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The Colombo stock market ended lower for the second consecutive day for the week due to rising uncertainties .

ASI dipped by 39.22 points (-0.65%) to end at 6,035.65 and sensitive MPI decreased by 65.64 points (-1.25%) to close at 5,174.28. Market turnover was registered at Rs.380.1mn.

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Colombo stocks ended in red zone today with notable losses in both benchmark indices. ASI dropped by 62.90 points (-1.04%) to close at 5,972.75 while sensitive MPI dropped by 53.99 points (-1.03%) to close at 5,120.89.

 Daily market turnover was Rs.460mn. John Keells Holdings (Rs.144.6mn) was the top contributor to the market turnover followed by Environmental Resources Plc (Rs.68.5mn) and Environmental Resources warrant 2012 (Rs.16.2mn) Environmental Resources voting share and warrants were traded heavily during the day and ended with negative returns. Apart from ERI, counters such as HVA Foods, Citrus Waskaduwa and John Keells Holdings were among the mostly traded stocks. Foreign participation accounted for 27% of the total market activity. At the end of the day foreign investors were net sellers with a net foreign outflow of Rs.10mnTweet

Although Colombo bourse continued to be weighted down by notable selling pressure during the trading today, foreigners emerged as net buyers for the first time in the New Year.

 Foreign participation stood at 25.7% of the total market activity and at the end of the day foreign investors were the net buyers with a net foreign inflow of Rs.21.8 million, stock market data showed. ASI decreased by 33.00 points (-0.55%) to close at 5,939.75 where as sensitive MPI dipped by 27.43 points (-0.54%) to end at 5,093.46. Market turnover was registered at Rs.341.6mn. Premier Blue Chip John Keells Holdings Plc (Rs.76.5mn) made the strongest contribution to the daily turnover followed by Environmental resources Plc (Rs.62.8mn) and Commercial Bank Plc (Rs.45.5mn). In the meantime Touchwood Investments Plc, Commercial Bank Plc and Nation Lanka finance Plc made active contributions to the daily turnover.Tweet

Nestlé Sri Lanka, the local subsidiary of the world’s leading nutrition, health and wellness company, opened its new noodle plant at its state-of-the-art manufacturing facility in Kurunegala a while ago, marking the second phase of its investment commitment of Rs.10 billion in Sri Lanka.

 The company’s latest investment, amounting to Rs.1.1 billion, sees the completion of a new noodle manufacturing plant that will increase and upgrade output for Nestlé’s popular MAGGI noodles range.  The MAGGI noodle manufacturing plant was inaugurated by Maithripala Sirisena, Minister of Health, who presided at the event as Chief Guest; in the presence of Anura. P. Yapa, Minister of Environment; Johnston Fernando, Minister of Co-op & Internal Trade, Jagath Pushpakumara, Minster of Coconut & Janatha Estate Development; and Athula Wijesinghe, Chief Minister – NWP.  Tweet

The Colombo Stock Exchange started the new week on negative dynamics where benchmark indices fell sharply throughout the day. Furthermore all the sectors except for oil palm sector depicted considerable losses.

ASI dipped by 118.04 points (-2.04%) and ended at 5,663.09 while sensitive MPI declined by 105.18 points (-2.14%) to settle at 4,811.71.Market turnover stood at Rs.827.3mn. Swarnamahal Financial Plc (Rs.82.1mn) made the strongest contribution to the daily turnover along with Waskaduwa Beach resort Plc (Rs.56.2mn) and John Keells Holdings Plc (Rs.46.8mn). Asia Asset Finance Plc, Environmental resources Plc and HVA foods Plc recorded heavy trading during the day. Foreign participation stood at 3.8% of the total market activity and at the end of the day foreign investors were the net sellers with a net foreign out flow of Rs.41.9mn.Tweet

Mr. S. Thumilan

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The Colombo equity market rebounded today to the positive territory however on a lackluster note. ASI closed at 5,556.29, up 20.2 points (+0.36%) while sensitive MPI settled at 4,736.93, up 26.03 (+0.55%). Market turnover stood at Rs.628.8mn. John Keells Holdings Plc (Rs.70.7mn) emerged as the top contributor to the turnover followed Asia Assets Finance Plc (Rs.55.60mn) and Swarnamahal Financial Plc (Rs.49.5mn). Heavily traded were the counters such as Environmental Resources Plc, Fortress Resources Plc and Nation Lanka Finance rights. Furthermore Blue Diamonds Jewelery Plc has resolved to effect reduction of stated capital to recoup the accumulated losses and there will also be a subdivision of shares (1 to 14) Foreign participation stood at 9.7% of the total market activity and at the end of the day foreign investors were the net buyers with a net foreign inflow of Rs.65.9mn.Tweet

Aitken Spence PLC informed the Colombo Stock Exchange today the firm would realise a capital gain of approximately Rs.630 million on the sale of its shareholding in Colombo International Container Terminal (CICT) to China Merchant (International) Company Limited (CMHI).

 "The sale was on normal commercial terms which have been determined through arms length negotiations between the parties. The directors consider the sale is in the best interest of the company and our shareholders" the filing said. Aitken Spence partnered with CMHI and Sri Lanka Ports Authority (SLPA) in building the Colombo Port’s South Container Terminal by setting up CICT, but recently said that the company wanted to pull out from the consortium due to cost escalations pertaining to the project. The ownership composition of CICT was; 55 percent by CMHI, 30 percent by Aitken Spence and 15 percent by SLPA.Tweet

Sri Lanka’s January inflation slowed to 3.8 percent from a year and from 4.9 percent recorded in December 2011, the data released by the Census and Statistics Department said.

 “This is the lowest inflation rate recorded after twenty-five months from December 2009. As against the higher base prevalence in January 2011, the YoY inflation in January 2012 shows a significant decrease to 3.8 percent,” Statistics Department said. The prices of all items of food and non food groups measured by the Colombo Consumer Price Index (CCPI) increased 0.3 percent in January 2012, after rising 1.2 percent during December 2011. The12 month moving average inflation as measured by the CCPI in the month of January stood at 6.5 percent, representing a negative trendTweet

The Monetary Board of Sri Lanka has finally decided to increase the policy rates by 50 basis points owing to increased private sector credit growth that is resulting in a widening trade deficit.

Accordingly the Central Bank of Sri Lanka (CBSL) in a statement said the its new Repurchase rate and the Reverse Repurchase rate will be 7.50 and 9 percent, respectively.

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