Colombo Stock Market Review - 24 July 2009

24th July 2009, News.lk

On Friday, the Colombo Stock Market remained positive with the market indices recording substantial gains and the turnover reaching over Rs.1 billion due to high foreign investor interest in selected blue chip shares. The All Share Price Index (ASPI) which tracks the movements of all stocks closed the day at 2,491.75 points, up by 11.19 points or 0.45% while the Milanka Price Index which tracks the most liquid stocks closed the day at 2,793.13 points, up by 29.71 points or 1.08%. The ASPI growth for the year to date stands at 65.78%.The turnover for the day was Rs.1,085.91 million compared with Rs.557.81 million recorded on the previous trading day.

Heavily traded stocks for the day, in terms of volume were Dialog Telekom, John Keells Holdings, Nations Trust Bank, Lanka Cement ,John Keells Hotels, Seylan Merchant Bank (Nov Voting), Piramal Glass Ceylon, Sierra Cables, Sampath Bank and National Development Bank.

The highest contributor to the market turnover was John Keells Holdings contributing Rs.478.15 million to the market turnover. The share gained Rs.4.25 or 3.15% to close the day at Rs.139.25, while trading at a high of Rs.141.00 and a low of Rs.135.00.

In the hotels sector, Hotel Developers which owns and operates the Hilton Hotel, gained the most with an increase of 4.04% to close the day at Rs.135.25 while Kandy Hotels was up by Rs.4.50 or 3.87% to close the day at Rs.120.75. Tangerine Beach Hotels closed flat at Rs.50.00. John Keells Hotels too closed flat at Rs.13.00.

Index heavyweight Sri Lanka Telecom was down by Rs.0.25 or 0.53% to close the day at Rs.47.00 while Dialog Telekom closed flat at Rs.5.25.