Colombo shares end lower on profit taking

Redbulls · 1 Colombo shares end lower on profit taking Tue Sep 11, 2012 7:04 pm

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Colombo shares closed marginally lower on Tuesday with investors cashing in on their gains during the past few days, analysts said.

The All Share Price Index closed ended at 5,590.90 points on a marginal drop of 0.02% (1.13 points), while the more liquid, Milanka Price Index was down by 0.55% (29.12 points) to end the day at 5,219.72 points. The S&P SL 20 Index rose by 0.49% (14.73 points) to end at 3,041.23 points.

Market turnover was at Rs 1.9 billion over a volume of 140.15 million shares. The top turnover generators for the day were HVA Foods PLC, Serendib Hotels PLC, Citrus Leisure PLC, Commercial Bank non voting , and Pan Asia Bank. These counters accounted for 32% of the total market turnover. Foreign participation of total market turnover was 10.57% and net foreign buying was Rs. 247.7 million.

http://sundaytimes.lk/index.php?option=com_content&view=article&id=24098:colombo-shares-closed-marginally-lower-on-tuesday-with-investors-cashing-in-on-their-gains-during-the-past-few-days-analysts-said&catid=77:news&Itemid=563

Slstock · 2 Re: Colombo shares end lower on profit taking Tue Sep 11, 2012 7:19 pm

Slstock

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Second news article saying today was profit taking. other is lbt.lk

Turnover also keeps going up every day lately. One time we were worried about volume and no share appreciations. Now voume is there . Appreciation in values were seen and now we worry about selling or falling market.

Isn't life a ball? The wonder full market cycles to reap benefit at the right times.

sriranga · 3 Sri Lanka stock rally takes pause Tue Sep 11, 2012 7:27 pm

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Sept 11, 2012 (LBO) - Sri Lanka's stocks closed marginally lower Tuesday ending a 10 straight days of gains that followed the replacement of a regulator who was tough on securities fraud, brokers said.

The Colombo All Shared Index closed at 5,590.90 down just 1.13 points lower (0.02 percent) and the S & P SL 20 index closed at 3,034.00 up 7.50 points (0.25 percent).

Turnover was 1.9 billion rupees with a large stake in Serendib Hotels, boosting volumes.

The top contributor to the index was Selinsing an illiquid palm oil stock that rose 500 rupees to 1,599 with only a single share being traded, according to stock exchange data.

Sri Lanka Telecom, another illiquid stock large cap stock closed up 1.20 at 44.70 rupees, becoming the second largest contributor to the days index gain.

Some of the finance companies which had shot up in recent days lost ground Tuesday. Finance companies have been rising despite new car registrations plunging, interest rates rising and prospects of higher bad loans looming, analysts said.

Sri Lanka's stocks which weakened as interest rates rose ending a credit driven rally started to go up after the stock market regulator was replaced for the second time.

Politically connected investors and brokers blamed SEC rules and investigations of micro cap fraud including pump and dump scams for the falling market.

Abans Finance fell 1.70 rupees to close at 42.10 rupees, Arpico Finance fell 5.70 to close at 89.50, Asia Asset Finance fell 20 cents to close at 3.10, Associated Motor Finance fell 23.10 rupees to close at 391.90 rupees, Capital Alliance Finance fell 1.00 rupee to closed at 29.00.

Central Finance fell 3.30 to close at 162.50 and Commercial Credit and Finance fell 20 cents to close at 17.40 rupees but Alliance Finance rose 20.50 to close at 721.80.

Dankotuwa Porcelain closed up 6.10 rupees at 24.10, Citrus Leisure closed up 2.60 at 34.00 rupees and HVA Food closed up 1.30 at 19.00 rupee being among the top contributors by volume.
http://lbo.lk/fullstory.php?nid=273032076