Colombo Stock Market has recovered strongly from the technical correction saw yesterday and the early part of today’s trading session. At the end of the Thursday’s trading, ASI was up by 52.83 points to close at 5,901.97 while MPI closed at 5,558.06, up 69.35 points. S&P SL 20 Index closed 27.97 points higher at 3,169.61. Turnover also healthy at Rs 941 million.

Despite heavy profit booking market managed to end the day in green showing bullish investor sentiment. AVIVA NDB Insurance Plc gained 27.20 to close at Rs 316.90 while Blue Chip John Keells Holdings Plc closed 1.40 higher at Rs 219.40. Haycarb Plc gone up by 15.80 to close at Rs 183.00. Heaycarb informed the CSE that it had bought a Thailand based activate carbon maker. In Banking sector, National Development Bank was up by 2.10 to close at Rs 130.00 while Nation Trust Bank Plc closed 1.90 higher at Rs 62.00. Hatton National Bank gained 1.50 to end the day at Rs 166.00.

Foreign purchases amounted to Rs 257,076,243 .00 whilst foreign sales amounted to Rs 181,270,594.00 resulting a net inflow. The CSE Bullish trend is likely to continue with time to time resistance due to profit booking. Overall market sentiment is still positive. However it is important to stick with fundamentally sound stocks rather than speculative ones.

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Market indices lost during the day despite high turnover. ASI lost nearly one percent to close at 4990.43 while MPI closed 26 points lower at 4452.51. Day’s total equity turnover amounted to 1.5 billion rupees.

10,217,600 shares of Balangoda Plantaions Plc changed hands and closed unchanged at 23.50. Madulsima plantations also traded heavily (9,003,000 shares) and closed at Rs 9.50. Both Madulsima and Balangoda Plantations are subsidiaries of Distilleries Group.

139 stocks closed in negative territory while only 62 stocks made gains at the end of the day’s trading. Market heavy weight John Keells Holdings Plc lost 3.60 to close at Rs 190.30 while Sri Lanka Telecom Plc closed 1.70 lower at 39 rupees. 571,237 shares of Commercial Bank of Ceylon Plc traded and closed at Rs 100.00, down fifty cents.

Foreigners were net sellers with sales amounting to Rs 91.4 million and Rs 33.6 million purchases.

Following two Companies will be listed on CSE by the way of Introduction.

P C H Holdings Limited

The CSE has approved, in- principle, an Application submitted by the above company for the listing of its Ordinary Voting Shares on the Diri Savi Board of the CSE. 252,000,242 Ordinary Voting Shares of the Company will be listed by way of an Introduction.

Copies of the Introductory Document will be made available by the Company to all the members Firms and Trading Member Firms shortly.

The Ordinary Voting Shares will be granted a listing on or before the 3rd market day upon receipt of the Declaration from the Company. Such details will be forwarded to you in due course.

Beruwala Resorts Limited

The CSE has approved, in principle, an Application submitted by the above Company for the listing of its Ordinary Voting Shares on the Diri Savi Board of the CSE. 600,000,000 Ordinary Voting Shares of the Company will be listed by way of an Introduction.

Copies of the Introductory Document will be made available by the Company to all the members Firms and Trading Member Firms shortly.

The Ordinary Voting Shares will be granted a listing on or before the 3rd market day upon receipt of the Declaration from the Company. Such details will be forwarded to you in due course.

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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.

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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.

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At end of bearish week Colombo Stocks ended Friday’s trading with positive note. ASI was up by 72.63 points to close at 5422.33 while more liquid Milanka Index closed at 4847.86, up 67.04 points. Friday’s total market turnover amounted to 927.07 million rupees.

Index heavy John Keels Holdings Plc was up by 3.70 to close at Rs 194.80 while Capital Development and Investment Company Plc closed 49.90 higher at Rs 300.00. Colombo Dockyard Plc closed at Rs 245.00, up 11.60. Property Development Plc owners of the Bank of Ceylon Head Office Building closed 6.20 higher at Rs 51.20.

176 stocks closed higher while 34 stocks ended in negative territory. CT Holdings Plc lost three rupees and closed at Rs 152.00. National Development Bank closed 2.50 lower at Rs 120.70. Ceylinco Insurance Plc was down by twenty five rupees and closed at 725.00.

The shares of the Access Engineering Limited would be listed on the Diri Savi Board of the CSE and will be classified under the Construction and Engineering sector. Access Engineering Limited will start trading on 27th March 2012 under assigned security code of AEL-N-0000 .

Initial Public Offering of Mackwoods Energy Limited for 25,000,000 shares has been oversubscribed at an issue price of Rs 14/-. Mackwoods Energy IPO was closed yesterday.

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Despite falling Rupee, Monday’s net foreign inflow amounted to Rs 2,532,499,670.00. According to the brokers a foreign investor bought a five percent stake in Aitken Spence (SPEN). A fully owned subsidiary of Distilleries Company of Sri Lanka already announced a mandatory offer to buy 100% issued shares of SPEN. However SPEN closed 80 cents higher at Rs 116.00.
At the end of Monday’s trading Colombo All Share Index (ASI) closed almost unchanged at 5449.46 while Milanka Index closed at 24.83 points higher at 4889.08. Total turnover for the day amounted to 3.13 billion rupees.

John Keells Holdings Plc (JKH) continues its upward trend and closed 4.90 higher at Rs 200.00. CTC was up by 8.40 to close at Rs 509.10.

118 stocks lost their value today and only 77 stocks made gains. Illiquid Lanka Ashok Layland Plc was down by 248.60 to close at Rs 2241.40 while Selinsing Plc, a Carson Group Company closed 207.40 lower at Rs 1102.60. Index heavy Sri Lanka Telecom Plc lost 2.80 to close at Rs 45.70. Softlogic lost 10 cents and closed at Rs 12.80.

Mackwoods Energy Limited will open it’s IPO subscription list on 22^nd March 2012. Mackwoods Energy is offering 25,000,000 Ordinary Voting Shares at a Price of LKR 14.00 per share.

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The local to foreign deal in John Keells Holdings (JKH) was the main activity during the Friday’s trading. A Malaysian based Khazanah Nasional Berhad Fund bought nearly 8.8 percent of the JKH’s issued capital at Rs 194.00 per share. With this transaction Sri Lanka will be benefited with much needed foreign exchange to defend the falling rupee.

The benchmark Colombo ASI was up by 51.85 points to close at 5449.05 while Milanka Index closed at 4864.25, up 30.57 points. Total market turnover amounted to15.68 billion rupees the highest daily turnover reported in recent history.

154 stocks made gains while 53 stocks closed lower. Sri Lanka Telecom was up by 1.50 to close at Rs 48.50. Ceylon Grain Elevators Plc was up by 5.70 to close at Rs 63.90 while Three Acre Farm Plc closed 5.20 higher at Rs 54.20. BFL closed at Rs 132.80, up 3.80. Softlogic closed 10 cents higher and 1,627,300 shares done.

1,310,667 shares of Commercial Bank of Ceylon Plc changed hands and closed unchanged at Rs 100.00. In Motor sector, United Motors Lanka Plc closed four rupees higher at Rs 117.00 while Sathosa Motors closed at Rs 235.00, down two rupees.

Kegalle Plantation Plc lost 5.50 to close at Rs 91.50 while Hapugastenne Plantations Plc closed two rupees lower at Rs 38.00.

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Activities of the Colombo Stock Exchange (CSE) remains to be lackluster due to upward trend in interest rates and sign of economic slowdown. The Central Bank on Friday said it will lower its 2012 growth forecast of eight per cent to a figure no lower than seven per cent.

The benchmark All Share Index lost 1.20 points to close at 5423.26 while Milanka Index closed 5.94 points lower at 4803.51. Day’s total turnover amounted to Rs 522.39 million. John Keells Holdings Plc (JKH) has contributed Rs 267.81 million for the total turnover. 1,380,485 shares of JKH changed hands and closed 70 cents higher at Rs 194.00. JKH has outperformed the market since last month.

Commercial Bank of Ceylon Plc (COMB) has announced listed debenture issue worth one billion rupees. COMB closed 50 cents lower at Rs 99.20.

113 stocks closed lower while only 80 stocks closed higher than the previous closing prices. Index heavy weight Sri Lanka Telecom (SLTL) was up by 80 cents to close at Rs 48.00. Aitken Spence Hotel Holdings Plc was up by 3.60 to close at Rs 71.30. Ceylinco Insurance Plc closed at Rs 799.90, up 49.90.

BUKI lost seventeen rupees to close at 866.80 while Agstar Fertilizers Ltd closed at Rs 14.40, down 5.40. People’s Leasing Company Plc lost 40 cents to close at Rs 11.60.

Net foreign inflow of Rs 164,538,389.00 reported for the day.

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Colombo Stock Exchange daily turnover dipped just to 381 million rupees at the end of Friday’s trading. 105 stocks closed lower while 95 stocks closed higher. ASI was closed flat at 5456.27 while Milanka Index closed at 4821.64, up 37.71 points. Milanka Index gained mainly due to Rs 4.20 gain in Aitken Spence (SPEN) and Rs 3.20 gain in JKH. SPEN closed at Rs 119.30 while JKH closed at Rs 189.30.

Aitken Spence Hotel Holdings Plc was up by 3.40 to close at 70 rupees. BUKI lost 24.10 to end the day at Rs 925.90 while CTC lost 9.70 and closed at Rs 505.30 however only 75 shares traded. Environmental Resources Investments Plc (GREG) closed 40 cents lower at Rs 16.60.

Foreigners purchased stocks valued at Rs 73.16 million and sold 22.89 million worth of stocks resulting net inflow of Rs 50,276,982.00.

Access Engineering Limited Initial Public Offering

The company informs the details of payments received by way of Bank Guarantees, Bank Drafts and Cheques before rejects:

13 Bank Guarantees – 17,275,000 shares for Rs. 431,875,000.00

991 Bank Drafts and Cheques – 13,645,000 shares for Rs. 341,125,000 .

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CSE 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 IPO has been oversubscribed and closed 4.30 PM today.

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