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Saturday, January 1, 2011

End of a boom year at Colombo Bourse

By J.A. Fernando in Colombo
Colombo, 01 Jaunary (Asiantribune.com):

Colombo Stock Market’s Retailers lifted the indices on Friday the December 31, to end a prosperous year for equity. Meanwhile Colombo Stock Market created history by posting an average daily turnover above Rs.2 Billion for the year 2010. ASPI and MPI recorded a double digit growth, gaining 96% and 83% respectively for the year.

The All Share Price Index (ASPI) closed at 6,635.87 points, rose 0.33% by 21.74 points and Milanka Price Index (MPI) climbed 0.15% by 10.78 points closing at 7,061.46 points. Turnover was at Rs.1.3 billion (down 37.39%) with a 48.02 million volume of shares changing hands (dipped 69%) whilst foreign purchases tumbled 48.38% to Rs.107.09 million and foreign sales came down 55.98% at Rs.122.96 million . Price to forward Earnings Ratio (PER) rose 0.4% to 25.2 times.

Beverage, Food & Tobacco and Manufacturing sectors were the highest contributors to the market turnover while both indices increased by 0.42% and 1.39% respectively. Distilleries (DIST) made the highest contribution to the market turnover while the share price was unchanged. The government of Sri Lanka has returned the Rs. 5,715,899,526 that was paid by DCSL PLC subsidiary Milford Holdings (Pvt) Ltd, to purchase 510,178,476 shares of Sri Lanka

Insurance Corporation Ltd. Bairaha Farms (BFL) also contributed to the market turnover while the share price increased by Rs.20.90 (6.89%) and closed at Rs.325.90. Ceylon Tobacco (CTC) announced an interim dividend of Rs.5.75 per share.

Globally, Asian stock markets were mixed in holiday thinned trade Friday, even as coal companies led Chinese stocks higher. U.S. stocks closed slightly lower yesterday despite an encouraging round of economic data as investors moved to lock in gains from a strong year that sent the market to two-year highs. Dow was up 0.14%.

Sri Lankan Secondary Debt market Treasury bond yields slightly decreased, while the market activity was low. Rupee appreciated slightly as the exchange rate was recorded at Rs.110.94 to Rs. 110.97 per US Dollar.

source - www.asiantribune.com