Thursday, October 21, 2010

Turnover hits Rs. 5.2 bn. but indices down

The Colombo bourse yesterday topped Rs.5 billion in turnover, up from the previous day’s Rs.3.03 billion, but the indices were down with the market unable to sustain Tuesday’s gains, brokers said.

The All Share Price Index was down 39.39 points (0.59%) and the Milanka down 78.10 points (1.07%) with 82 decliners ahead of 72 gainers.

Turnover at Rs.5.2 billion was up from the previous day’s Rs.3.03 billion.

Brokers said that declines in the closing prices of JKH, HNB, Dialog, DFCC and NDB pushed down the indices.

"Volumes were good but overall the market was down," Prashan Fernando of Acuity Stockbrokers said. "JKH was the day’s biggest business generator accounting for nearly half the turnover with strong contributions from HNB and Distilleries."

Brokers said that there was a big seller of JKH, possibly foreign, with several crossings – the bigger parcels going at Rs.300 and some smaller parcels at Rs.305 with quantities sold in the market as well.

Over 7.9 million JKH was traded between Rs.302.50 and Rs.310 with the counter closing Rs.6.30 down at Rs.303.90 contributing nearly Rs.2.4 billion to turnover.

HNB with nearly 1.6 million shares traded between Rs.399 and Rs.415 closed Rs.9 down at Rs.400 generating Rs.627.9 turnover with several crossings at prices of Rs.400 and Rs.405.

Distilleries was up Rs.1.60 to close at Rs.181.60 on nearly 3.3 million shares traded between Rs.181.30 and Rs.184 generating a business volume of Rs.599.2 million.

Brokers said that there was renewed interest in Reefcomber with 7.5 million shares done between Rs.17.50 and Rs.20.70 gaining Rs.2.20 to close at Rs.20.50.

The banking sector continued to show volume with some banks gaining in price while others were down. Stocks which moved yesterday included Seylan X (nearly 2.5 million shares), DFCC (0.3 million), Sampath (0.5 million), NDB (over 0.3 million), ComBank (over 0.3 million), NTB (nearly 0.4 million), Pan Asia (over 0.3 million) and Seylan Bank (over 0.1 million).

Gainers among banking stock were Sampath, up 2.60 to Rs.272, ComBank, up 20 cents to Rs.265.50 and Pan Asia, up 50 cents to Rs.56.40. On the losing side were NDB, down Rs.4.10 to Rs.375, NTB down Rs.1.90 to Rs.87 and Seylan down Rs.1.60 to Rs.104.

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