Market Searching for Direction...10th March 2011

The All Share Price Index gained 40.5 points to close at 7,383.9 points (+0.6%), whilst the Milanka Price Index also gained 31.9 points to close at 6,879.24 points (+0.5%).
 

The total turnover was LKR1,723.5 mn (USD15,646.8 k) vs.12-month average daily turnover of LKR2,774.5 mn (USD25,188.4 k) whilst the volume traded for the day was 49,339.7 k against the 12-month average daily volume of 93,195.0 k.

Top traded counters were Lankem Developments LKR217.0 mn (USD1,970.0 k, +34.8%), PC House LKR134.5 mn (USD1,221.1 k, +4.5%), Colombo Fort Land and Building LKR126.3 mn (USD1,146.6 k, -1.6%), John Keells Holdings LKR86.1 mn (USD781.7 k, +0.8%) and Royal Ceramics Lanka LKR79.3 mn (USD719.9 k, +2.2%).

Colombo bourse made a slight recovery after three days of continuous erosion. Lankem Developments emerged as the top trader for the day on the back of strong investor interest and contributed for circa 13% of day’s turnover. PC House witnessed renewed buying interest backed by all round investor interest whilst Colombo Fort Land and Building shed some ground following the announcement of 1 for 5 subdivision of shares. Heavy weight John Keells Holdings continued to gather momentum with Institutional interest. Further strong institutional participation was seen in Royal Ceramics Lanka during the day.

Net outflow of foreign funds was seen during the day, where foreign purchases amounted to LKR101.6 mn (USD922.4 k), whilst foreign sales amounted to LKR213.1 mn (USD1,934.6 k).



TKS Securities (Pvt) Ltd