07/04/2010 – Colombo Share Market continues its upward momentum today as well & reported its highest ever index levels surpassing the previous best All share price index & Milanka price index reported yesterday (06/04/2010).
All share price index was up 39.26 points to close at 3909.61& more liquid Milanka price index was up by 56.12 points to close at 4497.24 points. This was the first time that the All share index surpassed 3900 points level in the history.
More to add fuel to the growth of the Colombo Stock Market, foreigners reported net buyers at the end of today’s trading session. Foreigners purchased shares worth of Rs 512m.n. & sold shares worth of Rs 431m.n. which reflected Rs 81m.n. foreign inflow to the country.
Stores & Suppliers sector reported staggering 11.54% increase, followed by the Services sector. It sector tops the negative performance list today.
Turnover for the day was Rs 2.7b.n. This was well supported by the continuous buying interest from the Retail investors, High net worth individuals & institutional investors.
- Sunshine holding company which has diversified interest in the areas of Plantations (Watawala plantations) Health care sector ( Pharmaceuticals,Surgical & Medical Devices, Diagnostics and Nutraceuticals)Packaging Sector,Travel Sector,Power sector has performed very well after the recent share split of each issued ordinary share sub divided in to 10 ordinary shares. Soon after the sub division share price declined to low as Rs 32.50.Today it appreciated by Rs 10.50 to close at Rs 45.75. This share has strong upside potential in future on considering their diversified nature of the business interest & Watawala Plantations (One of Sri Lanka's best managed plantation companies) being a subsidiary company of Sunshine holding company.Before the sub division share price peaked to Rs 900 levels & had only 13,333,333 m.n. shares as at 31/12/09. The company reported a profit of Rs 433m.n profit for the nine months ended 31/12/2009 a growth of 121% YOY. A well respected banker & the Chairman of Hatton National Bank Mr. R..T.Wijethilake is the chairman of Sunshine holding company.
- Prices of most of Blue chip companies have appreciated today on back of strong buying interest ahead of General Elections & the New year.
- Shares of John Keels Hotels will have a strong demand in short to medium term as many investors who applied for additional shares of the company were allotted less than 0.1% of the requested quantity.
- We expect market to improve further as many investors are getting funds of the unallocated shares of John Keels Hotels these days.
- John Keels Holding company had several crossings @ Rs 190.00 levels,which is a very positive signal to the market. If John Keels Holding company has continuous buyers we can expect market to grow further upward direction.
- John Keels Hotels. Closing price - Rs 19.50[ 1 st reported price Rs 18.50]
- Sunshine Holdings.Closing price - Rs 45.75
- L.B.Finance. Closing price Rs 65.75 [1st reported price Rs 58.00 & Rs 62.00]
- Janashakthi Insurance. Closing price Rs 15.00 [1st reported price Rs 14.50]
- C.W.Mackie.Closing price Rs 39.50 [1 st reported price Rs 40.50 & Rs 38.75]