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Thursday, December 30, 2010

Dialog boosts turnover, indices gain marginally

Turnover on the Colombo Stock Exchange at Rs.1.5 billion yesterday was down from the previous day’s Rs.1.64 billion with both indices moving up marginally thanks largely to some big trades in Dialog with plantations and chicken stock gaining, brokers said.

The All Share Price Index was up 5.84 points (0.09%) and the Milanka up 11.19 points (0.16%) with 86 decliners ahead of 74 gainers according to CSE data.

"The market was very quiet most of the day but looked up shortly before closing with some big crossings on Dialog," Prashan Fernando of Acuity Stockbrokers said. "We saw crossings of over 26 million, 10 million and 5.7 million shares at a twelve rupee price in the final minutes of trading."

He said that there were few other big parcels also done on the trading floor and not as crossings.

In the final count, Dialog was up 40 cents to close at Rs.12 on nearly 46.6 million shares done between Rs.11.50 and Rs.12 generating the day’s top turnover of Rs.558.8 million.

Poultry producers, Bairaha, Three Acre Farms and Grain Elevators also saw both price increases and quantity with Bairaha up a hefty Rs.19.90 to Rs.289.90 on nearly 2 million shares done between Rs.270 and Rs.294.

Three Acres was up Rs.7.30 to Rs.85.10 on nearly 1.1 million shares traded between Rs.78.90 and Rs.86 while Grains gained Rs.3.20 to close at Rs.72 on nearly 0.7 million shares done between Rs.68.50 and Rs.72.80.

Among plantations, Kotagala was up Rs.10.40 to Rs.111.90 on over 0.3 million shares, Kegalla up Rs.6.70 to Rs.164.90 on 61,600 shares, Namunukula up Rs.6.20 to Rs.110 on nearly 0.2 million shares and Malwatte up Rs.4.2 to Rs.78 on 67,200 shares.

Other plantations stock including Agalawatte, Balangoda, Hapugastenna, Horana, Elpitiya, Kelani Valley and Uda Pussellawa were also among the gainers.

Brokers said that retail sentiment had improved with more activity seen across the board although volumes were sluggish. They noted the indices were down by 20 points at the beginning of the day but looked up before the market closed.

source - www.island.lk