Most of March quarter corporate results released so far were showing profit growth specially in Banking sector. At the end of Wednesday’s trading the benchmark All Share Price Index was up by 87.82 points to close at 5213.68 while more liquid Milanka Index closed 4683.43, up 66.54 points. Day’s market turnover amounted to 542.52 million rupees.

It is prudent to focus on stocks with better results with long-term view. There are good stocks that fallen to very attractive levels mainly due to depressed condition of the overall market.

Total of 193 stocks closed positively while only 27 stocks ended in negative territory. Multinational food giant Nestle was up by 37.90 to close at Rs 1197.90 while Colombo Dockyard Plc (DOCK) closed at Rs 207.90, up 6.90. DOCK’s March quarter net profit was up by 60 percent to Rs 745.2 million.

11,028,501 shares of Asiri Surgical Hospital Plc traded and closed unchanged at eight rupees. 90100 shares of Hotel Sigiriya Plc changed hands within the price range of Rs 66.30 to 75.00 and closed 6.60 higher at Rs 74.70.

Foreigners were net buyers with net inflow of Rs 66,380,565.00.

Related posts

• Sri Lanka Rupee & Stocks down (0)
• All Share Index closes 0.39% lower for the day (0)
• Sri Lanka Stocks closed lower – Motor Sector down sharply (0)
• Another bearish day at CSE (0)

Both ASI and MPI started positively but ended in red at the closing. The suspension of a Rs. 400 million The Finance deal added more fuel to the market downward run. However analysts warned this suspension will damage the credibility of the Market.

ASI lost 38.81 points to close at 5256.79 while MPI closed at 4714.78, down 26.91 points. Day’s total turnover amounted to 544.17 million rupees. Few crossings took place in JKH and PCH. Foreigners were net buyers with net inflow Rs 278,855,744.00.

156 stocks lost their value during the day’s trading while only 44 stocks closed higher. Hatton National Bank was up by 7.90 to close at Rs 159.00. Carsons Cumberbatch Plc closed at Rs 467.70, up 11.70. Illiquid Harshchandra Mills Plc was up by 825.50 to close at Rs 2480.70 but only 3 shares traded.

Ceylinco Insurance was down by 99.40 to end the day at Rs 900.50 while index heavy CTC lost 13.50 to close at Rs 685.50. Lanka Orix Leasing Company Plc closed at Rs 40.80, down 4.90.

Related posts

• What is Naked Short Selling? (0)
• Stock Trading Versus Forex Trading-Which Is Better? (0)
• Stock Short Selling (1)
• Stock market day trading (7)

Colombo stocks slipped further in to negative territory at the end of Thursday’s trading. ASI closed 27.70 points lower at 5389.47 while Milanka index fell 6.95 points to close at 4823.78. Day’s total turnover amounted to 470.29 million rupees. Despite the negativity foreign investors were net buyers with net inflow of Rs 103,951,363.00.

CTC was up by 9.50 to close at Rs 699.50 while 120,832 shares of Commercial Bank of Ceylon Plc (COMB) changed hands and closed 60 cents higher at Rs 105.70. The Finance Company Plc closed at Rs 34.30, up 1.30. More than 1.5 million shares of PC House traded and closed 20 cents higher at Rs 7.80. 3.3 million shares of People’s Leasing Company PLC traded and closed unchanged at Rs 11.50. People’s Leasing can be considered as an attractive long-term buy at current price.

Carsons Cumberbatch Plc was down by 13.60 to end the day at Rs 456.20. Lion Brewery, owned by the Carson’s Group closed at 220.00 and 219,865 shares changed hands.

DFCC Bank declared Rs 4.00 first and final dividend per share. DFCC Bank closed at Rs 120.50, up 50 cents.

Related posts

• All Share Index closes 0.39% lower for the day (0)
• Sri Lanka Stocks closed lower – Motor Sector down sharply (0)
• Sri Lanka Rupee & Stocks down (0)
• Holiday-Shortened Week ends on a positive note (0)

At the end of the Monday’s trading Colombo ASI dipped 21.32 points to close at 5419.20 while more liquid Milanka Index (MPI) lost 6.16 to end the day at 4851.24. Day’s total market turnover amounted to Rs 631.23 million.
105 stocks ended in negative territory while 84 stocks closed higher. Union Bank of Colombo Plc (UBC) was up by 2.10 to close at Rs 18.30. Asiri Hospital Holdings Plc closed at Rs 8.40, up 80 cents. In Hotels and Travels sector Renuka City Hotel Plc was up by 7.50 to close at Rs 203.90.Palm Garden Hotel Plc closed at Rs 150.00, up 3.90.
The Lighthouse Hotel Plc reported quarterly profit of 78.8 million rupees. It was a 64% growth compared to quarter ended 31st March 2011. Lighthouse Hotel closed 1.30 higher at Rs 46.30.
The Finance Company Plc lost 9.60 to end the day at Rs 34.40. Last Friday SL Government owned National Savings Bank (NSB) bought 13% stake in The Finance Company around Rs 40.00 to Rs 50.00 per share. The price paid by the NSB was above the market price of Rs 32.00 on last Friday.
Foreign investors sold Rs 225.33 million worth of stocks and purchased stocks valued at Rs 153.56 million.

Related posts

• Another bearish day at CSE (0)
• Sri Lanka Stocks closed lower – Motor Sector down sharply (0)
• Sri Lanka Rupee & Stocks down (0)
• Colombo Stocks up 1.71 percent (0)

According to the Reuters Sri Lanka’s rupee slid to a record low of 132.90 to the dollar on Wednesday as importers bought the U.S. currency on fears the local currency weaken further.

The benchmark All Share Price Index (ASI) closed marginally lower at 5440.01, down 3.97 points. Milanka index lost 4.89 points to close at 4886.80. Day’s market turnover amounted to 312.75 million rupees.

109 stocks closed in negative territory while only 56 stocks managed to close higher. Index heavy Blue Chip John Keells Holdings Plc was down by 70 cents to close at Rs 205.30 while Fixed wire line telecom leader Sri Lanka Telecom Plc lost 1.50 to end the day at Rs 44.50. Carsons Cumberbatch Plc closed at Rs 460.10, down 9.50.

Nestle Lanka Plc gained sharply to close 144.30 higher at Rs 1194.40. Colombo Dockyard Plc was up by 24.10 to close at Rs 224.10. Shares of Mackwoods Energy Ltd (MEL.0000) commenced trading today. MEL stocks closed 14.70 or 70 cents higher than its IPO price after touching high of sixteen rupees.

Foreign investors were net sellers with net outflow of Rs 19,845,457.00.

Related posts

• Colombo Stocks up 1.71 percent (0)
• Sri Lanka Stocks closed lower – Motor Sector down sharply (0)
• Colombo shares closed marginally higher after long weekend (0)
• All Share Index closes 0.39% lower for the day (0)

The Securities and Exchange Commission of Sri Lanka (SEC) has removed price band imposed on stocks with immediate effect. SEC imposed price band on stocks when price manipulations reached uncontrollable levels during bullish period of the CSE. However SEC further said that they will continue to watch the market and will take proper actions if needed.

Colombo Stock Exchange main stock index ASI was up by 111.25 points to close at 5518.72 while Milanka Index closed at 4939.80, up 32 points 65 points. Turnover for the day amounted to 359.35 million rupees.

In beverage & foods sector, CTC was up by 93.50 to close at 699 rupees while Nestle Lanka Plc closed at Rs 1000.00, up 30.00. Bairaha Farms (BFL) gained by 10.40 to close at Rs 134.00. In banking sector Commercial Bank of Ceylon Plc gained 3.30 to end the day at Rs 105.10 while its non voting stocks was closed at Rs 84.10, up 4.10. National Development Bank closed two rupees higher at Rs 125.00. Nation Trust Bank closed at Rs 55.00, up one rupee.

143 stocks made gains while only 41 stocks ended in negative territory. John Keells Holdings lost 3.50 and closed at Rs 205.00.

Rs 49 million net foreign inflow was recorded for the day.

Related posts

• Where is the Market Bottom? (1)
• Vote for the Best Stock Broker in Sri Lanka. (1)
• Stocks Start Fresh Week With Big Drop (4)
• Stocks lost despite development oriented 2012 Budget (11)

Colombo Stock Exchange resumed trading today after traditional Sinhala / Tamil new year celebrations. The benchmark ASI was up by 9.07 points to close at 5434.80 while MPI closed 20.26 points higher at 4929.56. However turnover was very low at 206 million rupees.

517,311shares of index heavy John Keells Holdings Plc traded and closed 30 cents higher at Rs 209.70 while 1,652,733 shares of Blue Diamonds Nonvoting changed hands and closed flat at Rs 2.70. Access Engineering Ltd was up by 90 cents to end the day at Rs 25.00 the IPO price of the stock. Ceylinco Insurance Plc closed at Rs 941.70, up 115.10.

CTC lost 7.30 to close at Rs 592.10. Nestle Lanka Plc lost 19.60 and closed at Rs 940.40 but only 5 shares traded. United Motors Lanka Plc was down by 4.40 to close at Rs 90.60.

Foreign investor activity was very low with net selling of Rs 33,166,086.00.

Related posts

• Sri Lanka Rupee & Stocks down (0)
• Colombo Stocks up 2% with the removal of the Price Band (0)
• Where is the Market Bottom? (1)
• Vote for the Best Stock Broker in Sri Lanka. (1)

At the end of Wednesday’s trading, Sri Lanka’s main stock index ASI closed 33.39 points higher at 5425.73 while Milanka Index closed at 4909.30, up 31.57 points. Extremely low turnover of Rs 155 million reported for the day as local investors stayed away from the market due to up coming traditional New Year Holidays.

137 stocks closed higher than previous day while 49 stocks ended in negative territory. Ceylinco Insurance Plc was up by 106.50 to close at Rs 826.60 while Nestle Lanka Plc closed at Rs 960.00, up 19.90. Index heavy John Keels Holdings Plc closed 40 cents higher at Rs 209.40. HVA Foods was up by 1.20 to close at fourteen rupees.

The Bukit Darah Plc was down by 19.00 to close at Rs 854.00. Access Engineering Ltd (AEL) closed 40 cents lower at Rs 24.10. Last month Access Engineering Ltd issued 20 million ordinary voting shares to the public at Rs. 25 each.

13,587,144 ordinary voting shares and 1,108,902 ordinary non-voting shares of the Commercial Bank of Ceylon Plc (COMB) were listed with effect from 11th April 2012, pursuant to a Scrip Dividend in the proportion of 1:56.333333 and 1:47.222222 respectively. COMB voting stocks closed 20 cents higher at 100 rupees.

Foreign investor participation was very low with only Rs 18.71 million worth of purchases and 12.41 million worth of sales.

Colombo Stock Exchange will reopen for trading on next Monday 16^th April 2012.

Related posts

• Commercial Bank of Ceylon 1st Quarter Net Profit Up 38 percent (0)
• Colombo Stocks up 2% with the removal of the Price Band (0)
• Colombo shares closed marginally higher after long weekend (0)
• Another bearish day at CSE (0)

Shares of Listed Motor Vehicle importers fell sharply on low quantities following a steep hike in tax on vehicles last week. United Motors Ltd, agent for Japan’s Mitsubishi Vehicles lost eight rupees to close at Rs 100.00 while Diesel and Motor Engineering Plc (DIMO) closed at Rs 829.40, down 152.80. Colonial Motors Plc was down by 48.80 to close at Rs 271.00. The Government of Sri Lanka last week increased import taxes on vehicles to limit foreign exchange outflow.

At the end of the Monday’s trading ASI closed at 5413.92, down 17.17 points while Milanka index closed 1.25 points lower at 4896.29. Day’s total market turnover amounted to 694.67 million rupees. 119 stocks closed lower while only 60 stocks managed to close higher at the end of the trading session. CTC was up by 24.90 to close at Rs 540.00. John Keells Holdings Plc closed at Rs 208.40, up 2.40.

Index heavy weight Sri Lanka Telecom Plc was down by 80 cents to close at Rs 45.50 while Distilleries Company of Sri Lanka Plc closed at Rs 140.50, down 4.50. Namal Acuity Value Fund (NAVF) the only listed closed end fund of the Colombo Stock Exchange lost two rupees to end the day at Rs 61.00. However net asset value of the NAVF as at 30^th March 2012 was amounted to Rs 81.83.

3,421,853 ordinary voting shares of the Colombo Dockyard Plc were listed on 02nd April 2012, pursuant to a Capitalisation of Reserves of Rs. 34,218,530 in the proportion of 1:20. Colombo Dockyard closed unchanged at Rs 230.00.

Foreign investors were net buyers with net inflow of Rs 33,778,879.00.

Related posts

• Sri Lanka Rupee & Stocks down (0)
• All Share Index closes 0.39% lower for the day (0)
• Where is the Market Bottom? (1)
• Vote for the Best Stock Broker in Sri Lanka. (1)

The Colombo Stock Exchange dipped on Tuesday amidst turnover remaining below Rs.600mn. Crossings were witnessed in Textured Jersey and Ceylinco Insurance during the day. Access engineering (AEL) closed at Rs.26.30 up 1.30 on its first day of trading. 1,222,719 shares of AEL changed hands. ASI closed at 5425.00, down 11.08 points while Milanka also lost 11.08 points and closed at 4862.79.

John Keells Holdings Plc (JKH) continues to attract investor interest and closed 1.20 higher at Rs 201.00. Environmental Resources Investments Plc (GREG) closed at Rs 17.10, down 80 cents. 2,284,952 shares of GREG traded during the day. Lanka Orix Finance Plc lost 30 cents to close at Rs 4.60 while Lanka Orix Leasing Plc (LOLC) closed at Rs 55.00, down 1.10. I still feel Lanka Orix Finance is overvalued but LOLC is trading at attractive valuations.

Ceylon Beverage Holdings Plc was up by 29.90 to close at Rs 349.90 but only 213 shares done. Ceylon Guardian Investments Trust Plc was up by 18.20 and closed at Rs 230.00. Hapugastenne Plantation Plc (HAPU) was up by 9.40 to end the day at Rs 39.70. Kegalle Plantation closed at Rs 114.30, up 3.10. Plantations companies with significant exposure to rubber may benefit with rising oil prices as synthetic rubber too going up with the crude oil. The depreciation of Sri Lankan Rupee is also an added advantage for plantation companies but unrest in Middle East may have negative impact on Sri Lankan Tea export.

Foreigners were net buyers for the day with net inflow of ,Rs 25,439,607.00.

Related posts

• Where is the Market Bottom? (1)
• Stocks Start Fresh Week With Big Drop (4)
• Stocks lost despite development oriented 2012 Budget (11)
• Stocks close higher for the fourth straight day (4)