Thursday, August 19, 2010

Price band-hit stock recover Turnover tops Rs. 4 bn.,indices up sharply

The Colombo bourse yesterday topped the Rs.4 billion mark after several days, up from the previous day’s Rs.1.4 billion, with both indices continuing to move up sharply – the All Share by 115.95 points (2.19%) and the Milanka by 41.27 points (0.71%) with 115 gainers comfortably ahead of 51 decliners.


"Over Rs.2 billion of the day’s business came off Ceylon Investments, Lion and Ceylon Brewery and JKH," Asmath Iqbal of John Keells Stockbrokers said.

There was speculation that the three top turnover generators were transfers between related accounts in the Carsons Group but there was no confirmation.

Brokers said that announced and expected share splits continued to power the market though on thin volumes.

They reported a mix of foreign and local buying in JKH where nearly 1.5 million shares were done yesterday gaining a rupee to close at Rs.257 on a trading range of Rs.256 and Rs.258.50.

Ceylon Investments, the top turnover generator which contributed over a billion rupees yesterday, saw one big parcel of over 2 million shares done at a price of Rs.490. The share gained Rs.5.70 to close at Rs.500 trading between Rs.490 and Rs.500.

Lion was up Rs.3.50 to close at Rs.158 on nearly 3.3 million shares done between Rs.154 and Rs.158.50 including two big parcels – one of over 2.3 million shares and the other of 4.9 million shares done at a price of Rs.154.

Brewery closed flat at Rs. 258.70 on 1.7 million shares traded at this price with two parcels of over 0.9 million and slightly over 0.8 million being the only trades.

Brokers said that interest in Distilleries evident yesterday was possibly related to that company owning 18% of Aitken Spence where a share split is rumoured but unconfirmed. Distilleries gained Rs.1.50 to close at Rs.143.50 on over 1.3 million shares done between Rs.142 and Rs.145.

The recovery of some price band-hit shares, including Ceylon Leather Products, Touchwood, ERI and its warrants and Dankotuwa continued yesterday with Touchwood gaining Rs.1.30 to close at Rs.36.50 on nearly 3.7 million shares done between Rs.34.40 and Rs.36.70 while ERI was up Rs.4 to Rs.102.30 on over 0.4 million shares done between Rs.100 and Rs.106.50.

The ERI warrants too showed both upward price movements and volume with W0006 up Rs.4.50 to Rs.49.50 on over 0.7 million traded, W0003 up Rs.4.50 to Rs.49.80 on nearly 0.6 million and W0002 up Rs.4.80 to Rs.53.30 on 0.5 million.

Leather was up Rs.15.10 to Rs.245 on over 0.1 million done between Rs.232.40 and Rs.248.90 and Dankotuwa up Rs.5.20 to Rs.57.50 on nearly 0.7 million shares done between Rs.56.90 and Rs.57.50.

The Renuka Holdings group announced dividends for 2009/10 with Renuka Agri declaring Rs.0.10 first and final per share tax-free, XD from September 28 and payment on September 30 after shareholder approval is received at an AGM on September 27.

Coco Lanka announced Re.1 per share first and final (Rs.0.94 tax-free) for both the voting and non-voting shares XD from September 28 and payment on September 30 after September 27 AGM.

Renuka Holdings announced a dividend of Rs.0.80 first and final for its voting and non-voting shares XD from September 28 and payment on September 30 after an AGM on September 27.

source - www.island.lk

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