The Colombo bourse continued to gain yesterday on a turnover of Rs.1.64 billion, up from the previous day’s Rs.1.11 billion, with both indices up – the All Share by 19.58 points (0.30%) and the Milanka by 37.09 points (0.53%) with 78 gainers slightly below 79 losers.
"Overall volumes were thin but turnover was relatively healthy in the context of the holiday period," a broker said.
Business volumes yesterday came mainly from HNB X, Distilleries, Touchwood, JKH and Commercial Bank with HNB X being the only gainer among these stocks.
The counter, with nearly 0.9 million shares traded between Rs.205 and Rs.210.40 gained Rs.4.40 to close at Rs.209.40 generating the day’s top turnover of Rs.174.6 million.
Distilleries lost 60 cents to close at Rs.171 on nearly 0.9 million shares done between Rs.170 and Rs.173 while Touchwood was down Rs.1.50 to Rs.28.50 on nearly 3.7 million shares done between Rs.27.30 and Rs.30.
Brokers said that there was retail play on HNB X and Touchwood, more of th latter, although some large HNB X (parcels of 100,000s) were done at a price of Rs.205.
"There were no crossings on Distilleries with all trades done on the market," a broker said. "Touchwood also saw lot of retail participation."
Hotel Reefcomber which announced the purchase/99-year lease of a large extent of waterfront land in Kalpitiya was up 30 cents on 0.4 million ordinary shares that closed at Rs. 43.20 while two of its warrants were up 30 and 20 cents respectively and one down 10 cents.
The company has invested Rs. 67. 2 mn. on the purchase of approx. 43 acres Kalpitiya land and a further Rs. 55 mn. to lease over 35 acres to build a 4-star resort with 28 water villas on the property commanding 700 meters of beachfront.
JKH was down 80 cents to Rs.302 on slightly over 0.3 million shares done between Rs.301.50 and Rs.303 while Commercial Bank lost 90 cents to close at Rs.261.90 on nearly 0.3 million shares traded between Rs.261 and Rs.263.
Dankotuwa Porcelain and Laugfs Gas also saw volume with Dankotuwa up Rs.3.70 to Rs.66.80 on nearly a million shares and Laugfs up 50 cents to Rs.27 on over 1.8 million shares.
The Merchant Bank of Sri Lanka (MBSL) said in a Stock Exchange filing that its CEO, Mr. A.P.G. Karunathillake, has been suspended from service by the board with effect from December 21 pending an inquiry into certain alleged acts of misconduct.
MBSL Chairmen M.R. Shah communicated this to the CSE in terms of Exchange’s corporate disclosures rules.
source - www.island.lk
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