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| Sunday, 12 May 2002 |
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Business |  |
| News Business Features Editorial
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Stock Focus: From May 3 to 9 by Elton P. Ebert Increased demand for stocks with plenty of growth potential and strategic positioning by high network investors was seen at the bourse, resulting in a lift in the daily volume. The banking sector produced another winner in DFCC Bank, which peaked at Rs. 118, but closed at Rs. 117 on the 9th. This was the market response to increased earnings and the highest ever dividend of 50% first and final. Commercial Bank was at Rs. 155 at close. It's reported a moderate growth for the quarter ended March 31, 2002. In the ceramics sector, the emphasis shifted to Lanka Walltiles, which touched Rs. 22.25 on the 9th. Almost two million shares were traded during the period. Richard Pieris was the medium of strategic play while Asia Capital was also in the heavily traded bracket. JK Holdings had fair demand and closed at Rs. 59. Caltex formed a few followers and closed at Rs. 80. Ceylon Cold Stores amended its dividend 25%. It improved to Rs. 58 on 20,000 shares on the 9th. Activity in the hotel sector was limited as sellers ar few. In the US, the FOMC meeting on Tuesday left the interest rates unchanged. Meanwhile, the Middle East tension and oil prices will be a cause for worry. STOCKS IN DEMAND
1. Lanka Walltiles 2,048,200
2. Asia Capital 3,123,300
3. Richard Peiris 794,800
4. NDB 1,058,100
A summary of the more popular stocks
Company Period
May 3-9, PreviousApril
2002 transaction2002
end
Asia Capital 7.50-7.75 7.50 7.50
DFCC Bank 113.00-117.00 114.00 113.00
Nations Trust 14.00-13.75 14.00 14.25
Sampath Bank 60.00 60.00 60.00
The Finance 21.50-21.75 21.75 19.00
Asian Hotel 5.75-6.00 6.00 6.00
Hayleys 121.50-118.00 121.50 121.50
Royal Ceramics 20.00-19.25 19.25 18.50
PLANTATIONS
Maskeliya 26.00-26.50 26.00 26.00
Udapussellawa 7.75-8.25 7.75 8.50
May 2, 2000 May 9, 2002
All Share Index:616.06 616.16
Milanka Index: 1,025.24 1,025.62
Turnover last week: Rs. 273 million
Turnover this week: Rs. 426 million
Market capitalisation: Rs. 125 billion (Equities)
Market capitalisation: Rs. 8 billion (Debt)
Market price earnings ratio: 7.8
FOREIGN ACTIVITY
Purchases: Rs.15 million
Sales: Rs. 16 million
ANNOUNCEMENTS
DIVIDENDS
Peoples Merchant Bank: 4% final,
payable 5.7.2002.
Watawala Plantations: 5% 1st and final,
payable 5.6.2002.
DFCC Bank: 50% 1st and final, dates
to be notified.
Tea Smallholders: 15% final, dates to
be notified.
Ceylon Cold Stores: 25% final commended,
dates to be notified.
Maskeliya: 25% 1st and final,
dates to be notified.
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