Thursday, April 1, 2010

Shares of Commercial Bank & Environmental Resources Investment sparks market activities - Colombo share market reported 0.59% growth

                                           DAILY MARKET REVIEW
01/04/2010 – Colombo Stocks recovered from the negative territory & reported gains on back of the retail buying interest. Upward moment of the market was fueled by the appreciation of share prices of both Commercial bank Voting & Nonvoting counters due to the announcement of the share spilt of its ordinary shares & the warrants & the share price of the Environmental Resources Investment Company.
ASI was up by 21.91 points to close at 3746.50 & the more liquid Milanka price index was up by 57.97 points to close at 4328.70.
Investment Trust sector was the leading sector in terms of growth for the day with 6.99% improvement purely as a result of the price appreciation of Environmental Resources Investments share, followed by the IT sector. The Power & Energy sector was down by 1.51% was the worst performing sector today.
There were 66 positive contributors as against 55 negative contributors.
Foreign activities were at very low levels. They purchased shares to the value of Rs 43 m.n. & sold shares to the value of Rs 117m.n. 
Turnover for the day was Rs 565 m.n.
Colombo Stock Exchange  is up 10.66 percent so far this year.Country’s premier Blue chip company John Keels Holdings reached a billion dollars [US$]In market capitalization today as per the LBO reported.

Movement of All share Price Index & Millanka Price Index for the week.

  TOP 10 GAINERS FOR THE DAY                                  TOP 10 LOSERS FOR THE DAY

LARGE VOLUMES TRADED                                               MOST ACTIVE TRADES


  • Commercial bank both Voting & Non voting counters appreciated today due to the announcement of the share split of its ordinary shares.
  • All most all the banking counters have buyers @ current market prices.
  • Crossings for the day dominated by banking counters. 
  • Environmental Resources Investment share together with its warrants reported significant price appreciations today after yesterday's poor show. This company will deliver above average returns to all the investors who invest in shares & warrants of this company at different price levels in future as in the past.
  • Net Assets Value of Namal Acuity Value Fund has grown to up to Rs 62.97 per unit.This company will offer a guaranteed long term return to the investors. A good investment opportunity to risk averse investors.
  • Most of Blue chip companies have buyers @ current market prices.This we believe is a very positive signal to the market.

No comments: