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| Sunday, 17 February 2002 |
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Stock Focus: From February 8 to 14 by ELTON P. EBERT An extension of the winning sequence from last week was seen, with widespread gains promoting the All Share Index above the 580 level. Should it pass the 600 mark, a bout of profit taking is very likely. Favourable growth figures stimulated the market, prominent of which were DFCC Bank and National Development Bank (NDB), whose closing prices on the 14th were Rs. 109 and Rs. 65 respectively. Keen interest in Commercial Bank led the share upto Rs. 140 while Arpico Finance closed at Rs. 15. LB Finance was another mover. On the 12th, 177,800 shares were traded; Rs. 8 being the high point before closing lower. Tokyo Cement and Lanka Cement showed similar movements. Pelwatte Sugar, while fluctuating, was traded in massive quantities. Hayleys Exports was at Rs. 48, following the 20 per cent interim announcement. Light House Hotel was once again active; 100,000 shares were traded at Rs. 8.50 on the 14th. Royal Palms was at Rs. 10 while Hunas Falls was at Rs. 8.25. Emphasis on eco-tourism and other promotions should result in improved occupancy all round. Better than expected economic results in the US lifted the Dow Jones industrial average to 9,989 on Wednesday and the NASDAQ to 1,859. The Japanese Prime Minister's announcement of a loosening up of monetary policy also helped the Nikkei 225 Index to 10,081 on Thursday, which was a holiday for Hong Kong. Stocks in heavy demand 1. JK Holdings 247,600 2. Asian Hotels 422,900 3. NDB 316,200 4. Vanik 3,640,100 A summary of the more popular stocks Company Period February 8-14, Previous Jan. 2002 2002 Transaction End Asia Capital 7.25-7.50 7.00 7.25 DFCC Bank 103.75-109.00 103.00 99.00 HNB 42.00-42.25 42.00 43.00 Nations Trust 11.75-12.25 11.75 12.00 PMB 8.50-9.00 8.50 8.25 Grain Elevators 12.00-13.50 12.00 12.25 Nestle 53.00 52.50 52.00 Hayleys 109.00 104.00 106.00 Plantations Maskeliya 24.00-25.50 23.00 23.00 Talawakelle 17.00 17.00 15.00 Feb. 7, 2002 Feb. 14, 2002 All Share Index: 566.85 582.14 Milanka Index: 917.54 939.74 Turnover last week: Rs. 266 million Turnover this week: Rs. 208 million Market Capitalisation: Rs. 116 billion (Equities) Market Capitalisation: Rs. 8 billion (Debt) Market Price Savings Ratio: 7.3 Foreign Activity Purchases: Rs. 5 million Sales: Rs. 16 million Announcements Dividends Caltex: 11.5% 4th Interim, payable April 2 Hayleys Exports: 20% Interim Eagle Insurance: 60% 1st & Final, by issue of Debentures. |
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| Editorial | Security Produced by Lake House |
