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Thursday, April 29, 2010 - 10.22 GMT |
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CSE gains 2.79% week-on-week basis |
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CSE gained 2.79 % (112.09 points) on a week on week basis to end at 4,121.64 points on Tuesday (27), according to the Colombo Stock Exchange Midweek Market Report.
The Colombo bourse gained significant points primarily on Thursday and Friday over bullish buying in the hotel sector, plantation sector and selected counters in the diversified, banking and food & beverage sectors.
Profit taking was evident in some of the hotel stocks mostly during Tuesdays’ trading which resulted in both the market indices, the All Share Price Index and the Milanka Price Index (MPI), registering marginal losses of 0.04% (1.59 points) and 0.18% (8.58 points) respectively over Mondays’ close.
The MPI closed at 4,694.98 points on Tuesday gaining 2.52% (115.19 points) W/W.
Market activity levels improved during the period under review as a few high value negotiated deals took place along with high retail participation. The total market turnover for the week was LKR.9.98Bn while the average daily market turnover was LKR.2.00Bn.
A quantity of 1,754,000 shares of John Keells Holdings (JKH) traded through a few negotiated deals at a price of LKR.185.00 on Tuesday. JKH contributed a turnover of LKR.677.33Mn to Tuesdays’ market turnover on the back of more than 3.66Mn shares changing hands. The stock closed at LKR.185.00 on Tuesday.
Environmental Resource Investments (GREG) rights which began trading on the 16th Friday traded actively during the period under review, primarily on Friday (23rd April), however the counter lost 12.18% (LKR24.25) over Thursdays’ close amid heavy selling pressure. A total of 1.93Mn shares of GREG rights traded on Friday alone generating a turnover of LKR.327.38Mn. The share closed at LKR.178.50 on Friday while the GREG normal shares closed at LKR.106.00 on Tuesday.
John Keells Hotels (KHL) traded heavily during the period under review hitting a high of LKR.21.50.00 during Mondays’ trading. However profit taking caused the share price to fall from a price of LKR.23.00 which was reached during last Tuesday. KHL closed at LKR.20.25 on Tuesday.
Hotel Services (SERV) too was in the lime light during the period in concern. The counter traded at a high of LKR.32.00 during the week, before closing at LKR.31.75 on Tuesday. High volume negotiated deals associated with SERV were a constant sight during the period in concern.
Among the plantation stocks that traded heavily with significant price appreciation were Kotagala Plantations, Kegall Plantations, Agalawatte Plantations, Kelani Valley Plantations & Balangoda Plantations.
Lanka Orix Leasing Company, C.W.Mackie, Seylan Bank non voting, Sigiriya Village, Richard Peiris, Marawila Resorts, Ceylon Grain Elevators, Ceylon Leather products, Colombo Land, Sampath Bank & Hayleys traded actively with notable price appreciations during the period under review.
Foreigners ended the week under review as net sellers with foreign sales worth of LKR.3.23Bn against foreign purchases of LKR.1.53Bn which resulted in a net foreign outflow of LKR.1.69Bn.
| DATE |
ASPI |
MPI |
ASPI Change(%) |
Market Turnover |
| 21st April 2010 |
4,038.89 |
4,619.48 |
0.41 |
2,229,542,209 |
| 22nd April 2010 |
4,077.55 |
4,676.78 |
0.96 |
2,314,220,825 |
| 23rd April 2010 |
4,121.64 |
4,695.83 |
1.08 |
1,781,218,021 |
| 26th April 2010 |
4,136.05 |
4,703.56 |
0.35 |
1,617,591,348 |
| 27th April 2010 |
4,134.46 |
4,694.98 |
-0.04 |
2,039,008,414 |
| DATE |
Foreign purchases |
Foreign Sales |
Market Turnover |
| 21st April 2010 |
269,269,775 |
809,334,365 |
2,229,542,209 |
| 22nd April 2010 |
591,309,655 |
812,667,925 |
2,314,220,825 |
| 23rd April 2010 |
94,273,482 |
451,171,737 |
1,781,218,021 |
| 26th April 2010 |
350,984,210 |
365,416,775 |
1,617,591,348 |
| 27th April 2010 |
225,436,470 |
787,361,608 |
2,039,008,414 |
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