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, July 2, 2010

Dipped Products Traded in large quantities: Colombo Stocks down for the third day

DAILY MARKET REVIEW

02/07/2010 (S.L.S.Picks) – Colombo Stock Market closed for the week today by registering losses in both indices for the third consecutive day.
All Share Price index was down by 17.06 points to close at 4593.65 & the Millanka Price Index was down by 38.40 points to close at 5210.81 points.

Turnover for the day was healthy Rs 3.4b.n. Well supported by the buying interest from Retail investors, High Net Worth individuals, & Institutional investors. Retail investors continued to chased low valued stocks in the market today as well & the interest was towards at shares such as Seylan Merchant Bank both Voting & Non Voting shares, Sierra Cables, Blue Diamond Both Voting & Non Voting shares, Reef comber, Ceylon Glass etc. Out of the low valued stocks which are trading below Rs 10.00 levels Sierra Cables still offers the best value for the investment.

Foreign participation was at moderate levels. Foreigners were net sellers for the day by Rs 365.00m.n. Foreigners purchased Rs 408m.n. worth of shares & sold shares worth of Rs 773m.n.for the day.

Motors sector recorded 1.40% was the leading sector today due to the share price appreciation in Dimo Company, followed by Plantation sector. Oil Palm sector was leading in the negative performing sector’s list.

There were 64 positive contributors as against 86 negative contributors for the day.

CLOSER LOOK

The Kandy Hotels company owners of Hotel Suisse & Queens hotel Kandy shares traded in unusual quantities today. There were 1,602,100 shares of KHC traded @ Rs 200.00 as two crossings in the market. The share closed at Rs 180.00 up by Rs 5.00.

There were several crossings in the Dipped Products company shares as @ Rs 125.00 /share. & Distilleries Company shares as well @ Rs 130.00 / share.There were several crossings took place in these two counters in yesterday's trading session as well. We expect these two counters to perform well in the medium to long term. The DMH capital which owns 10% DIPD sold 6.05% of its stake in the Company as per CSE data.

A single crossing of 125,000 shares of Cargills (Ceylon) took place @ Rs 125.00 / share. This share has a strong upside potential in medium to long term.

Shares of Sierra Cables traded in large quantities today.It was in the Top 10 Gainers list, Top Volumes traded list & Top trades list as well. We believe that Sierra Cables has a strong upside potential in the future as the Company is representing one of growth sectors in post war Sri Lanka. Directors of the Company are purchasing the Cargills shares from the market since couple of weeks back. On 17/06/2010 Mr. V.R. Page one of Directors at Cargills purchased 5000 shares @ Rs 130.00 /share as per the CSE data.

Plantation sector Companies received the investor attention for the last couple of days. Kalani Vally Plantation touched Rs 100.00 mark level today. It closed at Rs 100.00 up by Rs 11.75 for the day.

STOCKS TO WATCH