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.

Monday, March 28, 2011

CSE up 9.11%, foreign outflow tops Rs. 6.5bn * Stock exchange performance

The Colombo Stock Exchange gained 0.77 percent last week with the All Share Price Index (ASPI) gaining 55.3 points to close the week at 7,240.27 points. The Milanka Price Index (MPI) of more liquid stocks grew at a sharper rate, gaining 146.4 points to close the week at 6,838.02 points, up 2.19 percent from a week earlier, brokers said.

Year-to-date, the Colombo Stock Exchange grew 9.11 percent as at the week ending March 25, 2011 while the MPI declined 3.16 percent.

Average daily turnover last week amounted to Rs. 2,871.2 million. There was a net outflow of foreign investments totaling Rs. 2,019.67 million. So far this year, net foreign outflow amounted to Rs. 6,549.81 million as at March 25.

The top five gainers last week (March 21 to 25) where Ceylon Cold Stores up 33.18 percent to close at Rs. 799.10, Tea Smallholder Factories up 32.06 percent to Rs. 224.5, LB Finance up 31.23 percent to Rs. 178.6, Central Finance up 30.61 percent to Rs. 1,050 and Sierra Cables up 28.26 percent to close at Rs. 5.9.

The five biggest losers were Guardian Capital Partners down 76.46 percent to close at Rs. 294.2, Amana Takaful, down 30.30 percent to close at Rs. 2.3, SMP Leasing down 16.67 percent to 50 cents, Industrial Asphalt down 13.16 percent to Rs. 425.5 and Convenience Foods Lanka down 12.91 percent to close the week at Rs. 400.6.

"The indices saw positive growth during the week with MPI growing faster than the ASPI on renewed buying interest. The week saw heavy institutional and high net-worth individual participation with large trades on CFIN and CINS while DIST gained majority control of SUGA. Foreign participation accounted for a net outflow during the week primarily due to selling of stake on CINS," John Keells Stockbrokers said.

"The week started off on dull sentiments and volatility was felt across the bourse during the trading week. However renewed interest on selective stocks namely, LFIN, CFIN, SUGA kept the market alive, in our view. The week saw a total of 323.9 n shares changing hands," Bartleet Mallaroy Stockbrokers said.

"Institutional and high net-worth presence was seen more prominently during the week with keen interest towards Finance stocks, in our view. Recovery of global rubber prices drew interest towards rubber plantation stocks, towards the end of the week, in our view," it said.

source - www.island.lk