Financial Times

MBSL midcap index revised
The Merchant Bank of Sri Lanka Ltd revised its MBSL Midcap Index with effect from January 2 under its annual revision process since being launched in 1999.
The MBSL Midcap Index, computed by the Merchant Bank of Sri Lanka Limited (MBSL), is aimed at the proper measurement of price movements of medium sized companies. The range for market capitalisation in the year 2002 was Rs 200 million - Rs 2 billion. In view of the stock market becoming more active, this range was adjusted considering the movements in the ASPI annually.

Accordingly the range was adjusted on market capitalisation for 2005 which was Rs 850 million – Rs 8.5 billion. This year’s revision has resulted in the replacement of 14 stocks with new companies in the Index. The additions are Asia Capital Limited, ACL Cables Limited, Asiri Hospitals Limited, Lanka Ceramics Ltd, Ceylon Investments Ltd, Ceylon Glass Company Limited, Lanka Walltiles Limited, Merchant Bank of Sri Lanka Limited, Hayleys MGT Knitting Mills Limited, Sampath Bank Limited, Pelwatta Sugar Industries Limited, The Finance Company Limited, Tokyo Cement Lanka Limited, and Touchwood Investments Limited.

The outgoing stocks are Eden Hotel Lanka Limited, Marawila Resorts Limited, C T Land Limited, Hatton National Bank Limited, Haycarb Limited, Ceylon Oxygen Limited, Connaisance de Ceylan Ltd, Colombo Land & Development Limited, Lighthouse Hotels Limited, Lanka Milk Foods (CWE) Limited, Lanka Orix Leasing Co. Limited, Trans Asia Limited, NDB Bank Limited and Union Assurance Limited.
The composition of the index is well diversified as 50% of the stocks are in the service sectors and the balance 50% in the manufacturing sectors.

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