Daily Market Report Archives

Colombo Stocks closed higher with low activity

Tuesday, March 6th, 2012 at 8:25 pm 
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Stock Report Colombo Stocks closed higher with low activity ASI managed to close marginally higher (12.86 points) at 5477.67 while Milanka Index gained 41.08 points to close at 4815.50, thanks to Rs 5.60 jump of index heavy John Keells Holdings (JKH). Days total turnover amounted to Rs 441.43 million. Turnover continues to be low with the introduction of the new version of trading system.

 

The Bukit Darah Plc was up by 8.90 to close at Rs 959.20 while Sampath Bank closed at Rs 181.50, up 5.20. Aitken Spence Plc closed 1.90 higher at Rs 116.90.

 

 

2,700,123 shares of PC Pharma Ltd (PCP) changed hands and closed 15.70 lower at Rs 25.20. PCP has contributed Rs 68.19 million towards the total market turnover. Softlogic lost 20 cents to close at Rs 12.80. National Development Bank closed at Rs 126.00, down one rupee.

 

Foreign investors were net buyers with just a million rupee difference.

 

Access Engineering Limited – Initial Public Offering

P W Corporate Secretarial (Pvt.) Ltd, Registrars to the above Offer, has informed the CSE that the above has been oversubscribed and closed 4.30 PM today.

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Sri Lanka Stocks up more than one percent despite negative start

Wednesday, November 30th, 2011 at 5:48 pm 
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CSE UP 300x225 Sri Lanka Stocks up more than one percent despite negative startBoth 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 that up to 29th 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 15th December 2011 if not fully subscribed before closing date. AAFL was the first 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.

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Sri Lanka Stocks in dramatic rebound

Monday, November 28th, 2011 at 5:43 pm 
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Colombo Stocks Up Sri Lanka Stocks in dramatic reboundColombo 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.

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Stocks lost despite development oriented 2012 Budget

Tuesday, November 22nd, 2011 at 6:26 pm 
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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 subscription lists on 30th November 2011 .

 

The shares of the People’s Leasing company would be listed on the Main Board of the 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 .

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Colombo Stocks crashed as profit taking continues.

Tuesday, January 19th, 2010 at 5:16 pm 
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In early trading ASI crashed over 60 points but ended 45.25 points lower at 3483.30 while MPI lost 63.51 points to close at 4010.51. Turnover was 739.8 million rupees.
Stocks fell in almost all sectors. Total of 120 companies lost their share prices while only 34 companies managed to record gains. Investors were in confusing with uncertainty over next presidential election results. It is very hard to predict the results as this is the first election that entire country is waiting to vote after three decades.
The Bukit Darah Plc lost 90.00 rupees to close at Rs 2850.00. E B Creasy & Co Plc was down by Rs 19.75 to close at Rs 205.25. Carsons Cumberbatch Plc dipped by 15.25 to close at Rs 510.00 while Central Industries Plc lost eleven rupees to end the day at Rs 150.00.
In Banking sector, Hatton National Bank Plc declined by Rs 3.00 to close at Rs 170.25 while Commercial Bank of Ceylon Plc lost 2.50 to close at Rs 188.00. Sampath Bank closed at Rs 213.50, down two rupees. National Development Bank closed the day 2.50 lower at Rs 202.50.
More than 1.7 million shares of Richard Peiris & Company traded & closed 44.25, up 3.50. Renuka City Hotel Plc was up by Rs 17.25 to close at Rs 222.25.
Foreigners were net buyers with 75.2 million purchases & Rs 51 million sales.

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Colombo shares ended the week on positive note.

Friday, January 15th, 2010 at 5:03 pm 
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End Friday’s trading ASI closed at 3563.14, up 26.43 points while MPI gained 13.91 points to close the day at 4099.28. Turnover recorded for the day was 1.56 billion rupees. The week was limited to four trading days.
Heavily Traded stocks for the day.
·         Kshatriya Holdings Plc – 5,291,800 shares traded & closed at Rs 8.25, up one rupee.
·         Ceylon Leather Products Plc – 1,306,700 shares & closed 3.25 lower at Rs 109.75.
·         John Keells Holdings – 1,353,800 shares traded & closed unchanged at Rs 179.00.
·         1,182,200 Shares of Nation Trust Bank plc & closed unchanged at Rs 38.00.
·         2,176,300 shares of Nawaloka Hospitals traded & closed 10 cents higher at Rs 3.20.
Haycarb Plc a subsidiary of diversified blue chip Hayleys Group closed at Rs 169.75, up Rs 23.50. Aitken Spence Hotel Holdings Plc was up by ten rupees to close at Rs 345.00 while Reverina Hotels Plc closed at Rs 90.00, up 13.75. The high quality tile producer Royal Ceramic Lanka Plc was gained by 6.25 to end the day at Rs 78.25.
Distilleries Company lost 50 cents to close at Rs 119.50. People’s Merchant Bank Plc was down by 6.25 to close at Rs 39.75. Property Development Plc, the owners of Bank of Ceylon head office building closed the day 2.00 rupees lower at Rs 34.25.
Foreign investors were net sellers today with Rs 92.7 million purchases & Rs 387.6 million sales. Next week is the final week before the Sri Lanka’s Presidential Election. We hope there will be more upside potential during the week.
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Colombo Stock Exchange starts trading for 2010 with huge gains.

Monday, January 4th, 2010 at 5:27 pm 
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Retail investors got their New Year Bonus as Renuka Agri Foods (RAL) started trading for the first time today with 70% gain. RAL issued 120 million shares at Rs 2.25 per share last month. Over 41 million shares of RAL traded today within price range of Rs 3.50 to 4.30 & closed at Rs 3.70.
ASI closed at 3781.64, up 96.09 points (2.84%) & MPI gained 112.37 points to close at 3961.75. Both indices were at all time high. Total equity turnover was 1.14 billion rupees (US$ 10 million).
Top five gainers.
1.       The Bukit Darah Plc was up by Rs 217.25 to close at Rs 3242.75.
2.       Watapota Investments Plc gained 100 rupees to close at Rs 800.00.
3.       Ceylon Guardian Investments Trust Plc was up by 85.00 to close at Rs 535.00.
4.       Ceylon Investments Plc closed at Rs 300.50, up by 53.00 rupees.
5.       Colombo Dockyard Plc was up by 38.75 to end the day at Rs 283.50.
In addition to above high gainers Blue Chip John Keells Holdings Plc closed at Rs 179.00, up Rs 7.50 while Distilleries Company of Sri Lanka Plc was up by four rupees to close at Rs 109.25.
There were 101 gainers & 47 losers for the day. Sri Lanka Telecom lost one rupee to close the day at Rs 45.00 while cellular market leader Dialog Telekom lost 25 cents to close at Rs 7.00.
 Foreigners purchased Rs 172.9 million worth of stocks & sold stocks valued Rs 236.7 million. According to brokers there are new foreign fund are waiting to invest in Colombo Market. We suggest that investors should hold or buy fundamentally sound stock such as NDB, DFCC, Commercial Bank & Distilleries to take advantage of future growth.

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Sri Lanka shares up! Heavy trading in selected stocks!

Wednesday, September 2nd, 2009 at 6:17 pm 
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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.

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Colombo Stocks up! Sharp gains in selected stocks!

Monday, August 31st, 2009 at 5:50 pm 
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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.

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Colombo Stock Market ends the week on positive note.

Friday, August 28th, 2009 at 4:33 pm 
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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.

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