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Thursday, September 9, 2010

CSE continues on the up and up

Sharp gains continued on the Colombo bourse yesterday with a turnover of Rs.4.7 billion posted, down from the previous day’s Rs.5.9 billion, with both indices too moving up sharply – the All Share by 77.63 points (1.32%) while the Milanka was up 118.64 points (1.97%) with 123 gainers strongly outpacing 62 losers.

"JKH topped the turnover league with over five million shares done between Rs.264 and Rs.276," Prashan Fernando of Acuity Stockbrokers said. "The counter gained Rs.10.40 to close at Rs.274.90 generating nearly Rs.1.4 billion turnover."

There were several crossings of JKH at Rs.270 and Rs.264 with the big parcels done at Rs.270 late in the morning. The smaller crossings were done earlier at the lower price.

Distilleries too saw nearly 1.9 million shares traded gaining Rs.4.90 to close at Rs.158 on a trading range of Rs.155 to Rs.162 including two crossings at Rs.156.

HNB closed Rs.16.60 up at Rs.310 on nearly a million shares done between Rs.297 and Rs.310 including four crossings at Rs.300 and Rs.305 while Bairaha Farms saw over a million shares traded between Rs.157 and Rs.165.80 gaining Rs.15 to close at Rs.165.50.

Aitken Spence with a 15 for 01 share split pending was up Rs.40.10 to Rs.2,800 with 56,300 shares traded.

"Retailers were in this stock with many shares done in parcels of 100 and 200," Fernando of Acuity said. "The biggest parcel was 3,000 shares."

Dankotuwa continued to move gaining Rs.8.70 to close at Rs.96.50 on 1.3 million shares done between Rs.89.50 and Rs.96.50 while Grain Elevators was up Rs.5.20 to Rs.57.50 on nearly 1.9 million shares traded between Rs.52.20 and Rs.57.50.

SMB Leasing, in volume terms, was the most traded stock with 19.9 million shares done between Rs.2.50 and Rs.2.70 gaining 20 cents while LB Finance was up Rs.6.80 to Rs.202 on over 0.2 million shares done between Rs.202 and Rs.210.

Brokers said that Tuesday’s big seller of Aitken Spence was Arisaig, a foreign fund while the Distilleries Company was the buyer. Spence will now be treated as an associate in the Distilleries

source - www.island.lk