Monday, May 3, 2010

Janashakthi Insurance & Commercial Bank trades boost the Turnover - Colombo stocks at a new high

                            DAILY MARKET REVIEW

26/04/2010 (S.L.S.Picks) - Sri Lanka’s only stock exchange – Colombo Stock Exchange continues its upward momentum on a start of a fresh day of trading here in Sri Lanka.

All Share Price index was up by 30.34 points to close at 4219.22 & Millanka Price index was up by 39.80 to close at 4752.23. This is the first time in the history of Colombo Stock Exchange that the All Share Price index has passed the 4200 barrier level.

Today we saw that the investor interest was once again focused to Blue chip companies such as John Keels Holdings, Commercial Bank, Hatton National Bank, Carson group of companies to name Carsons, Ceylon Investment, Bukit Darah, & Ceylon Guardian etc.

Oil Palm sector was the highest gainer among the sectors today by registering a growth of 8.10%, followed by the Diversified sector. IT sector was the highest negative gainers sector for the day.

Turnover reported for the day was a massive Rs 3.2b.n

Today we witnessed improved foreign participation in the market. Foreign purchases were Rs 1.6b.n & foreign sales were at Rs 1.4b.n. Net foreign Inflow for the day was very encouraging Rs 286m.n.

  • Massive crossings of Janashakthi Insurance took place today. This is a good signal to the market that the share price of this company may improve in the near future. Janashakthi Insurance Company has been identified as one of future growth stocks in Colombo Stock Exchange.
  • Share price of John Keels Holdings improved by Rs 5.75 to close at Rs 191.00. If you get buyers for John Keels Holdings at improved prices, it is always a very positive signal about the overall market situation.
  • Today we saw renewed buying interest for most of Blue chip companies in the market. Another positive signal.
  • Foreign participation in today’s market activities was encouraging & there was a net foreign inflow of Rs 286m.n.

  • Janashakthi Insurance Company
  • Haycarb
  • L.B.Finance

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