Sri Lanka Stock Picks

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Thursday, May 6, 2010

Nawaloka Hospital continues to trade in Large quantities. Indicies Flat @ Colombo Stock Exchange

DAILY MARKET REVIEW

06/05/2010 (S.L.S.Picks) – Sri Lanka stock Market was down marginally today due to profit taking by the retail Investors.

All share price index down by marginal 0.16 points to close at 4219.60 & more liquid Millanka index was down by 19.35 points to close at 4766.84

Turnover for the day was healthy Rs 2.9b.n backed by retail investors, High net worth individuals,& Institutional investors.

Foreigners purchased shares to the tune of Rs 87m.n. & sold shares to the tune of Rs 849m.n. reflecting a net foreign outflow of Rs 762m.n. for the day.

Information Technology sector rose by massive 30.36% & was the leading sector among all sectors today, due to price appreciation of E-Channeling shares, followed by Foot Ware & Textile sector. The leading negative performing sector was the Telecommunication sector.

There were 69 gainers as against 73 losers today.

ANNOUNCEMENTS

Asiri Surgical declared an interim dividend of 0.10cents /share

Asiri Hospitals declared an interim dividend of 0.10cents /share

DFCC Bank declared First & Final dividend of Rs 6.00/share

CLOSER LOOK

Large quantities of Nawaloka Hospital changed hands during today’s trading session as well. Investors are expecting the Hospital to report improved profits for the future quarter, after the sale of their stake in Galadari Hotel.

Several large crossings took place in John Keels Holdings.

Ceylon Leather Products has announced to the Colombo Stock Exchange that Environmental Resources Investment Company has purchased a stake in Ceylon Leather Products @ Rs 120.75 /share. With this purchase they hold nearly 71.29% stake in Ceylon Leather Products.

Seylan Bank has reported improved profits for the 1st quarter 2010. Both voting & Non Voting counters improved further high levels due to this factor today.

STOCKS TO WATCH