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, April 30, 2010

Colombo Stock Exchange now at history best points level

DAILY MARKET REVIEW

29/04/2010 (S.L.S.Picks) – Sri Lanka stock Market continues its bull run for the second day on a shortened trading session today. Market declined due to profit taking on 27/04/2010 & 28/04/2010 was a holiday.

Investors picked Banking sector companies expecting improved performances for the Jan – March 2010 Quarter. Already Sampath Bank has announced exceptional results for the first quarter 2010 registering a growth of over 50% over last year results.

All share price index rose by 33.88 points to close at record high level of 4188.88 & more liquid Millanka index was up by 17.04 points to close at 4712.43.

Turnover for the day was healthy Rs 1.0b.n backed by retail investors.

Foreigners purchased shares to the tune of Rs 74m.n. & sold shares to the tune of Rs 152m.n. reflecting a net foreign out flow of Rs 78m.n. for the day.

The Oil Palm sector rose by 10.41% & was the leading sector today, due to price appreciation of Bukit Darah Company, followed by Footwear & Textile sector. The leading negative performing sector was the Construction & Engineering sector.

Shares of Raigam Wayamba Saltern Company commenced trading yesterday in Colombo Stock Exchange after its successful IPO. The company shares peaked Rs 5.25 & Closed at Rs 4.10 giving investors a return of 64% within a very short period.

There were 87 gainers as against 48 losers today.

ANNOUNCEMENTS

Good Hope PLC declared First & Final Dividend of Rs 12.00

Indo Malay PLC LC declared First & Final Dividend of Rs 9.50

Shalimar (Malay) PLC declared First & Final Dividend of Rs 10.00

Selinsing PLC declared First & Final Dividend of Rs 12.50

POSITIVE ECONOMIC OUT LOOK

Central Bank of Sri Lanka has forecast a 6.5 % economic growth for the country in year 2010.

Stable government to adopt consistent economic policies in the country.

Expected boom in the Tourism sector in future. Tourist arrivals to the country has increased after the end of 30 year old civil war & already recorded a 50.3% growth so far for the year 2010. ( JAN - MARCH).

The Economic growth in future is expected to be well supported by the development activities in the Construction & the Agricultural sectors as well.

Sri Lanka Share Market (Colombo Stock Exchange) ranked No 01 in Asia & second best in the world in 2009. We are the best performing stock exchange in Asia so far for year 2010.

Announcement of the holding an Indian film festival in Sri Lanka will boost the hotels sector.

Expected improved earnings by the listed companies in future.

CLOSER LOOK

Several large parcels of Janashakthi Insurance took place today @ Rs 14.00. This share will have a good future ahead & can expect short to medium term upward trend in this counter.

Massive price appreciation in Bukit Darah company was took in place today.This is the second consecutive day price appreciation for the Bukit Darah company. All other Oil Palm companies declared dividends yesterday & Investors expecting a mammoth dividend or some other positive News from the Bukit Darah company.

STOCKS TO WATCH