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.

Tuesday, July 6, 2010

Commercial Bank shares traded in large quantities: Colombo stocks down

Market is not overheated for foreigners - Net foreign buying for the second consecutive day

Several large crossings in Commercial Bank, Janashakthi Insurance, Ceylon Hotels Corporation boosted the Turnover.

Merchant Bank & BOC bought 4.1% of Janashakthi Insurance

06/07/2010 (S.L.S.Picks) – Colombo Stock Market recorded further losses in both indices today due to continuous profit taking by the retail investors.

All share price index was down by 11.30 points to close at 4547.18 & more liquid Milanka price index was down by 10.25 points to close at 5130.03 points

However renewed buying interest continues in the Plantation sector Companies in today's trading session as well. We expect Plantation sector to perform well in the medium to long run due to the higher crude oil prices in the world market, Increased demand for Natural Rubber products from countries like China for Auto mobile industry, Improved Palm Oil prices in the world market, & Improved Tea prices in local auctions.

Turnover for the day was healthy Rs 2.1b.n

Foreign participation was at moderate levels. However foreigners were net buyers for the second consecutive day today by Rs 500m.n. Foreigners purchased Rs 621m.n. worth of shares & sold shares to the tune of Rs 121m.n.for the day.

Motors sector rose by 4.15% due to the share price increase in Lanka Ashok Company, followed by the Power & Energy sector. Foot Ware & Textiles sector was heading the negative performers list.

There were 65 positive contributors as against 84 negative contributors for the day.

ANNOUNCEMENTS

SIERRA CABLES PLC - Rs. 0.20 per share - First & Final Dividend

BLUE DIAMOND – Rights issue 1:1 @Rs 2.50 for Voting shares & Rs 1.50 for Non voting shares.

CLOSER LOOK

Sierra Cables - View report

Colombo Land & Development Company share has further potential to go up in the future. There were "Rumors" in the market that their lands were revalued & Net Assets Value per share has improved above Rs 30.00 levels.

Share price of Cargills(ceylon ) came down to Rs 124.00 levels yesterday & recovered today. The share peaked Rs 138.00 during mid trading session & closed at Rs 126.75.00 today up by Rs 2.75.We believe that this share has a huge upside potential purely on the basis of its future growth prospects.