19/04/2010 ( S.L.S.Picks) - Colombo Stock Market recorded another milestone today by reporting All Share Price Index at its history best levels & passing all important 4000 mark for the first time in the history of Colombo Stock Exchange. Investors were chased behind the hotel stocks anticipating favorable company earnings in future quarters on back of increased tourists’ arrivals to the nation after the end of 30 year old civil war in the country in may 2009.
Political stability created after the recently concluded General Elections in the country is one of another reason for the improved performance of the Colombo Stock Exchange.
All Share Price Index was up by 48.49% points to close at 4015.36 & the more liquid Millanka Price Index was up by 58.36% to close at 4576.10.
Turnover for the day was Rs 1.7b.n. Supported by retail investors, high net worth investors & institutional investors.
The Hotels & Travels sector was the leading sector with a growth of 3.98% due to the price appreciation of all most all the hotel company shares, followed by the Motors sector. Plantation sector was the leading in the negative performer’s sector list with a marginal drop of 0.71%.
John Keels Hotels (unit of John Keels Holdings, country’s premier blue chip company) was the most attracted share in today’s trading session.
Foreigners were net sellers today by Rs 164m.n. They purchased shares to the value of Rs 113m.n. & sold Rs 277m.n. worth of shares.
The Colombo Stock Exchange is up 18.6 percent so far this year, making it Asia's best performing market.
MARKET SNAP SHOT
CROSSINGS FOR THE DAY
- Market crossed the all important ASI 4000 mark today, on back expectations of improved corporate earnings for the forth coming 2010 March quarter.
- Companies in the hotels sector represented heavily in today's crossings list. Other companies in today's crossings list comprises of most valued shares in Colombo Stock Exchange.
- Seylan Bank (X)
- Sigiriya Village
- Richard Pieris
- John keels Hotels