ASI was down marginally by 3.15 points to close at 3770.40 & the Milanka price index was down by 16.31 points to close at 4315.20.
Foreign participation was at very low levels. Foreigners purchased shares worth of Rs 31 m.n. & foreign sales were at Rs 57 m.n. Net foreign out flow reported for the day was Rs 26 m.n.
We expect profit taking to continue on selected counters in coming days.However bargain hunters will arrive to the market to grab shares when ever they see any opportunities created due to reduction of prices in those counters.
If we analyze immediate past it is very clear that the investors who hold to their stakes, without selling were benefited mostly.
There were 65 positive counters as against 72 negative counters.
Colombo Share Market is still up 11.4 percent so far this year, following a 125 percent rally in 2009, one of the best in Asia.
TOP FIVE GAINERS FOR THE DAY TOP FIVE LOSERS FOR THE DAY
LARGE TRADES FOR THE DAY
CROSSINGS FOR THE DAY
- Today a block of 3.7.m.n shares of HNB ASSURANCE change hands @ Rs 50 /share.
- We expect that price of HASU may increase in near future as result of this transaction & for the following as well.
- HASU reported a profit of Rs 202 m.n. for the year ended 31/12/2009 as against Rs 165 m.n. reported for the same period in 2008, a growth of 23% YOY.
- E.P.S. for the period ended 31/12/2010 was Rs 5.40. & N.A.V. per share stands @ Rs 22.20.
- HASU has a P.E. Ratio of 9.0
- Strong HNB brand name & 59.99 % is owned by HNB.
- Pending dividend of Rs 1.50.
- We have identified HASU is a good stock to buy on considering the future growth of the company.