Sri Lanka Stock Picks

Sri Lanka stock picks site has been developed to give first hand information with regard to share trading opportunities available for investors who do not like go through lengthy research reports, calculations,etc but to have a clear idea about stocks that have future up side potential.Our service is just not for day traders but for the investors who wish to see their money growing in the long run.Our main objective is to provide information relating to trading under one roof.

Friday, June 18, 2010

Colombo Land & Development moved up: Colombo Stocks remained flat

DAILY MARKET REVIEW

17/06/2010 (S.L.S.Picks) – Colombo Stock Exchange closed for the week today, as tomorrow being declared a public & bank holiday to mark the 1st anniversary of the end of 30 year old civil war in our country.

Both indices of the Sri Lanka stock Market were moved opposite directions today.All share price index was up by 3.98 points to close at 4607.34 & more liquid Millanka index was down by marginal 0.76 points to close at 5271.47

Investors chased behind low valued stocks as well as speculative stocks such as Nawaloka Hospitals, Dankotuwa Porcelain, Colombo Land , Nation Lanka Finance formerly Ceylinco Securities & Financials Dialog Telecom etc.

High net worth individuals, Institutional investors & Foreigners were buying in to selected high value stocks & retail players were busy in picking low valued counters.

Turnover for the day was healthy Rs 2.3b.n

Foreign activities were in low levels in today’s trading session. They were net sellers for the day by Rs 297m.n. Foreigners purchased shares to the tune of Rs 143m.n & sold shares to the tune of Rs 440m.n.

IT sector index rose by 2.50% & was the leading sector among all other sectors, followed by Land & property sector. The leading negative performing sector was the Investment Trust sector.

There were 76 gainers as against 65 negative performing counters.

CLOSER LOOK

Colombo Land & Development Company shares & warrants were in the top 10 gainers list today. The company was in the top trades list for the day as well as large volumes traded list.This clearly shows us the demand available from the investors for this stock & expect CLND to perform well in the short to medium term.

Cargills (Ceylon) will perform well in the future. During last week Mr.V.R. Page one of directors at Cargills has purchased Cargills shares @ Rs 135.00 - 145.00 price levels.

There are "Rumors" in the market that the shares of Dankotuwa porcelain & Nation Lanka (CSF) will move further upward direction due to the expected cash inflow to Dankotuwa Porcelain by the new investor & Lanka Orix Leasing Company has plans to take over the business of Nation Lanka company respectively. We have not received any confirmed news up to the time of writing in this regard.

Housing Development & Finance Company (HDFC) moved up by substantial Rs 33.75 today to close at Rs 258.25. There were "Rumors" in the market that the company has a plan to go for a share split.

Dialog Telecom country's largest telecom operator headed the large volumes traded counter for the day. 21m.n shares changed hands in this counter today.

STOCKS TO WATCH