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On a Recovering Mode…. 16th March 2011


16 March 2011 12:23 pm - 0     - {{hitsCtrl.values.hits}}


The All Share Price Index gained 86.6 points to close at 7,115.6 points (+1.2%), whilst the Milanka Price Index also gained 35.0 points to close at 6,643.7 points (+0.5%).

The total turnover was LKR903.7 mn (USD8,186.4 k) vs.12-month average daily turnover of LKR2,777.3 mn (USD25,134.0 k) whilst the volume traded for the day was 33,468.8 k against the 12-month average daily volume of 93,470.1 k.

Top traded counters were Lion Brewery Ceylon LKR68.4 mn (USD619.0 k, +4.6%), Lanka Walltile LKR57.1 mn (USD516.7 k, +3.0%), Colombo Dockyard LKR43.7 mn (USD395.5 k, +1.6%), Colombo Fort Land and Building LKR43.4 mn (USD392.8 k, +6.0%) and Ceylon Grain Elevators LKR40.9 mn (USD370.1 k, +0.4%).

Colombo bourse regained the lost momentum with institutional and retail participation where both indices inched back to the green territory though lower turnover level was seen during the day. Lion Brewery saw renewed institutional buying interest. Further the counter saw circa 350 k shares changing hands during the day. All round investor participation was evident in Lanka Walltile and Colombo Dockyard whilst strong retail interest was seen in Colombo Fort Land and Building. Further, Ceylon Grain Elevators continued to attract mixed investor interest during the day.

Further, Japan’s catastrophe has rapidly deteriorated the global rubber prices whilst Sri Lankan rubber prices will also swiftly drop in the short run. Thus we believe plantation sector earnings will dip in coming quarters. However Japan’s initiation of rebuilding the economy will increase the demand for rubber. 

Net inflow of foreign funds was seen during the day, where foreign purchases amounted to LKR113.0 mn (USD1,022.6 k), whilst foreign sales amounted to LKR90.6 mn (USD819.9 k).

TKS Securities (Pvt) Ltd 

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