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Friday, August 13, 2010

Indices also down but support at lower levels Turnover slumps below Rs. 1 billion

Turnover on the Colombo bourse yesterday slumped below the billion rupee mark and both indices also came down – the All Share by 43.80 points (0.86%) and the Milanka by 53.03 points (0.92%) with 96 decliners outpacing 56 gainers.

"We saw turnover going below billion rupees after a long time," Asmath Iqbal of John Keells Stockbrokers said. "Retailers and some high net worth investors were not particularly active and that too impacted on turnover. There was a wait and see attitude."

He said there was a lot of support for the market at lower price levels.

The day’s biggest turnover generator was Ceylon Grain Elevators, up Rs.2.70 to close at Rs.35.70 on nearly 3.5 million shares done between Rs.33.50 and Rs.35.70 contributing Rs.122.6 million to the business volume.

There were large number of trades in this stock including three parcels of 100,000 and over transacted at Rs.35 and Rs.34.80.

Dialog continued to trade briskly losing 10 cents to close at Rs.9.90 on 7.8 million shares done between Rs.9.80 and Rs.10 while both Touchwood and Environment Resources Investments (ERI) were among the day’s gainers.

Touchwood was up 60 cents to close at Rs.33.20 on over 1.6 million shares done between Rs.31 and Rs.33.90 while ERI gained Rs.4.30 to close at Rs.100 on over 0.4 million shares done between Rs.93 and Rs.102. However, ERI warrants of three maturities closed down, but not particularly sharply.

JKH pulled both indices down losing Rs.5.70 to close at Rs.250.50 although on a thin volume of 72,600 shares while Commercial Bank too was down Rs.1.20 to Rs.195 on 94,000 shares.

Other stocks that gained yesterday included Malwatte (non-voting), up Rs.34.70 to Rs.44 on over 0.2 million shares and Malwatte, up Rs.3.20 to Rs.69.90 on over 0.1 million shares.

Richard Pieris was also up Rs.1.40 to Rs.122 on over 0.1 million shares and Renuka Holdings, up Rs.2.40 to Rs.39 on 0.4 million shares.

PC House announced the basis of its IPO share allotment with applications up to 2,000 (inclusive) being fully satisfied while applications for over 2,000 shares will get a minimu of 2,000 and 18.1064% of the balance.

LMF announced a first and final dividend of Rs. 1.50 per share XD from Sept. 16 and payment on Sept. 27.

The Sampath Bank announced that an EGM will be held on Sept. 21 seeking shareholder approval of a two for one subdivision of shares held until after trading closes on Oct. 6.

The bank will also pay a scrip dividend of one share for every 120.7 shares held valued at Rs. 326 per share. There is no payment due on this dividend.

source - www.island.lk