The Colombo bourse yesterday sustained its upward movement for the third day running posting a turnover of Rs.2.24 billion, up from the previous day’s Rs.2.23 billion, with both indices gaining – the All Share by 55.17 points (0.85%) and the Milanka by 69.06 points (1%) with JKH continuing to be the main business generator.
130 gainers comfortably outpaced 32 losers. There will be half a day’s trading today (Friday).
"The market was positive for the third day in a row with JKH leading the turnover league and the high flying poultry companies losing some steam at close," Prashan Fernando of Acuity Stockbrokers said.
JKH saw over 2.5 million shares traded between Rs.299 and Rs.300.60 gaining a rupee to close at the latter price contributing Rs.763.5 million to turnover. There were no crossings and most of the trading was at a price of Rs.300.
Bairaha Farms, Grain Elevators and Three Acre Farms were all down at the close after bettering the previous close in early trading and demonstrated quantity. Bairaha lost Rs.6.90 to close at Rs.270.10 on nearly 0.5 million shares done between Rs.270 and Rs.294, Grains were down 30 cents to close at Rs.71 on 1.4 million shares done between Rs.71 and Rs.74 and Three Acres down Rs.2.20 to close at Rs.78 on over 0.6 million shares done between Rs.78 and Rs.84.50.
Retail play was evident in Laugfs Gas, Odel (where quantities were seen after some days) and the poultry producers, brokers said.
Laugfs was up 90 cents to Rs.26.30 on over 2.6 million shares while its non-voting share gained Rs.1.20 to close at Rs.18.60 on nearly 2.6 million shares traded yesterday.
Odel with nearly 1.6 million shares done was up Rs.1.90 to Rs.36.60 while Commercial Bank was up Rs.2.40 to Rs.261 on over 0.3 million shares done between Rs.259.50 and Rs.261.
Lanka Tiles was a sharp gainer, up Rs.9.70 to close at Rs.116.90 on nearly 0.4 million shares done between Rs.112.50 and Rs.120.60, while Lanka Walltiles, where a capitalization of reserves was announced yesterday, closed 30 cents down at Rs.124 on over 0.1 million shares traded.
Walltiles announced that one new share will be issued for every five held by capitalizing its reserves at Rs.24 per share.
Singer Finance announced the final tally of IPO applications, subject to realization of cheques, saying that 21,519 applications with payments of Rs.1.73 billion by cheque and bank drafts and 378 applications totaling Rs.52.2 billion covered by bank guarantees had been received. No basis of allotment has yet been announced.
source - www.island.lk
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