Colombo share market was down by 1.08% due to the price decline of Environmental Resources Investment share .

                                          DAILY MARKET REVIEW

31/03/2010 – Colombo share market was down today as a result of the steep price decline of the GREG share after the expiry of its rights issue date being 30/03/2010. Environmental Resources Investment share [GREG] has a strong relationship with the market index.

ASI was down by 40.48 points to close at 3724.59 & the Millanka Price index was down by 93.60 points to close at 4270.73.

Turnover for the day was Rs 904 m.n.

Foreign participation was at low level. Foreigners purchased shares to the value of Rs 181m.n. & sold shares to the value of Rs 237 m.n.,reported net foreign out flow for the day was Rs 56 m.n.

Diversified sector was in the highest performing sector which reported marginal improvement today by reporting a growth of 0.83%. The worst performing sector was the Investment trust sector with a negative growth of 23.69% purely due to the price decline in GREG share.

There are 60 positive gainers as against 69 losers.

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

 LARGE VOLUMES TRADED                                                                LARGE TRADES FOR THE DAY

 CROSSINGS FOR THE DAY

 CLOSER LOOK

•  Environmental Resource Investment company  share price came down today due to the expiry of rights issue dates.

• Due to this shares of most of other companies also came down.Further retailers continue to book profits in the market ahead of General Elections & New year as well.We also witnessed there were some degree of forced selling by several broker firms in order to maintain the required margins of their clients.All of these factors led market to perform negatively today.

•  This is a very good opportunity for the new investors to enter to the market,since prices most of valued shares were @ attractive levels.Existing investors have a great opportunity to average or minimize their cost of the portfolio by purchasing shares of fundamentally strong companies @ reduce prices.

• Commercial bank of Ceylon  has announced  a  subdivision it's ordinary shares on the basis of 1 share for every 02 shares held today.

• As per the Colombo Stock Exchange, the recently concluded two IPO'S were fully oversubscribed.These companies together with other companies which have announced the rights issues had tied up the cash flows of the investors.This is one of another reasons for the negative performance of the market today.  

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