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Monday, April 5, 2010

Sri Lanka - Colombo Share Market reports continuous growth


                 DAILY MARKET REVIEW


05/04/2010 - Colombo Stock Market was up by 0.94% today on back of retail buying interest in to Mid cap stocks, Plantations, Selected Hotel companies ,& Blue chip companies, ahead of New Year celebrations & Parliament Elections.

The benchmark ASI was up by 35.40 points to close at 3781.90 & the more liquid Milanka Price index was up by 20.25 points to close at 4348.95.
Turnover for the day was remaining low at Rs 681m.n. due to market liquidity short falls, where most of investor’s money being tied in Right issues & IPO s.
What was significant in today’s trading session is the Net foreign inflow of Rs 89.1m.n. worth of shares.
Plantation sector was leading the sectors with a growth of 5.09% on back of the share price improvement of all the plantation companies, followed by the Oil Palm sector due to price increase in Bukith Darah an Oil palm company.
The Construction & Engineering sector was leading the negative performances sector today, due to price decline in Colombo Dockyard & Company.
There were 101 positive gainers as against 25 negative performers.














 DIVIDEND ANNOUNCEMENTS
   
COMPANY
TRADING PRICE
DIVIDEND RATE (Rs )
  XD DATE
DIVIDEND   YIELD    %
EAST
    13.50
       1.00
   16/04/2010
        6.67





LWL
    75.50
       1.00
   15/04/2010
        1.19





LLUB
   173.25
       3.00
    15/04/2010
        2.00





AHPL
   134.50
       1.00
    09/04/2010
        0.67


 CLOSER LOOK
  • Today we saw renewed buying interest for shares of Plantation companies due to the prevailing high Natural Rubber prices fetched in the world market. Ever increasing crude oil price is one of the main reasons behind the price increase in Natural Rubber prices. High oil prices may lead to increase the Palm oil prices as well. 
  • Crude oil price has passed US$ 86 /Barrel in the world market.

  • We strongly believe that Rubber + Tea + Oil Palm plantation companies  will have a great future ahead.
  • Most of Blue Chip companies have attracted investor attention ahead of New year & Elections, where we believe that there will be a market boom in the latter part of the month of April & early part of May 2010.
  • Environmental Resources Investment company continued to attract investor interest today.
  • We anticipate that the Share prices of following companies may  increase short to medium term during next couple of weeks.
  1. John Keels Hotels.
  2. L.B. Finance

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