Wednesday Oct 21, 2009
The indices at the Colombo Stock Exchange rebounded strongly with the ASPI closing up 35 points (+1.2 percent) to close at 3,019. The key broader index of all shares was down close to 122 points in early morning trade but bounced back as buying came back into the large cap companies.

The more sensitive MPI index was up by 64 points (+1.9 percent to close at 3,391. Turnover for the day was Rs 951 million with John Keells Holdings contributing Rs 104 million to turnover. The diversified conglomerate’s share swung between Rs 135.50 and Rs 144.50, but closed at Rs 140.25. On Tuesday the share closed at Rs 140.00.

Seylan Bank non voting shares closed at Rs 17.25 on turnover of Rs 60 million, while Brown and Company closed at Rs 80.50 on turnover of Rs 49 million. Brown’s dropped to a day low in morning’s trade to Rs 70.50, while Seylan Bank non voting dropped to a low of Rs 15.50. The two telecom operators also witnessed much volatility with Dialog dropping to a low of Rs 6.75 and reaching a high of Rs 7.50, before finally closing at Rs 7.25. Sri Lanka Telecom closed at Rs 45.00 which was its peak price for the day after a low of Rs 41.50

Asian markets were all in the red barring Sri Lanka and Vietnam. The Ho Chi Minh index was up 0.3 percent, but India was down 1.2 percent, Singapore was down 0.7 percent, Hong Kong down 0.3 percent and China down 0.25 percent. Japan’s Nikkei index was down just 0.03 percent

Source: First Guardian Equities