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Saturday, October 2, 2010

``Crazy day,’’ says broker CSE rockets through the roof

The Colombo bourse rocketed yesterday on a Rs.6 billion turnover, up from Rs.5.8 billion the previous day, with both indices going through the roof – the All Share by 150.56 points (2.21%) and the Milanka by 276.34 points (3.66%) with Dockyard, Commercial Bank, Richard Pieris and JKH generating high business volumes.

"It was a crazy day," Asmath Iqbal of John Keells Stockbrokers (JKSB) said. "The turnover was a brilliant Rs.6 billion and the indices shot up to all time highs on a stellar performance.

Aitken Spence Hotels announced a share split of seven shares for each share held helping drive up the market. The counter traded between Rs.725 and Rs.900 yesterday gaining Rs.134.30 to close at Rs.870 on over 0.1 million shares.

Brokers noted that this share has been moving up sharply in recent weeks with speculation of a possible share split.

Yesterday’s biggest turnover generator was Dockyard where nearly 4.3 million shares were done between Rs.265 and Rs.282.90 gaining Rs.11.20 to close at Rs.284.90 with one large parcel of over 3.4 million shares crossed at Rs.270 during early trading.

Commercial Bank continued its ascent gaining Rs.11 to close at Rs.295 on nearly 1.7 million shares traded between Rs.285 and Rs.295 while Richard Pieris was up Rs.2.60 on over 1.8 million shares to close at Rs.174 on a trading range of Rs.169.90 and Rs.176.60.

JKH posted a 7.7% gain on its share price - moving up Rs.25.60 to close at Rs.358 on nearly 0.8 million shares done between Rs.330.50 and Rs.360.

NDB too continued to gallop upwards gaining Rs.30.20 to close at Rs.410 on nearly 0.6 million shares traded between Rs.381 and Rs.410.

HNB was another banking counter posting a substantial Rs.24.70 gain to close at Rs.411.60 on nearly 0.5 million shares done between Rs.390 and Rs.418 while Sampath was up Rs.16 to close at Rs.530 on nearly 0.3 million shares done between Rs.514.10 and Rs.531.

"Several sharp gains in many shares where quantity was seen helped push up both indices," Iqbal of JKSB said.

DFCC lost Rs.2.30 to close at Rs.488 on nearly 0.3 million shares traded between Rs.488 and Rs.500 following Thursday’s announcement of a one for one bonus issue.

Seylan Bank was up a rupee to Rs.114 on 0.7 million shares while Seylan (non-voting) edged down 20 cents to Rs.58.80 on nearly 1.4 million shares.

HNB X kept pace with the bank’s voting shares closing Rs.8 up at Rs.247 on nearly 0.3 million shares traded.

source - www.island.lk