newSRILANKA Team Markets 10 February 2010 99 views No Comment  Print This Post  Email This Post

The All Share Price Index dipped 4.1 points to close at 3,785.3 points (-0.1%), whilst the Milanka Price Index gained marginally by 2.7 points to close at 4,376.5 points (+0.0%). 

The total turnover was LKR2,237.0 mn (USD19,500 k) vs. 12-months average daily turnover of LKR764.2 mn (USD6,666 k) whilst the volume traded for the day was 56,253 k against the 12-months average daily volume of 24.810 k. 

Top traded counters were Environmental Resources LKR373.6 mn (USD3,257 k, +27.3%), Touchwood Investments LKR289.5 mn (USD2,523 k, +10.8%), Environmental Resources (Warrants 2010) LKR244.0 mn (USD2,127 k,+19.4%), Environmental Resources  (Warrants 2011) LKR231.6 mn (USD2,019 k, +20.9%) and John Keells Holdings LKR119.8 mn (USD1,044, -0.1%), 

The market witnessed a slight dip today after its impressive run in the past few weeks. The ordinary shares and the two warrants of Environmental Resources continued to dominate the market and collectively contributed to circa 38% of the day's turnover on the back of strong speculative high net worth and retail interest. Institutional interest was evident in Heavy weight John Keells Holdings with around 0.2mn shares changing hands whilst Touchwood Investments also traded heavily on the back of speculative retail interest and contributed a circa 13% of today's turnover with around 2.3mn shares having changed hands.

Buying interest was witnessed across the board with Distilleries and banking sector counters such as Seylan Bank (Non Voting), Commercial Bank, National Development Bank and Hatton National Bank attracting strong institutional and high net worth participation whilst Ceylon Leather Products, a subsidiary of Environmental Resources also attracted buying interest. 

Foreign purchases amounted to LKR170.9 mn (USD1,489k), whilst foreign sales amounted to LKR212.0 mn (USD1,848 k).     

Market capitalization is at LKR1,219.6 bn. YTD performance is 11.8%. 

Sri Lanka Equity Analytics

World Trade Centre

Colombo, Sri Lanka

Email: info@srilankaequity.com

Web: www.srilankaequity.com

Auto sourced from Daily Stock Market Review. Go to source

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