Colombo Share Market was down by 0.07% due to holiday mood.

                                   DAILY MARKET REVIEW

 15/04/2010 – Colombo Stock Exchange commenced its operations today after the Sinhala & Tamil New Year holidays. However market was in a holiday mood today as most of investors & Brokers were stayed away from the market due the New Year celebrations.

All Share Price index was down by 2.95 points to close at 3955.83 & the more liquid Millanka index was down by 22.08 points to close at 4520.48.

Turnover for the day was 650m.n. led by the retail investors.

Stores & Supplies sector reported 2.63% improvement due to the share price increase in E.B.Creasy & company, & followed by Plantations sector. Construction & Engineering sector was the worst performing sector by reporting 1.31% decline over the previous day’s position.

There were 65 gainers as against 55 losers.  

 

MARKET SNAP SHOT

 CROSSINGS FOR THE DAY

 CLOSER LOOK

•  Shares of John Keels Hotels commenced trading today after the recently announced rights issue. It gave a return of 90% to the investors who invest Keels rights @ Rs 10.00 ,26.67% & 18.75% return for the investors who purchased rights around Rs 5.00 & Rs 6.00 respectively from the market.

• We strongly believe that the investors have a very rare opportunity of purchasing the John Keels Hotels shares @ current market price levels (Rs 18.75 – Rs 19.00) which have one of best managed hotel chains in our country & abroad. (Maldives)Investors who invest in the shares @ current price levels will be in a position to get a minimum of 50% return in short to medium term period.

• Today we saw price appreciations in shares of CFLB group of companies such as Colombo Fortland & Building, Ceylon Investment Trust, Lankem Ceylon, Laxapana,Lankem Development,Sigiriya Village hotels etc. 

• However we believe that the C.W.Mackie has further room to go up in medium to long term.It closed @ Rs 41.75 today.

• Several shares such as L.B.Finance, C.W.Mackie, Colombo Fortland & Building which were in today's top gainers list were mentioned by us well in advance.

• We believe that the Market will bounced back from next Monday onwards (19/04/2010)