CSE 1.67 pct with 3 Billion plus turnover.
Colombo Stock Exchange (CSE) has completed another positive trading day with huge gains. Sri Lanka’s only wire line telecom operator, Sri Lanka Telecom Plc (SLTL) was the main contributor for todays gains. Index heavy SLTL was up by 3.49 to close at Rs 45.00. Carsons Group too contributed significantly. Carsons Cumberbatch Plc was up by 42.60 to close at Rs 814.30 while The Good Hope Plc closed at Rs 682.50, up 32.50.
Colombo’s main stock index ASI closed 94.88 points higher at 5785.17 while Milanka Index gained 52.20 to close at 5961.52. Turnover was amounted to 3.36 billion rupees.
Aitken Spence Hotel Holdings Plc was up by 26.70 to close at Rs 644.50 while Hotel Sigiriya closed at Rs 88.50, up 7.10. Lanka Orix Leasing Company Plc gained 11.10 to end the day at Rs 919.40. Richard Peiris and Company Plc was up by 11.90 to close at Rs 131.70. Sampath Bank, the first local bank who introduced Automated Teller Machines to Sri Lankans closed 8.10 higher at Rs 378.00.
Asiri Central Hospitals Plc lost 8.60 to close at Rs 135.50 while LB Finance Plc was down by 3.80 to close at Rs 190.30. There were 125 gainers and 59 losers for the day.
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Filed under: Colombo Stock Exchange • daily
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The information posted on this site does not give us any value addition. Rather than just posting the results (which is anyway available at cse.lk), give us your recommendations to buy/sell stocks and the rationale for it.
Good point!
Actually I have been trading stocks for last 15 years. I can give recommendation based on what I buy & sell but I also had bad investment decisions. Yes it is normal for even top professional investors. They also make wrong investment decisions.
I strongly believe buy or sell recommendations must come through a licensed stock broker. In order to do so I contacted several Sri Lankan Stock Brokers. Unfortunately they ignored my requests.
Then I put an open invitation on my blog.
(http://www.stock-market-today.net/2010/05/contribute-to-stock-market-today.html)
You may think why they should give daily reports and stock recommendation tips to publish on my blog free of charge? Let me explain why?
Type “Colombo Stock Exchange, Colombo Stock Market or Stock Market Today on Google search box. You will find my blog within top five results. Can you find one of local broker’s sites above my blog for given key phrase? No. Currently my blog has average of 250 unique visitors per day.
So if stock broker gives me research articles/daily recommendations to publish on Stock Market Today Blog, I can give the credit back to them eventually stock broker gets indirect publicity for their own site.
Thank you very much for commenting & specially commenting on this issue.
Interesting and thorough site, thanks.
Do you know a source for investing in Sri Lanka from the US; ETFs or otherwise?
Thanks again,
Michael Davey
You are welcome Michael !
If you are from USA you can invest in Sri Lankan stocks with HSBC Bank.
There are no restrictions in Sri Lanka for foreigners like other Asian countries. If you contact local Stock Broker who offers online trading they will guide you.
You can avoid extra fees that will be charged by US banks if you trade directly through Sri lankan Stock Broker.
Here is the list of online stock brokers.
http://www.stock-market-today.net/2010/07/online-stock-trading-in-sri-lanka.html
Thank you