During the week the All Share Price Index (ASPI) increased 246.34 points to close at a new all time high of 5880.49 points, while the Milanka Price Index (MPI) also increased by 169.70 points to a new high of 6066.81 points. The daily average turnover was SLRs.3bn compared to SLRs.2bn last week and the week ended with foreign buying amounting to SLRs.1.27bn whilst foreign selling was SLRs.1.61bn.
On Monday largest turnover was reported on Hayleys where 630,800 shares traded between SLRs.325.00 and 332.00. Central Finance closed up SLRs.58.30 (10%) at 642.10 with 164,000 shares traded between SLRs.580.10 and 642.10. Approximately 1mn shares of Eden Hotel traded between SLRs.61.00 66.80 being amongst the heavily traded top gainers for the day. Hotel Reefcomber (REEF) closed up 8.5% at SLRs.5.10 with more than 8.8mn shares traded during the day. Market closed on a negative note with ASPI and MPI losing 33.38 points and 35.24 points respectively.
On Tuesday the market surged with ASPI and MPI gaining 57.24 points and 27.29 points respectively, while total turnover amounted to SLRs.2.88bn. JKH which closed up at SLRs.265.30 with more than 2.3mn shares traded posted day’s single largest turnover of SLRs.612mn, followed by DFCC bank which posted SLRs.223mn with 685,100 shares traded. Day’s most heavily traded (65mn shares) SMB Leasing posted SLRs.175mn in turnover and closed down 10% at SLRs.2.70, while its nonvoting share also closed down 7.7% at SLRs.2.40 with 28.4mn shares traded. REEF continued to be amongst the most heavily traded top gainers with the share closing up 10% at SLRs.5.60 with 5mn shares traded.
ASPI and MPI increased 32.28 points and 20.16 points on Wednesday while total turnover amounted to SLRs.2.7bn. Largest contribution in terms of turnover was reported on JKH (SLRs.306mn) with more than 1.1mn shares traded. Lanka Walltile (LWL) which closed up SLRs.8.40 (9.3%) at 98.90 made a significant contribution to turnover with 2.4mn shares actively traded. REEF which announced a rights issue attached with warrants was amongst heavily traded (29.5mn shares) and the share closed up at SLRs.6.10. The Finance company, Vallibel Power, and LWL were the most actively traded amongst stocks that closed up more than 9%.
On Thursday the market surged with great vigour with ASPI increasing 94.88 points and MPI increasing by 52.20 points reaching a new high. Total turnover for the day amounted to SLRs.3.3bn to which the largest contribution of SLRs.380mn was made by JKH with 1.44mn shares traded. Asia Capital closed down 20 cents at SLRs.47.60 with 4.5mn shares traded, of which 1.5mn and 1.8mn shares crossed at SLRs.45.50 and 48.00. There was renewed interest on the banking sector shares of which Merchant Bank which closed up SLRs.3.60 (10%) at 40.30 was the most heavily traded. Richard Pieris closed up SLRs.11.90 at 131.70 being amongst the heavily traded top gainers.
Market surged with great vigour on Friday pushing up both ASPI and MPI by 95.32 points and 105.29 points respectively to new all time highs with the MPI passing the 6000 mark for the first time.
Total turnover for the day amounted to SLRs.4.1bn to which JKH, Brown & Co, and RICH made significant contributions, while RICH continued gain 10% for the second consecutive day to close at SLRs.144.80 with more than 1.46mn shares traded. Amongst heavily traded top gainers were, Ceylinco Seylan Development which closed up SLRs.1.70 (10%) at 18.70, followed by REEF which closed up 10% for the fourth consecutive day at SLRs.7.30.
The market gathered momentum during the current week and will continue to surge in the coming week with investors speculating on a possibility of price bands being removed by the regulators.
source - www.dailymirror.lk
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