SRI LANKA - COLOMBO SHARE MARKETWAS UP BY 0.31% ON BACK OF FOREIGN BUYING

18/02/2010 - Colombo Share Market was up by 11.65 points to close at 3732.77. However Milanka price index was down by 10.01 points to close at 4259.24.

Turnover for the day was Rs 1.6 b.n.

Local investors were active in the market today as usual. However foreigners were active to some extent today in the market & witnessed a net foreign inflow of Rs 163 m.n. This was a very positive signal to the overall market where all the local investors were waiting foreigners / foreign funds to arrive at Colombo Stock Market soon after the presidential elections.
Many investors believe  foreigners would have  bought the JKH share to day on expectation of improved profit growth from the company in Dec 2009 quarter.

Foreign purchases were at Rs 241 m.n. & foreign sales were at Rs 78 m.n.

There were 96 price gainers as against 58 losers.

    TOP FIVE GAINERS FOR THE DAY                        TOP FIVE LOSERS FOR THE DAY

    CROSSINGS FOR THE DAY

    ACCOUNTS FOR THE NINE MONTHS ENDED 31/12/2009

Note - 

• There were several crossings in CIND an illiquid share. Sierra cables today sold 20.26 % holding in CIND . Still they owned 16.6% holding in CIND.

• CIND crossings took place @ Rs 230 - share.

• There are possibilities of increase the CIND share price further.

• JKH bought by foreigners - Unconfirmed news. Positive news for the market.

• Several JKH crossings took place @ Rs 170 - share.

• There are possibilities that share price of SIRA may go up further as a result of the sale of 20.26 % CIND stake @ Rs 230/share.