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, August 26, 2011

Bourse looks up

The Colombo share market picked up yesterday with both indices gaining on a turnover of Rs.1.62 billion, up from the previous day’s Rs.1.12 billion, with the All Share Price Index up 26.49 points (0.29%) while the Milanka was up 31.72 points (0.51%) with 92 gainers a short head behind 99 losers.

"There was a slight improvement in the market overall with both indices gaining," Prashan Fernando of Acuity Stockbrokers said. "The indices were higher earlier in the day and eased off at close of trading."

Retailers continued punting on stocks like Colombo Land, HVA, East West and Lanka Hospitals with the three former gaining while Lanka Hospitals was down Rs.2.70 at close.

Colombo Land which was on roll for the past several days was the day’s biggest business generator with 3 million shares done between Rs.62.20 and Rs.65.90 closing Rs.2.60 up at Rs.64.40 and contributing Rs.194.8 million to turnover.

HVA was up Rs.2.30 to Rs.38.50 on 3.7 million shares done between Rs.34.60 and Rs.39.10 while East West gained 40 cents to close at Rs.49.20 on nearly 1.9 million shares done between Rs.44.60 and Rs.49.20.

JKH hit a high of Rs.212.50 yesterday closing Rs.6 up at Rs.210.60 on 0.8 million shares traded on the floor between Rs.205 and Rs.212.50.

However there were crossings of 250,000 at Rs.203.50 early in the day and another of 104,900 at Rs.212 later.

Lanka Hospitals saw 1.4 million shares traded between Rs.61.20 and Rs.68 dipping Rs.2.70 to close at Rs.63.

Brokers said that speculative stocks were being driven up and it was hard to judge where the peak would be. Lanka Hospitals was one counter that moved up sharply and is now coming down, they said.

There was one crossing of 951,800 shares of Softlogic at Rs.23.

E.B. Creasy announced a dividend of Rs.6 per share for 2010/11 after approval at a Sept. 29 AGM. The share will trade XD from Sept. 30 with payment on Oct. 10. James Finlay announced a first interim dividend of Re.1 per share for 2010/11 XD from Sept. 5 and payment on Sept. 9.

source - www.dailymirror.lk