After several of bearish trading days CSE ASI was up by 1.31 percent or 76.52 points to close at 5919.35 while more liquid Milanka Index closed at 5167.81, up 79.56 points. Turnover however continue be low as Holiday Season is getting closer. Day’s turnover amounted to Rs 348.96 million.

165 stocks closed higher than yesterdays closing prices while 24 companies lost their value during the day. Index heavy SLTL was the main contributor for todays index upturn by gaining 1.70 to close at Rs 46.00. Hatton National Bank was up by six rupees to close at Rs 150.00. HDFC closed at Rs 1360.00, up forty rupees. Highly illiquid and rarely traded Harishandra Mills Plc closed 90 rupees higher at Rs 2990.00 but only 100 shares traded.

Expolanka Holdings Plc said it had acquired 50% stake in Norfolk Food (Pvt) Ltd with controlling powers for 300 million rupees. Norfolk Food is a small unlisted company in processed meat production industry. 1,614,100 shares of Expolanka changed hands today and closed 20 cents higher at Rs 8.70.

Foreign activity was was very low with Rs 33.89 million worth of purchases and Rs 70.09 million sales.

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CSE Press Release.

The composition of the companies in the MILANKA Price Index with effect from 1st January 2012 is as follows:

New Inclusions for the 1st Half 2012

Central Finance Company PLC

Colombo Land and Development Company PLC

DFCC Bank

Free Lanka Capital Holdings PLC

Lanka Orix Leasing Company PLC

Vallibel One PLC

Union Bank of Colombo PLC

Exclusions from the 2nd Half 2011

Dialog Axiata PLC

Hemas Holdings PLC

Janashakthi Insurance PLC

John Keells Hotels PLC

Merchant Bank of Sri Lanka PLC

Nawaloka Hospitals PLC

Pan Asia Banking Corporation PLC

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The main All Share Price Index fell 0.54 percent or 31.73 points to 5860.96, while the more liquid Milanka index (MPI) dropped 0.57 percent or 29.27 points to close at 5105.41, according to stock exchange closing figures after Monday’s trading. Turnover was amounted to 537.64 million rupees.

There were 85 gainers and 79 losers for the day. Price declines in index heavy JKH and BUKI was the main reason for today’s sharp fall in indices. JKH lost 3.30 to close at Rs 170.10 while BUKI closed at Rs 1006.20, down 67.40.

Hatton National Bank lost 4.50 to close at Rs 141.00 while Sampath Bank closed at Rs 193.80, down 3.60. Commercial Bank of Ceylon Ltd (COMB) closed one rupee higher at Rs 100.00. COMB has received Sri Lanka’s ‘Bank of the Year’ award from UK based The Banker’ Magazine. Both COMB and Sampath Bank shares are currently trading at attractive valuation.

IPO subscribers under Retail Category for both Kalpitiya Beach Resorts Limited and Waskaduwa Beach Resorts Limited will get in full quantity they asked.

Foreign investors were net buyers with net inflow of Rs 59,552,21100.

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Stock market activity is slowing down ahead of the upcoming Holiday Season. ASI fell by 9.67 points to close at 5941.32 while MPI lost 37.48 points to close at 5190.97. Total market turnover amounted to 468.74 million rupees. Only 49 stocks were able close higher while 123 stocks closed lower.

Dialog Axiata has signed a Share Purchase Agreement with all shareholders of Suntel Ltd to acquire 100 percent of shares of the Suntel Ltd. 1,173,400 of Dialog changed hands during the day and closed 20 cents higher at Rs 8.00 after touching 8.10.

Ceylon Tea Services Plc was up by 40 rupees and closed at Rs 680.00 but only 100 shares traded. CTC closed at Rs 471.70, up 18.70. Diesel and Motor Engineering Plc (DIMO) was up by 35 rupees to close at Rs 1300.00.

John Keells Holdings Plc (JKH) was down by three rupees and ten cents causing biggest damage to the indices.JKH closed at Rs 176.70. Carsons Cumberbatch Plc lost 9.40 to close at Rs 541.50. Environmental Resources Investments Plc was closed at Rs 39.80, down 1.70.

Most of recently listed (during the current year) Companies are now trading well below their issued price. Expo Lanka issued at Rs 14.00 now trading at Rs 8.60. Free Lanka Capital Holdings had their IPO at five rupees per share and now trading at Rs 2.90. Softlogic IPO was done at Rs 29.00 but currently trading around Rs 16.00.

However current market prices of most Blue Chip companies are very attractive for investors looking for long term investment opportunities.

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At the end of the Monday’s trading Colombo All Share Index lost 31.44 points to close at 5965.00 while Milanka Index lost 2.72 points to close at 5228.40. Total Market turnover amounted to 664.57 million rupees. 144 stocks closed lower while only 27 stocks closed higher than previous day.

Index heavy Dialog lost 20 cents to close at Rs 7.70. Environmental Resources Investments Plc (GREG) was down by 2.30 to close at Rs 46.10. Most of Plantation stocks closed lower today. Hapugastenne Plantations Plc was down by 3.40 to close at Rs 41.60 while Madulsima Plantations Plc closed at Rs 15.30, down 1.40. Kotagala Plantations Plc closed 1.30 lower at Rs 65.70. As per 2012 Budget SL Government is going to takeover unused lands leased to Plantation companies.

Commercial Bank of Ceylon Plc (COMB) was up by 20 cents to close at Rs 99.20. More than 350,000 shares of COMB traded during the day. Over 1.1 million shares of Distilleries Company of Sri Lanka changed hands and closed 10 cents lower at Rs 149.90.

Foreign investors were net buyers with Rs 249.15 million worth of purchases and Rs 244.45 million in sales. It is better to focus on fundamentally strong stocks these days as they are trading at attractive valuations.

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At the end of the Thursday’s trading the benchmark Colombo All Share Index (ASI) lost just 1.60 points to close at 6027.19 while Milanka Index fell 0.81 to close at 5248.97. Market turnover was very low at Rs 517.07 million.

82 stocks closed higher while 85 stocks closed lower than previous day’s closing prices. Market Heavy Weighted John Keells Holdings Plc was up by 1.50 to close at Rs 173.60 while Capital Development and Investment Company Plc (CDIC) closed at Rs 319.00, up 28.30. CTC closed 4.20 higher at Rs 449.20. Commercial Bank of Ceylon Plc (COMB) the largest private sector commercial bank in Sri Lanka lost one rupee to end the day at Rs 100.00. 214,600 COMB shares changed hands during the day. TFIL closed 20 cents lower at Rs 21.90.

Dunamis Capital Plc (CSEC) has announced a major fraud committed by a senior employee in a subsidiary estimated to Rs 105 million. CSEC lost 2.70 to close at Rs 15.00. First Capital Holdings Plc (CFVF) also made an announcement of estimated 160 million worth of fraud and closed 1.50 lower at Rs 15.50.

A former Member of Parliament  Mr. Thilak Karunaratne was appointed as the chairman of the Securities and Exchange Commission (SEC). Hope he will be able to do his job without any interruption from other high profile individuals connected to the market.

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Colombo All Share Index (ASI) slipped back in to below 6000 level. ASI lost 91.94 points to close at 5995.92 while Milanka index lost 90.63 points to close at 5155.95. John Keells Holdings Plc (JKH) was the biggest contributor for todays index drop. Index heavy JKH was down by 6.10 to close at Rs 162.10. More than 4.5 million shares of JKH traded during the trading session. Day’s total turnover was amounted to 1.57 billion rupees.

Hayleys Plc lost 23.90 to close at Rs 364.90. But only 900 Hayleys shares traded for the day. 3,006,100 shares of Hatton National Bank changed hands and closed five rupees lower at 145.00. Ceylinco Insurance voting stocks fell 21.80 to end the day at Rs 628.20.

Total of 168 stocks lost their value during the day while only 23 stocks managed to close higher. Entrust Securities closed 6.90 lower at Rs 63.80. Trade Finance & Investment Ltd was down by 50 cents to close at Rs 21.90.

Foreign investors purchased Rs 83,986,880 .00 worth of stocks and sold stocks valued at Rs 317,115,797 .00 resulting a net foreign outflow.

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Colombo Stock Exchange Press Release…..

CIMB and the Colombo Stock Exchange (“CSE”) jointly concluded a Sri Lanka Corporate Day in Kuala Lumpur, Malaysia on the 30th November 2011, themed “Invest Sri Lanka: Opportunities in an New Era”. This conference aim was to provide a snapshot of what lies ahead for the Sri Lankan economy and why Sri Lanka is one of the most exciting investment destinations currently in the world.
The one day conference showcased nine Sri Lankan corporates from a range of sectors including banking and finance, tourism and leisure, construction, logistics and telecommunications.

“We believe that Sri Lanka is on the cusp of tremendous growth, and has the potential to provide significant returns to investors. Many of our ASEAN clients are already present there, and we would like to encourage more to look towards this dynamic nation as a positive long term investment destination,” said Dato’ Sri Nazir Razak, Group Chief Executive, CIMB Group.

“CIMB wants to be part of Sri Lanka’s South Asian hub for commerce. As the first international investment bank to open a local office in Sri Lanka, we are uniquely positioned to help not just our Malaysian clients but our ASEAN clients to take advantage of the investment opportunity presented in this new and exciting emerging economy,” he continued.

“The end of the conflict and the consequent improvement in the economy and corporate performance saw the All Share Price Index of the CSE achieving remarkable heights in the years 2009 and 2010, with the CSE being ranked as the second best performing market in the world in both years. The positive market activity reflects the new trajectory that has been forged for economic growth in Sri Lanka,” said Mr. Krishan Balendra, Chairman, Colombo Stock Exchange who spoke at the event.

“With the near and medium term outlook strong for our economy, the timing could not be better for the CSE, the Sri Lankan capital markets and for investors. We believe that this is just the beginning and we invite you to share in our progress,” Mr. Balendra concluded. Mr. Ajith Nivard Cabraal, Governor, Central Bank of Sri Lanka was also upbeat about the future of Sri Lanka as an investment destination in his keynote address at the conference. “Sri Lanka is on a high growth trajectory supported by sound macro-economic fundamentals. In spite of the challenges posed by global uncertainty such as the
Eurozone debt crisis, we have managed to maintain high and broad based economic growth, low interest rates, a declining unemployment rate and control inflationary pressures,” the Governor said.

Foot Note:
Please contact Ruchira or Sumudu of “Market Development” Division of the Colombo
Stock Exchange for photographs.
Tel : 2356518, 2356511

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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.

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CSE Press Release
As per CSE Circular No. 01-12-2008 dated 8th December 2008, in the event the  Milanka Price Index (MPI) drops 5% within the day from the previous market day’s  close, a ‘Market Halt’ will be imposed on all equity securities for a period of 30  minutes.

A Market Halt is used internationally by stock exchanges as a procedure for  volatility management. Under such procedures trading may be halted temporarily  or, under extreme circumstances, a market may be closed prior to normal close of  the trading session.

At 10.57 a.m. on 25th November 2011 the MPI dropped over 5% from the previous  market day’s close, prompting the CSE to impose a market halt of 30 minutes from  11.00 a.m. to 11.30 a.m. The market halt was lifted at 11.30 a.m.  On further inquiry, the CSE noted that the MPI had dropped by over 5% due to an  error trade relating to 1,200 shares of Distilleries Company of Sri Lanka PLC at  Rs. 100.00. The closing price of Distilleries Company of Sri Lanka PLC shares on 24th  November 2011 was Rs. 149.60. The relevant Broker Firm has notified the CSE  regarding the error trade.

The CSE will be conducting an inquiry into this error trade.

Source – cse.lk

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