Saturday, October 16, 2010

Bourse closes virtuallyflat in sluggish day

The Colombo bourse closed virtually flat yesterday with both indices marginally up – the All Share by 4.58 points (0.07%) and the Milanka by 10.09 points(0.14%) on a turnover of Rs.1.77 billion, down from the previous day’s Rs.2.83 billion, with 85 gainers ahead of 75 losers.

"It was a very sluggish day with the indices virtually flat, sometimes a little down and other times a bit up," Prashan Fernando of Acuity Stockbrokers said. "There was little active trading and volumes were low."

Distilleries was the main business generator with nearly two million shares done between Rs.169 and Rs.174 gaining Rs.3.70 to close at Rs.173 contributing Rs.334.3 million to turnover.

Several crossings at Rs.170 accounted for nearly 1.5 million of the day’s trades in Distilleries.

JKH followed losing Rs.5.70 to close at Rs.310.50 on 0.8 million shares done between Rs.310.10 and Rs.316 with 140,000 shares crossed at Rs.310.

Dimo was up Rs.4.70 to close at Rs.920 on nearly 0.2 million shares done between Rs.920 and Rs.939.90 with 150,000 shares crossed at Rs.911.

Other business generators yesterday included Aitken Spence (nearly 0.5 million shares), LOLC (55,900 shares), Seylan X (nearly 1.1 million shares), DFCC (over 0.1 million shares) and Commercial Bank (nearly 0.2 million shares).

Spence, LOLC and DFCC were on the losing side with Spence down Rs.5.80 to Rs.187.30, LOLC down Rs.13.50 to Rs.1,285.10 and DFCC down Rs.1.20 to Rs.440.10.

Several counters including Commercial Bank, Browns, Hayleys, NDB, Dialog, Sampath, ERI, Royal Ceramics (RCL), Carsons, Aitken Spence Hotels and Chevron gained on some volume in the context of a low trading day.

Many of these stocks were up only marginally, the exceptions being Hayleys, up Rs.4.50 to Rs.4.50 to Rs.342.30, ERI up Rs.6 to Rs. 78, RCL up Rs.7 to Rs.295 and Carsons up Rs.32.80 to Rs.1,039.

Mr. Dhammika Perera and connected companies continued buying into Hayleys which traded yesterday between Rs.342 and Rs.345 gaining Rs.4.50 to close at Rs.342.30 on over 0.1 million shares.

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