Sri Lanka Stock Picks

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Monday, June 14, 2010

Lanka Ceramics share price improved: Colombo Stock Market - Asia's Best Perfomer so far.

DAILY MARKET REVIEW

14/06/2010 (S.L.S.Picks) - Colombo Stock Exchange continues its bull run on a start of a fresh week today, backed by improved corporate earnings by the listed companies in Colombo Stock Exchange. The earnings by the listed companies during the first quarter 2010 alone has risen 190% so far, will definitely help to bring down the market valuations to below 15 levels. This is a clear indication of the future growth potential available to the investors from the Colombo Stock Exchange Sri Lanka.

Colombo Market was up by substantial 1.13% to record the history best index levels today backed by improved quarterly results published by listed companies for the 1st quarter 2010, & the continuous buying interest for the future growth stocks by the Retail investors, High net worth individuals, etc.

All Share Price index was up by 51.43 points to close at 4612.76 & Millanka Price index up by massive 74.92 points to close at 5257.08.

Investor interest was focused around trading shares as well as blue chip counters. The positive news released about the rating of John Keels Holdings, country’s premier blue chip company gave a confident about the company to the investors & it reflected from the company’s share price as well. It closed at Rs 204.00 up by Rs 3.75.

Foot ware & Textile sector was the highest gainer among all sectors today by registering a growth of 6.07% due to share price increase in Ceylon Leather Products Company, followed by the Construction & Engineering sector. Oil Palm sector was down by 1.44% was the leading negative growth sector.

Turnover reported for the day was Rs 1.7b.n

Foreign participation was at a low level. Foreigners purchased shares worth of Rs 145m.n & sold shares worth of Rs 146m.n reflecting a net foreign out flow marginal Rs 1.0m.n.

There were 112 gainers as against 58 losers for the day.

CLOSER LOOK

Today we witnessed investor interest towards Mid cap counters such as Lanka Ceramics, Kelani Cables, Acl Cables, Dipped Products etc.

Share price improvement in the country's largest diversified company John Keels Holdings always shows us the positive picture of the market.

Seylan Bank (X) counter traded in large quantities.It is consolidation at these price levels to have a strong foundation for the next phase of growth.

Richard Pieris company has represented in both large traders counter as well as large volumes traded counter. RICH has the potential of reaching Rs 100 levels in a period of short to medium term.

Hemas holdings continued to attracted investor interest. It is trading with a pending dividend of Rs 2.25 /share.

Lanka Ceramic show its share price appreciated by Rs 9.75 to close at Rs 90.75. We have continuously reported the growth potential of this share for a couple of weeks now through our Daily Market Review reports.

STOCKS TO WATCH