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Wednesday, May 19, 2010

Janashakthi Insurance traded in large quantities: Colombo Stocks down

DAILY MARKET REVIEW

19/05/2010 (S.L.S.Picks) – Sri Lanka stock Market was down due to continuous selling pressure by the retail investors.

All share price index was down by 14.13 points to close at 4243.54 & more liquid Millanka index was down by 29.94 points to close at 4792.71

Turnover for the day was healthy Rs 1.3b.n backed by Retail investors, High net worth individuals, & Institutional investors.

Foreigners were net buyers for the day today where they purchased shares to the tune of Rs 349m.n. & sold shares to the tune of Rs 270m.n. reflecting a net foreign in flow of Rs 97m.n.

Footwear & Textile sector rose by 2.23% & was the leading sector among all sectors for the second consecutive day today, due to price appreciation of Ceylon Leather Products shares, followed by Beverage food & Tobacco sector. The leading negative performing sector was the Tile sector.

There were 40 gainers as against 96 negative performing counters.

ANNOUNCEMENTS

Diesel & Motor Engineering PLC declared Final dividend of Rs 4.00 /share

CLOSER LOOK

Large quantities of Janashakthi Insurance changed hands during today’s trading session as crossings.

Several large crossings took place in Distilleries Company @ Rs 126.00 /share

Shares of Ceylon Leather Products which 71.29% owned by Environmental Resources Investment Company after the recent purchase of its shares @ Rs 120.75 have appreciated continuously during the recent past & closed at Rs 168.25 up by Rs 8.50 for the day. The first stake of Ceylon Leather Products was purchased @ Rs 55.00 /share by the Environmental Resource Investment Company. This gives a substantial book profit for the ERI Company.