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Wednesday, June 9, 2010

Seylan Bank saw investor interest : Colombo Stock Market down marginally

DAILY MARKET REVIEW

08/06/2010 (S.L.S.Picks) – Colombo Stock Market was down marginally today due to retail profit taking after recording history best index levels for All share price index & Millanka price index.

Millanka price index crossed all important 5000 barrier level yesterday for the first time in the history of Colombo Stock Exchange.

There were renewed buying interest on Insurance companies & the improved quarterly reports published by the most of listed companies for the JAN – MARCH 2010 quarter (03 months) were reflects above average results.

All share price index was down by 4.05 points to close at 4427.27 & the more liquid Millanka price index was down by 18.05 points to close at 5085.86 points.

Turnover for the day was healthy Rs 2.6b.n

Foreign participation was at moderate levels. Foreigners remain as net sellers for the day by Rs 288m.n Foreigners purchased Rs 164m.n. worth of shares & sold shares worth of Rs452m.n.for the day.

Power & Energy sector rose by 4.54% due to share price increase in Vallibal Power & Vidul Lanka, followed by Health Care sector. Oil Palm sector was heading the negative performers list.

There were 78 positive contributors as against 75 negative contributors for the day.

ANNOUNCEMENTS

Dividend Announcements

C OMPANY	TRADING PRICE	DIVIDEND RATE (Rs )	XD DATE	DIVIDEND YEILD %
HPWR	20.50	1.30	16/06/2010	6.3

LWL	86.75	1.00	16/06/2010	1.1

HHL	151.75	2.25	17/06/2010	1.4

HDFC	193.75	5.00	01/07/2010	2.5

CIT	87.50	1.20	15/07/2010	1.3

CFI	87.00	1.20	15/07/2010	1.3

HOPL	30.25	1.00	-	3.3

Capitalization of reserves

Amaya leisure Plc - o1 for 07

CLOSER LOOK

Today we saw renewed buying interest in the Insurance Companies, Hotel Sector Companies & Companies listed in the Land & Property Sector. Land & Property sector P.E is 7.9 as against Market P.E. of 21.8.

Investor interest was visible towards the Lanka Indian Oil Company as well. There were rumors in the market that the Government is looking forward to grant a tax reduction for the company.

All most all the other crossings took placed were for Blue chip companies listed in Colombo Stock Exchange.

Seylan Bank PLC traded in large quantities, the stock continuously get the attention of the investors for the past couple of months & heading towards record price levels.

STOCKS TO WATCH