Friday, May 14, 2010

Singer Sri Lanka & Kelani Valley Plantations reports improved results : Colombo Stocks up

                     DAILY MARKET REVIEW

13/05/2010 (S.L.S.Picks) – Colombo Stock Market was up today due to the renewed buying interest on selected stocks & the improved quarterly reports published by the listed companies for the JAN – MARCH 2010 quarter (Three months).

 All Share Price index was up by 13.27 points to close at 4242.67 & the Millanka Price Index was up by substantial 32.09 points to close at 4774.26 points.

Turnover for the day was healthy Rs 1.1b.n. Well supported by the retail investors, High Net Worth individuals, & Institutional investors.

Foreign participation was at low levels. Foreigners remain as net sellers for the day by Rs 219m.n. Foreigners purchased Rs 169m.n. worth of shares & sold shares worth of Rs 388m.n.for the day.

Power & Energy sector rose by 7.30% due to share price increase in Indian Oil Company, followed by Services  sector. Investment Trust sector was the leading sector in the negative performers list.

There were 66 positive contributors as against 65 negative contributors for the day.

  • Singer Sri lanka & Kelani Valley Plantations reported substantial improvements to their 1Q profits 2010 by reporting 557% & 346% increase respectively to their bottom line YOY. Singer Sri Lanka is benefiting from the post war scenario in the country & Kelani Valley Plantations due to Global demand for Tea .
  • Renewed buying interest seen for the shares of the Indian Oil Company. This is one of few companies in the Colombo Stock Exchange that has not moved up for the last one year. During this period Colombo Stock Exchange  reports its highest ever levels in its history due to the end of 30 year old civil war in the country.
  • Richard Pieris & Company
  • Kelani Valley Plantations
  • Singer Sri Lanka
  • Indian Oil Company
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