Sri Lanka shares started the trading for fresh week with extremely positive note & ASI crossed the 4600 index mark. ASI was up by 51.43 points (+1.13%) to close at 4612.76 while MPI was up by 74.92 points to close at 5257.08. Total equity turnover amounted to 1.70 billion rupees.
Diversified blue chip John Keells Holdings (JKH) was the leading contributor for today’s Bull Run followed by Dialog Telecom Plc. JKH closed the day at Rs 204.00, up 3.75 while Dialog closed at Rs 9.00, up 25 cents. Due to heavy weight on indices JKH & Dialog can move indices significantly with small movement in their stock prices.
Sri Lanka’s only ship builder Colombo Dockyard Plc gained ten rupees to close at Rs 270.00. The monopolistic tobacco Company, Ceylon Tobacco Plc was up by ten rupees on 100 shares to close at Rs 310.00. Ceylon Leather Products Plc has gained 9.50 to end the day at Rs 240.00.
Rarely traded Colombo Pharmacy Plc lost 26.25 to close at Rs 400.00 while another illiquid company The Indo Malay Plc was down by 65.00 rupees to close at Rs 350.00 but only 100 shares traded during the day. Commercial Bank of Ceylon Plc lost 2.25 to close at 277.75 while Sampath Bank lost one rupee to close at Rs 344.75.
Total of 112 stocks gained today while 58 stocks lost their value. There were marginal foreign outflow today with Rs 145.04 foreign purchases & Rs 146.81 million sales.
Heavy interest in Banking & Diversified Holding sector drove the indices to new highs. ASI gained 203.13 to close the week at 4561.33 while MPI gained 213.82 points to close at 5182.16. Total equity turnover for the week amounted to Rs 13.13 billion rupees with an average daily turnover of Rs 2.62 billion. Total market capitalization stood at 1.486 trillion rupees, up by Rs 67.59 billion.
During the week Hatton National Bank Plc was up by 21 rupees to close at Rs 292.75 while DFCC Bank gained 15.25 to end the week at Rs 265.25. Commercial Bank was up by 13.25 to close at Rs 280.00. National Development Bank was up by 14.75 to close at Rs 247.00.
On Friday Carson Cumberbatch Group has announced a restructuring plan on their plantation assets in other countries. Carson Cumberbatch Plc has incorporated a wholly owned subsidiary to hold plantation assets. The name of that newly registered company is Goodhope Asia Holdings Ltd (GAHL) & it was registered in Singapore. Carson Group has announced improved results for the last financial year. Most of Carson Group stocks gained sharply on Friday.
In Hotels & Travels sector Trans Asia Hotel was up by 39 rupees to close at Rs 262.50 while Asian Hotels & Properties Plc closed at Rs 167.00, up 21.50.
Retailers may shift their investment trend from high valued stocks to low valued stocks (Midcap stocks) in coming days.
Foreigners were net sellers during the week with Rs 2.46 billion purchases & Rs 3.49 billion sales.
Now breaking of its own records becomes a normal activity for Colombo Stock Market. Today Colombo All Share Index (ASI) reached 4500 points but closed slightly below 4500 at 4496.24, up 31.83 points. Milanka Index (MPI) which is representing more liquid stocks gained 24.64 points to close at 5137.37. Turnover for the day was Rs 2.83 billion.
Cargills Ceylon Plc gained further 14.25 to close at Rs 132.25 & 289500 shares traded during the day. Carson Cumberbatch Plc was up by 15.75 to close at Rs 565.00. Diversified FMCG Company Hemas Holdings Plc closed at Rs 160.50, up 7.00.
Over 2.5 million shares of John Keells Holdings traded today & closed at Rs 2.25 higher at Rs 198.25 while Commercial Bank of Ceylon Plc (COMB) Rs 279.25, up 1.25. Over 3.3 million shares of COMB traded. National Development Bank was up by two rupees to close at Rs 247.00.
In hotel sector, Hotel Sigirya closed at Rs 74.50, up 4.75 while Reverina Hotels Plc gained 5.25 to end at Rs 105.00. Tangerine Beach Hotel was up by four rupees to close at Rs 110.00. Renka City Hotel Plc was down by 9.75 to end the day at Rs 240.00.
Foreigners sold 1.5 billion worth of stocks & purchased stocks valued 1.07 billion rupees.
Despite some analysts expected a correction, CSE continues to rise making huge gains for investors. CSE indices managed to reverse yesterday’s marginal losses & ASI closed at 4464.41, up 37.14 points & MPI also gained 26.87 points to end the day at 5112.73. Turnover was 1.72 billion rupees.
With the news of increased sales volumes in FMCG (Fast Moving Consumer Goods) Sri Lanka’s biggest retail Super Market operator Cargills (Ceylon) Plc has gained ten rupees to close at Rs 118.00. Ceylon Leather Products Plc was up by 35.25 (+17.28%) to close at Rs 239.25 while Commercial Bank of Ceylon Plc gained six rupees to close at Rs 278.00. Consumer Electronic products importer Abans Electricals Plc was up by 5.75 to end the day at Rs 203.75. Chevron Lubricant Lanka Plc closed at Rs 164.75, up five rupees.
Mercantile Shipping Company Plc lost 16.75 to close at Rs 153.00 while Nestle Lanka Plc slipped twelve rupees to close at Rs 650.00.
85 companies reported gains while 63 stocks lost their value. Foreign investors were net sellers today with Rs 122.98 million purchases & Rs 124.68 million sales. Market capitalization at the end of the day was stood at Rs 1.38 trillion.
Dividend Announcements for the day.
MALWATTE VALLEY PLANTATIONS PLC Company ID:- MAL Date of Announcement:-09 June.2010 Rate of Dividend:- Rs.1.00 per share Final Dividend Financial Year:- 2009 Shareholder Approval:- Required AGM:- 15.Jul.2010 XD:-16.Jul.2010 Payment:- 26.Jul.2010 Share Transfer Book Open
UNITED MOTORS LANKA PLC Company ID:- UML Date of Announcement:-09 June.2010 Rate of Dividend:- Rs.1.80 per share First & Final Dividend Financial Year:- 2009/2010 Shareholder Approval:- Required AGM:- 08.Jul.2010 XD:-09.Jul.2010 Payment:- 19.Jul.2010 Share Transfer Book Open
There was heavy buying interest in all most all the sectors. ASI gained 77.12 points (+1.77%) to close at 4431.32 while MPI ended the day 135.57 points higher at 5103.91. Turnover was 2.61 billion rupees.
Index heavy Dialog Telekom closed the day 75 cents higher at Rs 9.00 while highly diversified blue chip JKH closed at Rs 198.00, up eight rupees. Hatton National Bank was up by 10.25 to close at Rs 182.00. National Development Bank (NDB) closed at Rs 249.50, up 17.25. Sampath Bank ended the day twelve rupees higher at Rs 351.50.
Despite announced lower profit, Distilleries Company of Sri Lanka Plc managed to close the day Rs 2.75 higher at 125.25.
In Hotels & Travel sector Aitken Spence Hotel Holdings Plc was up by 9.50to close at Rs 424.50 while Serandib Hotels gained 11.25 to close at Rs 111.25. Trans Asia Hotels Plc closed at Rs 240.00, up 16.50.
Hemas Power Plc has announced issue of up to 400,000 unlisted Cumulative Redeemable Preference shares at Rs 1000/- per share. The said preference shares will be issued in two tranches & will offer to selected investors such as licensed commercial banks, financial institutions, Fund Managers & unit trusts by the way of Private Placement. Hemas Power Plc further said that the objective of the issue is to settle the bank loans obtained to acquire Upper Agra Oya Hydropower (Pvt) Ltd. The proposed preference shares will carry a dividend rate of 11.5% fixed for period of five years.
Foreign sales exceeded foreign purchases & reported a net outflow of funds. Foreigners bought Rs 188.6 million worth of stocks & sold stocks valued Rs 559.06 million.
