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.

Tuesday, April 6, 2010

Sri Lanka share market reported record high levels - up by 2.34% - Now at all time high

DAILY MARKET REVIEW

06/04/2010- Colombo Stock Exchange Sri Lanka Re - writes its history today by reporting its highest ever All Share Price index, Milanka Price index, & highest ever market capitalization today, passing its previous All time high level of ASI at 3845 points reported on 12/03/2010.

As we continuously reported through the daily market review report, Colombo Stock Exchange still has room for go up especially after the end of 30 year old civil war situation in the country. Today Colombo market was up mainly due to the positive earnings expectations for the first quarter 2010 & positive expectations of political stability in the country after the General elections.

ASI was up by significant points of 88.45 to close at 3870.35 by reporting high as 3,882.23 during mid day trading session. Milanka price index was up by 92.17 points to close at 4441.12.

However foreigners were net sellers in the market today by Rs 63 m.n. They purchased shares to the value of Rs 81 m.n. & sold shares worth of Rs 144 m.n.

Turnover for the day was Rs 1.2 b.n backed by retail buying interest.

Trading sector was the leading sector with a growth of 4.96%, followed by Banking & Finance sector as share prices of most of banking counters appreciated today. Services sector was the leading in the negative growth sectors & only other negative growth sector was the Stores & Suppliers sector.

There were 151 positive gainers as against 18 negative contributors.

MARKET POSITION TODAY

CROSSINGS FOR THE DAY

CLOSER LOOK

Banking sector counters saw massive price appreciations led by the Hatton National Bank & Commercial Bank.There are RUMORS that the Hatton National Bank has continuous buying from institutional buyers & Commercial Bank has plans go for buying in to another Bank.

Most of Blue chip companies have continues buying from the past few weeks. This was reported by us through our daily market review report well in advance.This is a very positive situation for the growth of the market in future.