Ceylon Leather Products continuous its upward trend today as well: Colombo Stocks Recovered

June 9, 2010 - PRLog -- DAILY MARKET REVIEW

09/06/2010 (S.L.S.Picks) – Sri Lanka stock Market was up once again after reporting losses yesterday due to retail profit taking.

Sri Lanka Stock Picks continuously reported in our Daily market review reports that the bargain hunters may arrive for future growth stocks at any given time since the Colombo Stocks offered more than average returns for the investors who are willing to buy/ invest in stocks with a long term view.

All share price index was up by 37.14 points to close at record 4464.41 & more liquid Millanka index was up by 26.87 points to close at 5112.73

Turnover for the day was a healthy Rs 1.7b.n on back of retail buying into mid cap stocks & speculative stocks such as Ceylon Leather Products, which advanced by Rs 35.25 to close at Rs 239.25.There were 1105 trades with a volume of 694,400 shares change hands today.

Foreigners were net sellers today by Rs 85m.n. Foreign purchases were at Rs 122m.n. & foreign sales were at Rs 207m.n

Foot ware & Textile Sector index rose by massive 12.46% & was the leading sector among all sectors for the day due to price appreciation of Ceylon Leather Products Company & other companies in the sector, followed by Chemicals & Phamesuticals sector. The leading negative performing sector for the day was the Services sector.

There were 85 gainers as against 63 negative performing counters.

CLOSER LOOK

   * Ceylon Leather Products was active once again today registering a growth of 17.28% for the day on speculative grounds & was heading the top gainers list for today as well.

   * Janashakthi Insurance Company traded in large quantities today. This share has a growth potential medium to long term & this has been mentioned in our Daily market report for several days before the recent price appreciation. Today it closed at Rs 15.50 up by .75 cents.

   * There were some price movements in Hotel sector shares during today's trading session.

STOCKS TO WATCH

   * Janashakthi Insurance

   * Richard Pieris

   * Lanka Ceramics

   * Vallibal Finance

   * Oversease Reality

   * Hemas Holdings

   * Brown & Company

for more visit - http://srilankastockpicks.blogspot.com/

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