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.

Thursday, June 10, 2010

Sigiriya Village leads the way: Colombo Stock Market Now at History Best position

DAILY MARKET REVIEW

10/06/2010 (S.L.S.Picks) – The both indices of the Sri Lanka stock Market were up for the second consecutive day today & now at its history best levels. Investors chased behind banking stocks, other future growth stocks such as Cargills, Hemas Holdings, Lankem Ceylon, Colombo Fortland & Building, John Keels Holdings 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.

All share price index was up by 31.83 points to close at record 4496.24 & more liquid Millanka index was up by 24.64 points to close at 5137.37

Turnover for the day was healthy Rs 2.8b.n

Foreigners were active in today’s trading session. However they were net sellers for the day by Rs 428m.n. Foreigners purchased shares to the tune of Rs 1.0b.n & sold shares to the tune of Rs 1.5b.n.

Diversified sector index rose by 1.87% & was the leading sector among all sectors due to the share price appreciation of Hemas Holdings, followed by Beverage Food & Tobacco sector. The leading negative performing sector was the Trading sector.

There were 77 gainers as against 68 negative performing counters.

ANNOUCEMENTS

Rights Issue

ACME PRINTING & PACKAGING PLC - Ten (10) new ordinary shares for every eleven (11) existing ordinary shares held

Sub Division of Shares

VIDUL LANKA PLC - One (01) share divided into ten (10) shares

Dividends

C.W.MACKIE PLC First & Final dividend of Rs 1.00 / share

MALWATTE VALLEY PLANTATIONS Final dividend of Rs 1.00 / share

UNITED MOTORS LANKA PLC First & Final dividend of Rs 1.80 /share

CLOSER LOOK

As we commented share price of Hemas Holdings appreciated by Rs 7.00 to close at Rs 160.50. It peaked Rs 164.00 during mid trading session today. The Diversified Company has a strong upside potential medium to long term.

Large volumes of SEMB, JINS, and CFVF etc changed hands today.

Shares of Ceylon Theaters group of companies such as Cargills, Lanka Tiles, Ceylon Theaters, Lanka Ceramic, Lanka Walltile Traded in large quantities.