STOCK FOCUS - 10th-14th March 2008
by Elton P. Ebert
An improved tone and increased foreign activity prevailed during the
week. The presence of institutions and High net worth individuals pushed
turnover to substantial levels.
Foreign favourite JK Holdings, SLT and Commercial Bank were
transacted in large blocks. However, the main draw was SLT which had an
immense improvement on a massive quantity of shares following the
Supreme Court’s ruling.
Over 12 million shares were traded on 12th and another 14 mln Shares
on the 14th. Lanka Cement and Parquet which were fancied last week
experienced further demand this week. Parquet was at surprising levels
on very high dealings.
Bogal Graphite was the new find this week; increased trading at
higher levels. Asian Cotton Mills came in for fresh demand. While fair
activity was witnessed in Cargills. Renuka Holdings commenced on a fiery
note but cooled off later.
HOTELS AND TRAVELS
Moderate demand prevailed for Galadari and Fortress Resorts.
PLANTATIONS
Watawala was on a slight decline while Hapugastenna was at Rs. 53 and
Maskeliya Rs. 25. Kegalle will be quoted XD from the 17th.
BANKS, FINANCE
AND INSURANCE
Over 4 mln Seylan Bank non voting shares were traded on Friday. An
element of acceleration was effected in LB Finance when over 600,000
shares were transacted.
Airline travelling is becoming expensive with airport charges on the
rise and oil which has hit the $ 110 mark.
WallStreet recovered from its dismal position on Wednesday when all
markets were depressed.
HEAVILY TRADED
JK Holdings - 1,861,900
SLT - 40,131,700
Parquet - 4,464,500
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A summary of the more popular stocks
Company Period
10th-14th Previous Feb. 2008
March 2008 Transaction End
Central Finance 190.00-191.00 190.00 186.00
LOLC 120.00-115.25 120.00 115.00
Nations Trust 29.25- 29.50 29.25 28.00
People’s Merchant 58.25- 60.00 59.00 56.00
Seylan Bank 32.00- 32.00 32.00 31.25
Ceylon Cold Stores 133.00-133.00 132.50 132.50
JK Holdings 120.50-121.00 120.25 119.50
Lanka Cement 15.25- 16.75 16.00 15.50
PLANTATIONS
Balangoda 36.00- 35.75 37.00 35.75
Udapussellawa 41.75- 40.00 42.75 40.00
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Mar. 7, 2008 Mar. 14, 2008
The All Share Price Index 2568.41 2569.94
Milanka Price Index 3217.79 3231.48
Turnover last week Rs. 1425 Million
Turnover this week Rs. 3369 Million
Market Capitalisation Rs. 833 Billion
Market Price Earnings Ratio 10.9
FOREIGN ACTIVITY
Purchases Rs.1094 Million Sales Rs. 1442 Million
ANNOUNCEMENTS
DIVIDENDS
Kegalle Rs. 3/- per share interim payable 31st March 2008.
DIMO Rs. 1/50 per share interim.
Colombo Invest Trust Re 1 per share 1st and final.
Colombo Fort Investment Re 1 per share 1st and final.
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