Friday, September 10, 2010

CSE gains 2.43% this week; ASPI crosses 6000 mark

 During the holiday shortened week the All Share Price Index (ASPI) increased 142.92 points to close at a new all time high of 6023.41 points, while the Milanka Price Index (MPI) also increased by 211.50 points  to a new high of 6278.31 points.  The daily average turnover was SLRs.4.3bn compared to SLRs.3bn last week and the week ended with foreign buying amounting to SLRs.1.9bn whilst foreign selling was SLRs.4.4bn.

Monday’s single largest turnover was reported on Hemas Hodings which closed up SLRs.2.50 (6.3%) at 42.40 with more than 6.3mn shares actively traded. Grain Elevators was amongst the actively traded top gainers with 3.8mn shares traded between SLRs.48.10 and 52.40 while the share closed up SLRs.4.60 (9.6%) at 52.30. Day’s most heavily traded REEF (9.2mn shares) continued to gain approximately 10% to close at SLRs.8.00. Lanka IOC, C.W. Mackie, Coco Lanka and Ascot Holdings were other stock amongst day’s top gainers. The indices reported marginal losses of 21.95 points and 30.79 points on ASPI and MPI as certain investors booked early profits.

On Tuesday total turnover reached SLRs.5.9bn to which the largest contribution of approximately SLRs.2.8bn was made by Aitken Spence which closed up SLRs.249.50 (10%) at 2,745.30 with 1.04mn shares traded of which a total of 959,600 shares crossed at SLRs.2,700 that was bought by Distilleries Company (DIST) increasing their stake to 22%. Keels Hotels also made a significant contribution to turnover and closed up at SLRs.21.60 with approximately 40mn shares traded being the most heavily traded stock. Reef was amongst the top gainers and closed up 80 cents (10%) at SLRs.8.80.

On Wednesday the market surged with great vigour with ASPI and MPI gaining 77.63 points and 118.65 points respectively with total turnover reaching SLRs.4.8bn. JKH closed up SLRs.10.40 (4%) at 274.50 posting day’s largest turnover of SLRs.1.35bn with more than 5mn shares traded of which approximately a total of 1.45mn shares traded at SLRs.264.00 through crossings while a further 3.26mn shares traded at SLRs.270.00. Approximately1.87mn shares of DIST  actively traded during the day and the share closed up SLRs.4.90 at 157.00 posting day’s second largest turnover. There was heavy interest on the plantation sector amongst which Kegalle Plantations, Kotagala, Madulsima, Horana and Balangoda Plantations were the top gainers which closed up above 9% during the day.

On Friday total turnover amounted to SLRs.4.2bn that was dominated by blue chip counters. Largest share of turnover was contributed by JKH which closed up SLRs.5.60 at 280.10 with 2.3mn shares traded of which a total of 1.95mn shares traded through crossings. NDB, DIST, Richard Pieris (RICH), Seylan Bank, and HNB also made significant contribution in terms of turnover. RICH closed up SLRs.14.30 (10%) at 157.90 with more than 1.1mn shares traded as the company announced a one in to fifteen share split. DIST was amongst the most actively traded stocks for the day where approximately 1.25mn shares traded between SLRs.158.50 and 172.00 while the share closed up SLRs.9.90 (6.3%) at 166.90. Indices made significant gains during the day reaching new all time highs with the ASPI passing the 6000 mark for the first time.

The market will continue its upsurge at a more moderate phase in the coming week, despite possible profit taking by investors on counters which have reported unprecedented growth in price in the recent week.

source - www.dailymirror.lk

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