Printer Friendly

Sri Lanka: Market climbs at accelerated pace.

Sweden, Sept. 11 -- Acuity Stockbrokers Research Ltd in their review indicated that the 4 day trading week saw the market dipping marginally at the start of the week, but both indices climbed up at an accelerated pace to close All Share Price Index (ASPI) at 6023.4 and Melanka Price Index (MPI) at 6278.31. The ASPI records an all time high at Friday's close, gaining 142.9 points (2.4%) while the MPI gained 211.5 points (3.49%) WoW.

Total turnover for the week is Rs. 17.08bn which was an increase of 15.47% from last week's total of Rs.14.798bn. Share volumes traded this week was 353.4mn shares as against 503.18mn shares traded last week recording a decrease in volumes traded by 29.77%.

Highest contributors to Market turnover this week were the Diversified sector contributing 35.8% of the turnover amounting to Rs.6.1bn, overtaking the Banking and Finance sector which was holding this position last week.

The Banking and finance sector accounted for 19.5% of the total weekly turnover, amounting to Rs. 3.3bn.

The Diversified sector index gained 86.32 points to close at 2050 while banking and finance sector index gained 461.78 points week on week to close at 13144.47 Aitken Spence leads the list of top contributors to turnover recording Rs. 3.08bn representing 13.13% of total turnover.

Distilleries increased their holdings in Aitken Spence to consolidate its position as an associate company. JKH amounted to 4% of total turnover, posting Rs. 2.03bn.

SMB Leasing topped the list of heavily traded stocks this week with 48.1mn shares changing hands while Keells hotels traded 44.4mn shares respectively.

Foreign investors were net sellers this week amounting to an outflow Rs. 2.40bn as against a net selling of Rs. 340.4mn recorded last week.

Foreign purchases amounted to Rs. 1.98bn while foreign selling amounted to Rs. 4.39bn. Foreign trading levels sky rocketed on the second trading day and slowed down closer to end of this week with both buying and selling showing a increase of 57% and 173.68% respectively.

Alliance is the top price gainer for the week gaining 45.9% to close at Rs. 736. Reefcomber and Three Acre farms recorded 43.9% and 36.3% gains on price respectively. Top losers were Trans Asia losing 49.6% to Close at Rs. 186.2 followed by Ceylon Hospitals Ltd, losing 17% and The Finance Co. losing 15.9%

ASRL in their point of view indicated that the market took an early breather this week on the back of profit taking, however picked up pace and gathered momentum during the week's trading to close at an all time high with the ASPI surpassing 6000 points to close at 6023.41. The market has seen a 20% gain within the last 31 trading days taking the ASPI from the 5000 points range to this new high today. The Market capitalization currently stands at 1,983.09bn.

ASRL expect the current momentum to continue to the week ahead with investor interest in fundamentally strong stocks continuing to boost market activity.

For any query with respect to this article or any other content requirement, please contact Editor at

Copyright HT Media Ltd.

Provided by an company

COPYRIGHT 2010 SyndiGate Media Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2010 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Asian Tribune (India)
Date:Sep 11, 2010
Previous Article:Jeddah municipality organizing Eid celebrations for all.
Next Article:"TREAT TB" research aims for shorter and more effective MDR-TB treatment.

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters