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.

Thursday, September 8, 2011

Mid day market marginally up on Wednesday

The Colombo bourse opened marginally up on Wednesday with both indices still in the green by mid day. The market is mainly retail driven with sustained interest on speculative stocks with some profit taking also seen, said brokers.

"We are seeing a temporary slowdown but the market is expected to pick up on retail activity," said Abhishek Kalupathirana at Lanka Securities.

Continued interest is seen on Browns Investments as the share recorded the highest volumes for the day so far. The share is up Rs 0.40 trading at Rs 5.90 by mid day.

Positive activity is also seen on PC House with the share appreciating Rs 0.30 reaching Rs 90.40 and generating volumes of 3 million shares on retail interest.

Colombo Dockyard is also gaining interest with the share trading at Rs 278.90, up 2.69 percent. Index heavy JKH share is up 1.39 percent at Rs 219.00.

Profit taking can be seen on HVA Foods share, down 2.4 percent trading at Rs 73.30 levels.

Four crossings were recorded by mid day. This included a crossing of 1.4 million shares of PABC at Rs 26.50 each and 274,000 shares of HVA Foods at Rs 74.00 a piece.

A further 800,000 shares of Tokyo Cement Non Voting changed hands at Rs 39.00 a share as did 422,100 shares in NDB at Rs 138.00 each.

The All Share Price Index is up 0.25 percent (17.45 points) at 6,973.66 while the Milanka Index which tracks the 25 most liquid shares gained 0.05 percent (3.26 points) at 6,296.34.

Turnover is at Rs 1.28 bn.

Highest contributor to turnover by mid day was Browns Investments with Rs 185.2 mn generated. HVA Foods pumped in Rs 124.7 mn while PABC contributed Rs 59.6 mn.

Browns Investments also tops volume with 30.9 million shares trading followed by Amana Takaful which saw 6.9 million shares move. Ceylon Tea Brokers shares were next in line with 6.1 million shares trading.

Among the top price gainers so far is Onally Holdings, up 14.98 percent, Rs 10.20 at Rs 78.30 while Radiant Gems is up 8.85 percent, Rs 7.30 at Rs 89.80. Singer Finance shares appreciated 8.40 percent, Rs 3.00 to Rs 38.70.

source - www.island.lk