Sri Lanka's Sampath Bank gets new MD

Sept 30, 2011 (LBO) - Sri Lanka's Sampath Bank said deputy managing director M Y A Perera will take-over as managing director from January 01, 2012, as current managing director Harris Premaratne is leaving.
Sri Lanka's Daily FT newspaper said Premaratne will take over as the head of a new bank started by Sri Lanka's Cargills group.

Sampath closed at 218.10 rupees, down 70 cents.

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Sri Lanka stocks end up 0.5-pct

Sept 30, 2011 (LBO) - Sri Lankan stocks closed firmer Friday for the second day running in speculative trade and price curbs being imposed on Singer Industries (Ceylon) after it rose sharply, brokers said.

The main All Share Price Index rose 0.53 percent (35.64 points) to 6,783.55, while the more liquid Milanka index climbed back over the 6,000 mark, rising 0.78 percent (46.96 points) to close at 6,045.11, according to stock exchange figures.
Turnover was 2.36 billion rupees.

Asian Alliance Insurance, which was brought under the 10 percent price band Thursday, after rising almost 50 percent, closed at 358.50 rupees, up 7.90, after hitting a high of 384.70.

Singer Industries (Ceylon) was the day's highest gainer, closing at 384.10 rupees, up 66.90 or 21 percent prompting the regulator to bring it under the 10 percent price band restricting daily price movements. It hit a high of 439 rupees during the day.

Blue Diamonds Jewellery Worldwide non-voting shares were the most actively traded stock, closing at 4.90 rupees, up 10 cents, with over 28.2 million shares done.

The Lanka Hospital Corporation was also actively traded, closing at 63 rupees, up 3.60 with two million shares changing hands.

Ascot Holdings, which was also brought unde the 10 percent price band Thursday, was also heavily traded, accounting for the day's biggest turnover. It closed at 186 rupees, down 2.90.

Regnis (Lanka), which accounted for the second highest turnover, closed at 440.20 rupees, up 19.90.

There was a sole crossing or off-market private deal of 800,000 shares of Lanka Orix Leasing Company at 99 rupees each. It closed at 98.80 rupees, up 1.10.

source - www.lbo.lk

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Bourse closes week on upbeat note

Singer Group continues upward roll

The Colombo bourse closed the week yesterday on an upbeat note with tidy gains in both indices on what brokers called a ``decent’’ turnover of Rs.2.36 billion, down from the previous day’s Rs.2.8 billion, with 125 gainers comfortably outpacing 71 losers.

The All Share Price Index was up 35.64 points (0.53%) and Milanka up 46.96 points (0.78%) with Ascot Holdings dominating business volumes with nearly 1.4 million shares done between Rs.175 and Rs.207.70. The counter closed Rs.2.90 down at Rs.184 generating a turnover of Rs.248.9 million.

Singer group shares led by Singer Industries continued to fly with Regnis as well as the parent also moving up. Singer Industries gained Rs.66.90 to close at Rs.368 on over 0.2 million shares done between Rs.322 and Rs.439 while Regnis was up Rs.19.90 to close at Rs.498.70 on over 0.3 million shares traded between Rs.420 and Rs.449. Singer Sri Lanka, the parent, gained Rs.5.80 to close at Rs.133.60 on nearly 0.7 million shares traded between Rs.130.60 and Rs.138.50.

Brokers said that none of the stocks captured within the price band on Thursday reached the permitted ceiling. These included Ascot, Regnis and Asian Alliance Insurance which closed Rs.7.90 up at Rs.354 with nearly 0.2 million shares traded between Rs.335 and Rs.384.70.

One crossing of 800,000 LOLC at Rs.99 was posted. The counter gained Rs.1.10 to close at Rs.99 on 0.9 million shares traded between Rs.98 and Rs.100.

"Although there was one parcel of 100,000 and a couple more slightly smaller traded on the floor, there was a great deal of retail focus on Ascot," a broker said.

Lanka Hospitals too attracted interest gaining Rs.3.60 to close at Rs.62 on 2 million shares traded between Rs.60.50 and Rs.64.50 while Blue Diamonds also saw quantity with the non-voting share up 10 cents to close at Rs.4.90 on nearly 28.3 million shares traded while the voting share edged down 20 cents to close at Rs.9.80 on over 6.8 million shares traded.

Other shares that attracted retail interest included e-Channeling, closing 40 cents up at Rs.8.30 on 13.8 million shares done between Rs.8 and Rs.8.70.

JKH was up 90 cents to close at Rs.206 on nearly 0.2 million shares done between Rs.205 and Rs.208.

source - www.island.lk

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Stocks at one-week high led by blue-chips

COLOMBO (Reuters): Sri Lanka’s stock market gained on Friday for the second day led by heavyweights and bluechips while retail speculative buying continued as the bourse recovered from near oversold territory, while the rupee edged up before closing flat.

The country’s main share index closed 0.53 per cent or 35.64 points firmer at 6,783.55. It hit a two-month low on Wednesday. It is still Asia’s best performer with a return of 2.23 per cent on the year.

Top private lender Commercial Bank and market heavyweight John Keells Holdings rose 3.6 per cent and 0.5 per cent respectively, helping the overall index gain.

The bourse witnessed a foreign outflow of Rs. 11.6 million on Thursday, and thus far in 2011, offshore investors have sold 17 billion after a record 26.4 billion in 2010.

Sri Lanka’s banking sector pushed the market up.

Turnover was Rs. 2.4 billion ($ 25.4 million), in line with last year’s average of 2.4 billion, but less than this year’s 2.7 billion.

Friday’s total volume was 107.4 million, against a five-day average of 76.3 million. The 30-day and 90-day average trading volumes were 154.8 million and 142.3 million. Last year’s daily average was 67.9 million.

The rupee closed steady at 110.18/20 a dollar, but it edged up to 110.17 during trade as banks sold dollars to buy rupees due to low liquidity in the local currency, dealers said. Later, importer dollar demand balanced that out, leaving the rupee to close steady.

The Central Bank mopped up Rs. 9.1 billion from the market on Friday through a repo auction at 7.08 per cent.

source - www.ft.lk

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