SRI LANKA - COLOMBO STOCK MARKET CONTINUES IT'S UPWARD MOMENTUM TODAY UP BY 0.97%

19/02/2010 - Colombo Stock Market continues it's upward trend today as well & Was up by 0.97% . ASI was up by 36.04 to close at 3768.81 & Milanka index was up by 83.80 points to close at 4343.04.

Turnover for the day was Rs 1.6 b.n..

Foreigners were net sellers today.Foreign purchases were at Rs 55 m.n. & foreign sales were at massive Rs 590 m.n. resulting a net outflow of Rs 535 m.n.

A large block of C.W.Mackie [29% stake] was purchased by a high net worth individual Dr.T. Senthilverl @ Rs 35/share. As a result of this trade share price of C.W.Mackie advanced by 20.90% to close at Rs 40.50.

There were 94 gainers as against 54 losers as at end of trading today.

    TOP FIVE GAINERS FOR THE DAY                              TOP FIVE LOSERS FOR THE DAY


      LARGE TRADES FOR TODAY

    CROSSINGS FOR THE DAY

Today's top gainers list were represented by two stocks previously mentioned by SRI LANKA STOCK PICKS through our Exclusive "CSE RUMOR" report.

• MASKELIYA PLANTATIONS
• KAPILA HEAVY

NOTE

• We expect the market to continue like this in coming weeks as well on back of beyond expected company results release by the listed companies.
• Further during February to June most of companies are declaring dividends for it's share holders.
• Today we saw over 2.0 m.n. shares of LITE changing hands. This is a positive signal for this share due to following reasons. [ * A capital reduction to be effected during the month of March 2010 in order to wipe off carry forward losses. * Share price has not moved up for the past 8 months. * New product range. * Opportunities available for company products from North & East areas. * NAV is around Rs 6.00 per share. * Present holding of shares will not get reduce due to capital reduction. * More clean balance sheet after  capital reduction. * Closing price today Rs 5.50.]