JOHN KEELS HOLDINGS LEADING THE COLOMBO STOCK EXCHANGE

                                              DAILY MARKET REVIEW

24/03/2010 – Colombo Share Market was reported negative growth today as well for the eight consecutive day due to continues profit taking by the retail investors & Debt clearing operations carried out by several broker firms ahead of financial year end on 31/03/2010.

ASI was down marginally by 7.95 points to close at 3722.72 & the more liquid Milanka index was down by 0.46 points to close at 4320.60.

Turnover for the day was Rs 1.8 b.n. which was well supported by the several large transactions in John Keels Holdings & Distilleries Company of Sri lanka.

Foreigners were net sellers for the day. They purchased shares worth of Rs 488 m.n. & sold shares worth of Rs 1.0 b.n. which resulted a net foreign out flow of Rs 595,000 for the day.

There were 43 gainers as against 72 decliners.

Land & Property sector improved by 1.36% mainly due to the price hike in Colombo Land & Development Company, followed by Beverage Food & Tobacco sector. Trading sector with a 3.6% decline was the biggest losing sector for the day.

Colombo Dockyard has declared a dividend of Rs 8.00 / share.

Company                           Trading Price            Dividend Rate        XD Date         Dividend Yield

Colombo Dockyard              Rs 287.50                     Rs 8.00            05/04/2010             2.5%

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

 LARGE VOLUMES TRADED FOR THE DAY

 CROSSINGS FOR THE DAY

 CLOSER LOOK

• Market is ready to take off sooner than later. If you analyse  the market behavior yesterday & today it was visible that all the Blue chip companies have buyers @ current market price levels.

•  Now the profit taking period by the retailers are over.However market was still marginally down, for the reason many brokering companies are engaged in debt clearing exercise for the financial year end 31/03/2010.  

• It was evident that country's premier Blue chip company John Keels Holdings leading the market during the last couple of days & there were several large crossings in this counter @ Rs 170.00.

• Bargain hunters were busy in collecting fundamentally sound shares @ lower levels today. 

• Colombo Land & Development company saw a significant price improvement today.The share was up by 7.14% with large volumes change hands.

 The market was down due to the following reasons 

• Investors sold their stakes / Part of their stakes in other companies in order to subscribe for the KHL right issue,which was an attractive offer for the investor community.

• Two IPO'S Raigam Wayamba Saltern & Vallible finance.Money being tied up in this three issues at the moment.

• Profit taking by the retail investors ahead of New year & Parliamentary Elections.

• Debt clearing operations by the brokering firms.

• This is a very good opportunity for the bargain hunters & to  the new investors to collect fundamentally sound future growth stocks. [See more for share details of [our stock picks].