Sri Lanka Stock Picks

Sri Lanka stock picks site has been developed to give first hand information with regard to share trading opportunities available for investors who do not like go through lengthy research reports, calculations,etc but to have a clear idea about stocks that have future up side potential.Our service is just not for day traders but for the investors who wish to see their money growing in the long run.Our main objective is to provide information relating to trading under one roof.

Friday, March 12, 2010

SRI LANKA - COLOMBO SHARES UP BY 0.33% NOW AT ALL TIME HIGH LEVEL

DAILY MARKET REVIEW

12/03/2010 - Colombo Shares up by 12.54 points to close at 3844.84 & the more liquid Milanka index was up by 4.74 points to close at 4432.80. All share price index is now at a record high in the history of Colombo Stock Exchange.

Turnover for the day was Rs 2.8 b.n.fueled by the sale of controlling stake in the Hotel services.The buyer was the hayleys group which bought a 51% stake.

There was a large foreign out flow reported today due the sale of the Hotel services. The foreign purchases were Rs 94 m.n. & foreign sales were Rs 1.6 b.n.

The market was supported by retail buying as well as institutional buying together with high net worth individuals, buying in to selected hotel & other Blue chip counters.Hotel sector will have a promising future ahead with the ever increasing tourists arrivals to the country.[see report NEW YORK TIMES]

There were 98 gainers as against 41 losing counters.

The highest gainers from the sectors were IT sector by 4.65% followed by Trading sector & Power & energy sector.

TOP FIVE GAINERS TODAY TOP FIVE LOSERS TODAY

LARGE VOLUMES TRADED TODAY

CROSSINGS FOR THE DAY

CLOSER LOOK

Hotel services deal was the talk of the town today.We mentioned a RUMOR with regard to a large trade of this company yesterday through Daily market review.

GREG share moved up today as well,& will go up in future as well.

EAST traded in large quantities.They sold 14.4 m.n. SERV shares today.

ACME moved up by Rs 1.00 to close at Rs 18.25 after a very long time. It is one of rare counters that has not move up since May 2009. There is a RUMOR of a rights issue of this company[see report] as well as KAPI.

Coco Both N & X class shares also moved up together with CFLB group of company shares.CFLB shares will have a very good future ahead.

LITE has announced a reduction in its share capital. [see report]. There will be a good time for this Share as well in future. LITE share also not move up in recent rallies.