Both indices fallen to negative territory during the early part of the day but managed to close higher at the end of the day. Speculation over Broker Credit Relaxation led the market gain. ASI was up by 67.32 points to close at 6087.40 while MPI closed 26.96 points higher at 5273.58. Days total turnover amounted to 2.60 billion rupees. John Keells Holdings Plc (JKH) alone contributed 481.6 million rupees for the total turnover by trading 2,831,500 shares closed 4.30 lower at Rs 170.00.

143 stocks closed higher than previous day and only 44 stocks closed lower. CTC was up by 32.70 to close at Rs 445.60 while DIST gained 6.60 to close at Rs 156.80. Environmental Resources Investments Plc (GREG) closed at Rs 54.70, up 9.50.

Asia Asset Finance Ltd (AAFL) has informed the CSE that up to 29^th November they have received 505 applications for 53,048,000 shares with payments made by Bank Drafts and Cheques. Unlike recent Initial Public Offerings there were no applications with Bank Guarantees. AAFL IPO will open for subscription till 15^th December 2011 if not fully subscribed before closing date. AAFL IPO was the first IPO that not oversubscribed on the opening day in recent past. Investors lost faith on IPOs after loosing heavily from several IPOs.

Foreign investors were net buyers with net inflow of Rs 107,277,709.00.

Colombo Stocks skyrocketed on news that a group of brokers was meeting President Mahinda Rajapaksa to discuss the crisis in the markets. The benchmark All Share Index (ASI) was up by 216.48 points or 3.37 percent to close at 6022.24 while liquid Milanka Index closed at 5233.23, up 180.32 points. Days turnover amounted to 1.23 billion rupees.

Commercial Bank (COMB) was up by 3.70 to close at Rs 101.90 while Aitken Spense Plc closed at Rs 109.40, up 4.50. Bairaha Farms was up by 19.30 to close at Rs 200.30. GREG closed at Rs 44.50, up 7.20. Total of 209 stocks reported gains while only 10 stocks closed lower than previous days closing prices.

Richard Peiris And Company PLC  has announced a dividend of 40 cents per share and closed 60 cents higher at Rs 9.10. Expolanka was up by 70 cents to close at Rs 9.70. Royal Ceramic Lanka Plc closed at Rs 140.30, up 7.40.

Foreigners were  at selling side with net outflow of Rs 104,037,182.00. Investors are anticipating relaxation of Broker Credit Rules. Retail investors should not chase on speculative stocks blindly as they already burnt their fingers for this reason.

Indices were on positive territory during the early part of the day but ASI ended day 51.91 points lower at 6060.95 while MPI the most liquid index lost 58.21 points to close at 5299.24. Day’s turnover amounted to 1.18 billion rupees.

Hon. President Mahinda Rajapaksa yesterday presented a development oriented Budget for year 2012. Analysts are saying that the devaluation of the rupee by 3% is a very positive sign. This move should help the export-based companies with less import input. Tourist industry will also get benefited from reduction of passenger vehicle import tax.

During the Tuesday’s trading most of plantation stocks ended lower due to after the government said in its 2012 budget it will acquire unused lands that leased to plantation companies. Distilleries Company of Sri Lanka Plc (DIST) was down by 3.50 to close at Rs 150.50 while Ceylon Tobacco Plc (CTC) lost 1.60 to close at Rs 418.50. Tax increased for the products of both DIST and CTC by yesterday’s Budget.

Two subsidiaries of Citrus Leisure group has announced IPOs. Waskaduwa Beach Resort Ltd is offering 15,600,000 Ordinary Voting Shares at a price of LKR 12.50 per share while Kalpitiya Beach Resort Ltd is offering 16,200,000 Ordinary Voting Shares at a price of LKR 17.50 per share. Both Companies will open their IPO subscription lists on 30th November 2011 .

The shares of the People’s Leasing company would be listed on the Main Board of the CSE and will be classified under the Banks Finance Insurance sector with effect from 24th November 2011 . The assigned Code for People’s Leasing is PLC-N-0000 .

Colombo ASI was closed at 2623.50, up 23.63 while Milanka index gained 23.57 points to close at 2987.78. Turnover was 969.7 million rupees.

Heavily traded stocks.

Seylan Bank – Nonvoting (6,566,400) closed at Rs 12.00, up three rupees.
Merchant Bank of Sri Lanka (5,733,200) closed at Rs 28.00, up Rs 4.50.
The Finance Co Plc (2,851,400) closed at Rs 29.25, up 1.25.
Dialog Telekom Plc (2,060,900) closed at Rs 5.75, up 25 cents.
Colombo Dockyard closed the day 2.25 higher at Rs 140.25. Heyleys Plc gained 3.00 rupees to close at Rs 140.00.

Diversified Blue Chip John Keells Holdings lost 50 cents to close at 135.50 while the subsidiary of US based oil giant Chevron, Chevron Lubricant Lanka Plc lost 4.25 to Rs 150.25.

There were net foreign inflows today as foreigners bought 153.9 million worth of stocks & sold stocks valued Rs109.5 million.

31-08-2009

ASI was up by 6.15 points to close at 2607.65 while MPI also gained 11.19 points to end the day at 2975.68. Turnover was 583.7 million rupees, boosted by large parcels in Environmental Resources Investment Plc (1,195,900), Hotel Services (Ceylon) Plc (2,245,000) & Nawaloka Hospitals Plc (6,075,400).

Aitken Spence Plc was up by 13.00 rupees to close at Rs 658.00 while its Hotel subsidiary Aitken Spence Hotels Plc gained by Rs 7.25 to close at 185.50.

Sri Lanka’s only Dry Dock operator Colombo Dockyard Plc continues to trade strongly & closed at Rs 135.25, up Rs 8.25. The local unit of Chevron, Chevron Lubricant Lanka plc was up by 3.75 to close at Rs 148.75.

In banking sector, Hatton National Bank Plc was up by 3.00 to close at Rs 138.00 while Sampath Bank Plc closed the day 1.50 higher at Rs 145.25.

Few plantation stocks shed their value today, namely Bogawanthalawa Plantation Plc lost three rupees to close at Rs 46.00. Elpitiya Plantations Plc was down by 2.25 to close at Rs 54.50.
There were net foreign out flow today as foreign investors bought Rs 50.3 million worth of stocks & sold stocks valued at Rs 89.7 million.

Brokers said market outlook remains positive. Retail investors were picking up hotel stocks with expectation of better tourist arrivals in coming months.

Friday 28th August 2009.



ASI closed the day at 2601.50, up 13.46 points while more liquid Milanka gained 29.34 points to close at 2964.49. Turnover was Rs 720.4 million. John Keells Holdings Plc (JKH) alone contributed Rs 237.9 million towards total market turnover by trading 1.75 million shares. JKH closed the day at Rs 135.50, down 50 cents.



Hotel stocks were retail investor top pick as few of them gained significantly. Tangerine Beach Hotels Plc traded Rs 80.00 per share in early trading but closed 4.75 higher at Rs 72.50. Royal Palms Beach Hotels was up by six rupees to close at Rs 70.00. Aitken Spence Hotel Holdings Plc closed the day 3.00 higher at Rs 178.25.

Index heavy Dialog Telekom gained 25 cents to close at Rs 5.75 & more than 1.5 million shares traded.

Eagle insurance lost 4.50 to close at Rs 170.00. Sri Lank Telecom lost 25 cents to close at Rs 42.25.

There were 67 stocks gained while 56 lost their value today.

27-08-2009.

In early trading ASI touched 2592.94 (15 months High) but closed the day 35.01 points higher at 2588.04. MPI was up by 30.94 points to end the day at 2935.15. Turnover was LKR 1.14 billion.

Six million four hundred & seventy two thousand & three hundred shares of Hotel Services (Ceylon) Plc traded today within price range of Rs 18.50 to 21.00 & closed the day 2.25 higher at Rs 20.50.

Diversified Blue Chip John Keels Holdings contributed Rs 224.6 for today’s turnover by trading 1,661,900 shares. JKH closed 75 cents higher at Rs 136.50. Over two million shares of Dialog Telekom traded & closed at Rs 5.50, up 25 cents.

Retail investors chased on hotel sector stocks. Beruwela Walk Inn was up by 6.75 to close at 66.75 while Browns Beach Hotels Plc gained 4.75 to close at Rs 75.00. Tangerine Beach Hotel Plc closed the day 7.50 higher at Rs 67.75.

In banking & finance sector, Sampath Bank Plc was up by 5.75 to close at Rs 142.00 while Commercial Bank of Ceylon Plc added 3.25 to its value & closed at Rs 150.25.
Sri Lanka’s only Ship Builder Colombo Dockyard Plc is still strong & closed at Rs 126.50, up Rs 4.00.

Brokers said investors are optimistic on higher foreign inflow to the local equity market after international rating agency upgraded its outlook on Sri Lanka from negative to stable.
There were 117 gainers & only 24 losers during the trading day.