weekly Stock Market Report Archives

CSE closed another negative week.

Friday, January 6th, 2012 at 7:33 pm 
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CSE closed another negative week.The first trading week of the year 2012 ended on a negative note. The main ASI Index fell 143.9 points for the week to close at 5,930.52 while Milanka index lost 146.01points to close the week at 5,083.15. Total turnover for the week amounted to 1.93 billion rupees compared to last week turnover of Rs 2.75 billion.

 

Coco Lanka Non Voting shares led the highest percentage gainers list by gaining 12.22 percent or 4.90 rupees to end the week at Rs 45.00. Environmental Resources Investments Plc (GREG) was down by 20.2 percent or 8.10 rupees to close at thirty two rupees. On Friday GREG has announced extension of conversion of warrants by another six months from February 2012 to September 2012.

 

During the week two new companies commenced trading namely Kalpitiya Beach Resort Ltd and Waskaduwa Beach Resort Ltd and closed at Rs 16.60 and 13.70 respectively.

 

1,681,700 shares of Commercial Bank of Ceylon Plc changed hands during the week under review and closed unchanged at 100 rupees. National Development Bank (NDB) was down by 10.10 to close at Rs 128.00 while Nation Trust Bank closed at Rs 55.90, down 1.10.

 

Foreign investors were net sellers with Rs 463.14 million worth of sales and Rs 308.72 million worth of purchases.

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A week of consolidation for CSE

Friday, March 25th, 2011 at 11:39 pm 
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Stock Market Report for the week ended 25th March 2011.
cse A week of consolidation for CSE
Market under review was not very active but there were huge deals in selected stocks. ASI was up by 55.33 points to close at 7240.27 while MPI closed 146.42 points higher at 6838.02. Turnover was amounted to Rs 14.35 billion compared to Rs 7.13 billion previous week. Market PER fallen to 25.66 times from 26.03 times last week. There were net foreign outflow of 2.01 billion rupees for the week.
Business Tycoon Mr. Harry Jayawardena has brought over a substantial stake in Pelwatte Sugar Industries (SUGA) during the week.
Senkadagala Finance a Finance company with smaller shareholder base listed by the way of introduction on during the week but no trades were reported. More small finance companies will be listed on in coming months as it is a mandatory under Central Bank directive.
Ceylon Cold Stores Plc was the highest percentage gainer for the week. Ceylon Cold Stores closed at Rs 799.10, up 199.10 or 33.18 pct. Tea Small Holder Factory gained 54.50 or 32.06 pct to end the week at Rs 224.50. Huge quantity of Sierra Cable traded on Friday and closed at Rs 5.90, up 1.30 for the week.
Guardian Capital (WAPO) was the top looser for the week under review as it was down by Rs 955.80 to close at Rs 294.20. The ten pct price band was imposed on both SUGA and WAPO on Friday until 7th April 2011.
Union Bank shares will start trading from 29th March while the basis of allotment of Free Lanka Capital IPO still to announce.
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CSE weekly Market Review.

Saturday, January 29th, 2011 at 12:04 am 
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www.stock market today.net CSE weekly Market Review.

Week ended 28th January 2011.

The Colombo Stock Exchange went through a correction phase during the week. Most of big cap stocks lost their value after gaining substantially in early days of this month. Benchmark ASI closed 61.52 points lower at 7192.49 while MPI which represents most liquid 25 stocks of the lost 127.33 points for the week to close at 7165.32.  The ASI overtook the MPI during the week with the remarkable growth in mid cap stocks. Retailers chased on poultry & plantation stocks. Market turnover increased to 19.42 billion rupees from 15.45 billion previous week.

Market Price Earning Ratio was down to 27.18 from 27.5 last week. There were net foreign outflow of 779.33 million rupees for the week

Important events of the week.

Lanka Aluminium Industries PLC
Mr. Dhammika made an offer to purchase all the issued and paid up ordinary shares representing the stated capital  of Lanka Aluminium Industries PLC other than the shares held by Mr. Kulappuarachchige Don  Dhammika Perera .

Hayleys Plc.
Mr. Dhammika and RCL in Rs. 20 b takeover bid of Hayleys. (official announcement still not made).

The Finance Plc
The Rs 1.6 billion public issue has been oversubscribed and closed.

December quarter financial results has started to coming in and most of them shows strong growth. Sri Lanka’s top Blue Chip JKH has released excellent results. BFL the leading  poultry faming company also achieved significant growth.

In terms of the SEC directive dated 14th September 2010, a 10% price band has been imposed on the following security/securities during the week under review.

  1. KAPI.N.0000  from 25-01-2011 to 15-02-2011.
  2. CWM.N.0000  from 27-01-2011 to 21-02-2011.
  3. ELPL.N.0000  from 27-01-2011 to 21-02-2011.
  4. HOPL.N.000   from 27-01-2011 to 21-02-2011.

Despite market drop during the week there were strong bullish trend witnessed in selected stocks namely TAFL, PCH, GRAIN and most of plantation stocks. There is a strong possibility to market begin its upward run during the next week.

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Weekly Stock Market Summary.

Saturday, June 5th, 2010 at 12:36 am 
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For the week ended 4th June 2010.
Colombo market received positive market moving news from the beginning of the week. First it was government announcement of import tax cut on vehicles & consumer electronic items. With tax cut announcement several listed firms that engaged in those business has risen sharply. The selling of 9.9% stake in Commercial Bank of Ceylon Plc (COMB) by DFCC Bank was the second market moving news. DFCC Bank made over Rs 3.7 billion net profit from the sale.
With the COMB transaction both DFCC Bank & COMB gained sharply. DFCC Bank closed the day at Rs 250.00, up 47.00 & COMB closed at Rs 266.75, up 17.50. According to brokers COMB stake was bought by a foreign investor. Although taking over of Bank in Sri Lanka is not an easy task with strict regulation of Central Bank I remember there were failed attempts to take over of COMB & Sampath Bank several years ago.
The All Share Index (ASI) closed the week at 4354.20, up 103.21 while Milanka Price Index (MPI) closed the week 206.99 points higher at 4968.34. Total equity turnover for the entire week was 18.44 billion rupees against 5.13 billion rupees recorded previous week.    
The takeover of controlling interest in Confifi Hotel Group by Lanka Orix Leasing Company (LOLC) was another major event that happened during the trading week.
Sampath Bank was up by 55.75 to close the week at Rs 339.50 while Hatton National Bank Plc (HNB) gained 22.25 to close at Rs 271.75.
In Motor sector Diesel & Motor Engineering Plc (DIMO) was up by Rs 202.50 to close the week at Rs 636.25 while United Motors Lanka Plc gained 25.25 to close at Rs 132.25. Lanka Ashok Leyland Plc closed at Rs 1325.00, up 100 rupees but on mere 200 shares.
Foreign investors were net sellers during the week with Rs 1.54 billion worth of purchases & Rs 3.10 billion sales.
During the week market touched new high. I predicted this success of Colombo Stock Market on 10th January 2009. Here is the article…
Why should you Bullish on Colombo Stocks.
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Weekly Colombo Stock Market Summary.

Saturday, May 8th, 2010 at 2:07 pm 
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Week ended 7th March 2010.
The benchmark All Share Index (ASI) closed at 4223.13, up 34.25 points for the week while Milanka Price Index (MPI) was closed at 4762.37, up 49.94 points. There was huge increase in equity turnover to Rs 13.49 billion for the week from 6.75 billion rupees previous week. Market Price Earnings Ratio (PER) has increased to 20.85 from 20.67 while market capitalization also increased to Rs 1,374.9 billion rupees from 1363.3 billion rupees previous week.
Nawaloka Hospital shares received good buying interest after they sold out their stake in lost making hotel group Galadari. Investors believe that the Nawaloka Hospital will improve their performance after this share sale. Nawaloka closed at Rs 6.75, up 2.05 or 43.62 percent. Asia Capital was up by 8.25 to close at Rs 32.00.
 Total foreign purchases were amounted to Rs 4.26 billion & their sales amounted to 2.24 billion rupees. March quarter corporate results were started to getting out & most of them were improved results.
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Weekly Stock Market Review.

Friday, March 26th, 2010 at 9:33 pm 
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 Week ended 26th March 2010.
There were large foreign to local transactions completed during the week. With Thursdays Hatton National Bank transaction Sri Lanka Government increased their holding in HNB roughly to 25%. Total equity turnover increased to 10.44 billion rupees from 7.86 billion in previous week. All Share Index closed at 3773.76, up 28.84 points for the entire week. Milanka Index managed to gain 72 points to end the week at 4391.22. Foreign net outflow amounted to 5.43 billion rupees.
Top five gainers for the week. (%)                                   
1.       Singlanka Chemicals was up by 40.00 (+36.36%) to close at Rs 150.00.
2.       Colombo Land (Warrants) gained 50 cents (+13.51%) to close at Rs 4.20.
3.       Commercial Development was up by 6.00 (+13.33%) to close at Rs 51.00.
4.       John Keells closed at Rs 194.50, up 19.50 (+11.14%).
5.       ACME closed at Rs 20.25, up 2.00 (+10.96%).
Top five losers for the week. (%)
1.       Metropolitan Resources lost 40.00 rupees (-58.18%) to close at 28.75.
2.        Mercantile Shipping was down by 42.00 rupees (-26.75%) to end the week at Rs 115.00.
3.       Elpittya Plantation Plc dipped by 9.00 (-21.18%) to close at Rs 33.50.
4.       Convenience Food lost 16.50 (-11.64%) to close at Rs 125.25.
5.       Blue Diamonds (Nonvoting) closed at 80 cents, down 10 cents (-11.11%).
In Fridays trading highly capitalized JKH managed to gain eight rupees to close at Rs 186.00. Total market capitalization stood at Rs 1221.9 billion rupees compared to Rs 1210.7 billion in last week.
Market will fluctuate within narrow range until General Election is over. Investors should invest in fundamentally strong stocks & not in speculative stocks. It will definitely bring positive results in long run.  
Market will reopen for next week trading on 30th March 2010 as 29th Monday is a public holiday (Full Moon Poya Day).
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