CSE Daily Stock Market Report Archives

Colombo ASI crashes further 2.04%

Monday, January 23rd, 2012 at 4:49 pm 
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ASI 23 01 2012 Colombo ASI crashes further 2.04%Selling pressure prevailed throughout the day. All Share Index lost 118.04 points to close at 5663.09 while MPI closed at 4811.71, down 105.18. Turnover was amounted to 827.33 million rupees.

192 stocks closed lower today while only 22 stocks closed higher. Lanka Orix Leasing Plc was down by 4.90 to close at Rs 69.80. Sampath Bank lost five rupees to end the day at Rs 175.00 while Commercial Bank (COMB) closed at Rs 99.00, down one rupee. Distilleries Company of Srilanka closed 3.40 lower at Rs 138.00. 5,991,400 shares of Asia Asset Finance Ltd shares traded and closed 30 cents lower at Rs 5.90.

John Keells Holdings Plc was up by 70 cents to close at Rs 164.00 while Swarnamahal Financial Services Plc (SFS) closed 10.30 higher at Rs 99.60.  835,100 shares of SFS changed hands during the day.

Although most companies are showing good results, recovery of the market is still uncertain in short-term. Therefore it is better to stay with cash or only invest in historically high dividend paying fundamentally sound stocks with long-term  view.

There is a big mistake that investors are doing always. If a stock (assume as ABC) traded higher than Rs 200.00 few months back and now trading below Rs 50.00  and still falling, then they think this is very cheap and will go higher again and invest heavily in it. But what will happen if ABC dips below 20.00? Stock needs to show some positive signs of strength before we decide to invest in it.

Colombo Stocks continues to rise as Banking Stocks getting heavy demand.

Thursday, June 3rd, 2010 at 5:25 pm 
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The bench mark Colombo All Share Index was up by 31.90 points to close at 4332.39 while Milanka Index gained 68.70 to close the day at 4918.64. Turnover was 3.67 billion rupees.
Investors are speculating on possible tax cut on heavily taxed Banking Industry after recent import tax cut. Commercial Bank of Ceylon Plc (COMB) was leading the Banking rally with Rs 12.50 gain to close at Rs 267.00 while Hatton National Bank gained twelve rupees to close at Rs 272.00. DFCC Bank closed at Rs 247.75, up 9.50. National Development Bank was up by 8.75 to close at Rs 228.50 while Sampath Bank managed to close at Rs 310.25, up 11.50.
AVIVA NDB Insurance Plc has added Rs 15.25 to its value to close at Rs 225.25. Singer Sri Lanka Plc was up by 13.75 to end the day at Rs 128.75.
Total of 86 companies made gains today while 62 companies lost their market prices. Over 2.5 million shares of Confifi Hotel Holdings Plc traded today but closed 14.75 lower at Rs 210.00. The US Based lubricant Company Chevron Lubricants Lanka Plc lost 5.25 to close at Rs 159.50.
Foreigners were continued to be net buyers with purchases of Rs 513.2 million & sales of Rs 288.1 million.
Brokers feel that demand for banking stocks will continues as investors speculates on the sector.

Banking stocks dominated the today’s trading.

Wednesday, June 2nd, 2010 at 6:48 pm 
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With the large transaction in Commercial Bank of Ceylon Plc (COMB) other banking stocks too got the investor attention. CSE turnover was boosted to massive 9.55 billion rupees mainly due to COMB deal. ASI was up by 41.59 points to close at 4300.39 while MPI managed to close 71.56 points higher at 4849.94.
COMB closed at Rs 254.50, up 5.25 while DFCC Bank closed at Rs 238.25, up 29.75. Hatton National Bank (HNB) was up by 9.75 to end the day at Rs 260.00. Nation Trust Bank gained four rupees to close at Rs 42.00 while National Development Bank closed at Rs 219.75, up 3.75.   
Investor interest in Motor sector still going on due to yesterday’s import tax cut on vehicles. Lanka Ashok Leyland was up by hundred rupees to close at Rs 1325.00 while Diesel & Motor Engineering (DIMO) closed at Rs 605.75, up fifty five rupees. United Motors Lanka Plc the Mitsubishi vehicle importer also added eight rupees to close at Rs 143.75.
Listed consumer electronic item importers also benefited from the tax cut. ABANS Electricals Plc was up by 5.25 to close at Rs 199.75. Singer Sri Lanka Plc closed at Rs 115.00, 19.75.
 Total of 86 stocks recorded gains today while 55 stocks lost their value. Foreigners were net buyers with huge margin as they purchased stocks valued Rs 6.21 billion rupees & sold stocks valued Rs 1.74 billion. According to the brokers the COMB stake was acquired by a foreign investor.

Sri Lanka Share market recovered from yesterday’s losses with the announcement of better earnings from JKH.

Tuesday, June 1st, 2010 at 6:36 pm 
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Stock Market summary -Tuesday 1st June 2010.
John Keells Holdings Plc (JKH) group has announced Rs 5.55 billion profit (after tax & minority interest) for the financial year ended 31st March 2010, up from Rs 4.96 billion last year. Investor sentiment was accelerated by the announcement of tax cut on vehicle imports. JKH was closed at Rs 186.00, up 2.25 while United Motors gained 30.25 or 28.67% to close at Rs 135.75.00.
 Colombo All Share price index closed at 4258.80, up 21.64 while more liquid Milanka index closed 20.98 points higher at 4778.38. Today’s equity turnover amounted to Rs 1.18 billion.
 Diesel & Motor Engineering Plc was up by massive Rs 105.00 to end the day at Rs 550.75. Abans Electrical Plc which is an electronic consumer goods importer gained 9.50 to close at 194.50. Sathosa Motors Plc the Isuzu vehicle importer also up by 15.50 to close at Rs 152.50.
There were 77 gainers & 63 losers for the day. Confifi Hotel Holdings & Renuka City Hotel Plc was among the major losers for the day. Confifi Hotel lost 25.50 to close at Rs 220.50 while Renuka City Hotel Plc was dipped by Rs 18.75 to close at Rs 235.00.     

CSE Indices turned to positive as selected stocks rises.

Wednesday, May 26th, 2010 at 5:13 pm 
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Gains in Hemas Holdings Plc (HHL) & John Keells Holdings Plc (JKH) pushed the ASI to 4250.99, up 24.5 points while MPI which represent more liquid stocks closed 39.57 points higher at 4761.35. Turnover was 1.09 billion rupees.
HHL has announced a share split of 5 for 1 & closed the day Rs 10.75 higher at 148.25 while JKH closed at Rs 180.00, up 2.50. Confifi Hotel Holdings made an extra ordinary gain of Rs 101.00 to close at Rs 318.00. There was huge demand for hotel sector stocks during the day.  Trans Asia Hotels Plc was up by 15.00 to close at Rs 240.00 while Sigiriya Village Hotels Plc closed at Rs 68.50, up 7.75.
Total of 84 companies made gains while 53 stocks lost their value during the day. Hayleys Plc was down by 7.75 to close at Rs 294.25 while Lanka Orix Leasing Company Plc (LOLC) lost 11.50 to end the day at Rs 265.25.
Foreign investors bought Rs 73.09 million worth of stocks & sold stocks valued at Rs 139.86 million.
Colombo Stock Exchange Negombo branch is going to conduct an Investor Education seminar series on 4th, 11th & 18th of June 2010. You can get more information by calling Tel No – 031-2227859/61. It will cost you only Rs 300/-. The seminar will be conducted in Sinhala Language. If you are residing around Negombo don’t forget to participate.
Colombo Stock Exchange will be closed for trading on 27th & 28th May 2010 due to Vesak Poya (A Buddhist Religious Holiday).

Sri Lanka shares dipped due to profit taking by retailers.

Tuesday, May 25th, 2010 at 5:05 pm 
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Colombo Market faced selling pressure due to profit taking by retail investors on gains made during the past few weeks. ASI lost 6.43 points to close at 4226.49 while MPI lost 10.34 points to close at 4721.78. Turnover was 2.76 billion rupees.  
Turnover was boosted by heavy trading in Confifi Hotels & Commercial Bank. LOLC purchased 3,119,691 (43.33% of the stated capital) in Confifi Hotel Holdings Plc at Rs 210/- per share. In recent past there were several listed Hotels subjected to takeovers. Sri Lanka’s tourism sector is expected to take off due to current peaceful environment prevailing in the country.  
Index heavy JKH & SLT lost Rs 1.75 & 50 cents respectively. JKH closed at Rs 177.50 while Sri Lanka Telecom closed at Rs 36.75.
Central Finance Company Plc the Sri Lanka’s biggest listed finance company closed at Rs 400.00, up 10.50. Lanka Orix Leasing Plc gained Rs 16.25 to close at 276.50. Riverina Hotels Plc was up by Rs 19.00 to close at 129.00.
Foreign investors were net sellers with Rs 978.8 million sales & Rs 606.1 million in purchases.

Colombo bourse closed on a mixed note.

Thursday, May 20th, 2010 at 5:12 pm 
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After fluctuating within narrow range CSE All Share Index (ASI) closed at 4248.37, up 4.83 points while more liquid Milanka index closed at 4788.58, down 4.13 points. Turnover was 1.34 billion rupees.
A subsidiary of Swiss based food company Nestle Lanka Plc was up by 59.75 to close at Rs 660.00 while MTD Walkers Plc closed at Rs 468.75, up 43.75. Finlays (Colombo) Plc closed the day Rs 35.00 higher at Rs 220.00.
Watapota Investments Plc was the biggest looser today with Rs 130.00 drop to close at Rs 1400.00. Ceylon Tea Services Plc lost 34.75 to close at Rs 540.00. Distilleries Company of Sri Lanka was down by one rupee to end the day at Rs 124.00.
There were 51 positive contributors & 90 negative contributors at the end of the trading.     
Housing Development Finance Corporation Bank of Sri Lanka (HDFC) has announced 528.65% increase in profit mainly due to recovered loan dues from EPF loan customers. HDFC logged a claim of Rs 560 million to Employees Provident Fund (EPF) in early this year to recover loans given against EPF balances. HDFC net profit for the quarter ended 31st March 2010 was Rs 224 million but for the whole financial year ended 31st March 2010 was amounted to Rs 104,006,000.00.
CSE announcements
Eden Hotel Lanka Plc
Revaluation of Fixed Assets.
The Board of Directors of Eden Hotel Lanka Plc has announced that they have revalued company fixed assets as at 31st march 2010 & decided to incorporate the capital appreciation of Rs 482,342,287/- in the books of accounts.
Accordingly the value of fixed assets has increased from Rs 947,252,507/- as at 31st March 2009 to Rs 1,429,594,794/- as at 31st March 2010.
Reverina Hotels Plc
Revaluation of Fixed Assets.
The Board of Directors of Reverina Hotels Plc has announced that they have revalued company fixed assets as at 31st march 2010 & decided to incorporate the capital appreciation of Rs 652,618,102/- in the books of accounts.
Accordingly the value of fixed assets has increased from Rs 969,906,104/- as at 31st March 2009 to Rs 1,622,524,206/- as at 31st March 2010.

Gains in selected blue chips pushed the indices higher.

Thursday, May 13th, 2010 at 4:23 pm 
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Index heavy weighted Dialog Telecom was the main contributor for today’s positive close of the CSE indices. Dialog closed at Rs 8.50, up 25 cents. Aitken Spence Plc was up by 49.00 rupees to close at Rs 1499.25 while Lanka IOC Plc (LIOC) the local unit of Indian Oil Company closed 2.50 higher at Rs 21.75.
The All Share Index closed at 4242.67, up 13.27 points. Milanka Index of highly liquid stocks was up by 32.09 points to close the day at 4774.2. The total equity turnover for the day was 1.18 billion rupees.
Ceylon Tea Services Plc gained Rs 47.50 to close at Rs 562.50 while Ceylon Cold Stores Plc the Elephant Brand soft drink maker closed at Rs 243.50, up 24.75.
Retail investors were shifting their investments from high valued stocks to lower valued stocks. Good demand was seen on plantation stocks too. Kegall Plantations Plc was up by 2.50 to close at Rs 72.25 while Kotagala Plantations Plc was up by one rupee to close at Rs 66.00. Balangoda Plantations Plc closed at Rs 37.75, up 50 cents.
There were 66 positive contributors & 65 negative contributors for the day. The Bukit Darah Plc lost 147.00 rupees to close at Rs 4553.00 but only 100 shares traded. Environmental Resources Investments Plc was dipped by four rupees to close the day at Rs 87.25.    

Sri Lanka shares closed marginally lower after fluctuating within narrow range.

Tuesday, May 11th, 2010 at 5:12 pm 
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The ASI lost 6.82 points to end the day at 4215.22 while MPI closed almost unchanged at 4747.81. Turnover was 1.38 billion rupees. The expected market correction was eased by better than expected corporate results of listed companies for the March quarter. But the possibility of market correction is still there.
The highly illiquid Watapota Investments Plc was up by massive Rs 500.00 to close at Rs 1500.00 on 100 shares. Lanka Orix Leasing Company Plc closed at Rs 276.50, up 27.00. The retailer’s favorite Touchwood Investments Plc was up by twelve rupees to close at Rs 133.50. Haycarb Plc a subsidiary of diversified blue chip Hayleys Plc was closed at Rs 185.50, up 10.50. Government controlled Housing Bank HDFC closed Rs 7.00 higher at 160.25.
Rarely traded The Autodrome Plc lost 33.25 to close at Rs 370.00 while Hunters & Company Ltd was down by 63.00 to end the day at Rs 630.00. There were 62 gainers & 85 losers for the day.
Foreigners purchased Rs 178.5 million worth of stocks while they sold stocks valued at Rs 120.1 million.      

Sri Lanka shares closed marginally higher despite expected market correction.

Wednesday, May 5th, 2010 at 5:18 pm 
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Indices at CSE closed higher with gains in index heavy Dialog Telekom & Sri Lanka Telecom. Dialog closed one rupee higher at Rs 8.50 & over 23.9 million shares traded during the day. Sri Lanka Telecom closed at Rs 38.00, up one rupee. Turnover was healthy at 2.83 billion rupees. Heavy trading in Galadari Hotels alone contributed Rs 538.3 million for the today’s total equity turnover.
All share index closed at 4219.76, up 14.25 points while MPI closed at 4786.19, up 37.59 points. There were 93 companies that recorded negative growth while only 53 companies reported gains. This is clearly indicate market is about to face for a technical correction.
The Good Hope Plc was up by 56.00 to close at Rs 450.00 while The Bukit Darah Plc gained 25.25 to close at Rs 4525.25. Both companies have oil Palm interest in Malaysia. Confifi Hotel Holdings lost 14.25 to close at Rs 210.75 while Finlays Colombo Plc dipped by 44.50 to close at Rs 195.50. Diesel & Motor Engineering Plc (DIMO) lost eleven rupees to end the day at Rs 414.00.
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