Friday, November 5, 2010

Billion rupee turnover, both indices down Dull day on CSE withplayers stuck in IPOs

Low turnover and a decline in both indices marked trading on the Colombo bourse yesterday with turnover barely topping a billion rupees and both indices down – the All Share by 16.47 points (0.25%) and the Milanka by 33.74 points (0.47%)with 105 decliners ahead of 62 advancers.

"It was a relatively dull day with the main interest being on the opening and closing of the Laugfs Gas share offer," Prashan Fernando of Acuity Stockbrokers said. "A lot of market players re stuck in the IPOs. Apart from that, we saw million shares of Commercial Bank traded and over eight million Dunamis Capital."

Commercial Bank with nearly 1.1 million shares done between Rs.274 and Rs.277 closed Rs.1.90 down at Rs.274 generating the day’s top business volume of Rs.290.4 million.

"There was one crossing of 196,000 Commercial Bank at Rs.275 and over a million shares of the counter was done at the same price," Fernando of Acuity said.

Dunamis Capital was down 50 cents to Rs.15 on nearly 8.4 million shares traded between Rs.14.80 and Rs.16.90 generating Rs.131.8 million turnover.

One of the previous owners of Kotmale Holdings acquired on Wednesday by the Supermarket giant, Cargills, Dunamis and other Janashakthi related companies with stakes in Kotmale booked substantial capital gains on the deal.

Brokers said that the five top turnover generators yesterday saw price declines – Commercial Bank by Rs.1.90, Dunamis by 50 cents, JKH by Rs.3.30, Royal Ceramics by Rs.2.80 and Aitken Spence by Rs.1.60.

JKH, with 0.2 million shares done between Rs.296 and Rs.303 closed at Rs.298, Royal Ceramics with over 0.1 million shares done between Rs.312 and Rs.315.10 closed at Rs.315 and Aitken Spence with 0.2 million shares done between Rs.179 and Rs.180.70 closed at Rs.179.

Kotmale Holdings was up Rs.2.10 to close at Rs.42.20 on nearly 0.7 million shares done between Rs.38.20 and Rs.43. A mandatory offer at Rs.40 is pending from Cargills.

CF Venture Fund which disposed nearly 30% of Kotmale on Wednesday booking a capital gain of Rs.170 million closed flat at Rs.19.30 with over 1.2 million shares traded between Rs.18.80 and Rs.20 while Ceylon Glass, with strong results under its belt, also closed flat at Rs.4.70 on 4.7 million shares traded between Rs.4.70 and Rs.5.

HNB X was up Rs.3.50 to Rs.220.10 on over 0.1 million non-voting shares done between Rs.215.10 and Rs.224 while the voting share was up Rs.7.50 to Rs.417 on 48,900 traded between Rs.408 and Rs.418.

Cargills gained a further Rs.5.50 to close at Rs.200 on nearly 0.1 million shares traded between Rs.195 and Rs.200 while Ceylon Theatres, the holding company of Cargills, was up Rs.1.80 to Rs.195 on over 0.9 million shares done between Rs.193 and Rs.196.

Dialog gained 10 cents to close at Rs.12.20 on 1.4 million shares done between Rs.12 and Rs.12.40.


source - www.island.lk

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