Sri Lanka Stock Picks

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Friday, April 16, 2010

John Keels Hotels & Other hotel shares supported Colombo Stocks to moved up

DAILY MARKET REVIEW

16/04/2010 – Colombo Stock Market was up today as investors chased behind hotel sector companies on back of increased tourist arrivals to the country during the past 03 months period when compared with the same period in year 2009.

TOURIST ARRIVALS TO THE COUNTRY - JAN TO MARCH 2010

All Share Price index was up by 11.04 points to close at 3966.87 & more liquid Millanka Price index was down by marginal 2.74 points to close at 4517.74.

Turnover for the day was healthy Rs 1.1b.n. , supported by the buying interest in the John Keels Hotels, a unit of Blue Chip Company John Keels Holdings. Share price of John Keels Hotels traded in the range of Rs 18.75 & Rs 21.50 & closed the day at Rs 20.25 up by Rs 1.25.

Hotels & Travels sector was the leading sector with 2.18% increase, followed by the Plantations sector & Investment Trust sector was the worst performing sector for the day with a drop of 5.22%.

Foreigners purchased shares to the value of Rs 140m.n. & sold shares worth of Rs 291m.n.

There were 78 gainers as against 51 losers.

The Colombo Stock Market is still up 17.2 percent for this year, making it Asia's best-performing market
so far for this year.

MARKET SNAP SHOT

CROSSINGS FOR THE DAY

CLOSER LOOK

John Keels Hotels represented & was in the top slot in the most active trades & most active volumes counters yesterday & today.

Today we saw unusual volumes of Sigiriya Village Hotel traded in the range of Rs 48.00 & Rs 53.25. Further a crossing of 210,000 shares took place @ Rs 48.50. There are possibilities of shares of Sigiriya Village hotel to go up in the medium term.

As we predicted yesterday in our daily market review,shares of John Keels Hotels & C.W.Mackie moved up today.Both these shares have further room to go up in medium to long term.