liquid stocks gained 24.64 points to close at 5137.37. Turnover for the day was Rs 2.83 billion.
Cargills Ceylon Plc gained further 14.25 to close at Rs 132.25 & 289500 shares traded during the day. Carson Cumberbatch Plc was up by 15.75 to close at Rs 565.00. Diversified FMCG Company Hemas Holdings Plc closed at Rs 160.50, up 7.00.
Over 2.5 million shares of John Keells Holdings traded today & closed at Rs 2.25 higher at Rs 198.25 while Commercial Bank of Ceylon Plc (COMB) Rs 279.25, up 1.25. Over 3.3 million shares of COMB traded. National Development Bank was up by two rupees to close at Rs 247.00.
In hotel sector, Hotel Sigirya closed at Rs 74.50, up 4.75 while Reverina Hotels Plc gained 5.25 to end at Rs 105.00. Tangerine Beach Hotel was up by four rupees to close at Rs 110.00. Renka City Hotel Plc was down by 9.75 to end the day at Rs 240.00.
Foreigners sold 1.5 billion worth of stocks & purchased stocks valued 1.07 billion rupees.
