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Wednesday, December 22, 2010

Some foreign activity despite holiday mood - Activity in CommBank & JKH drives turnover to Rs. 1.3 bn.

Activity in Commercial Bank and JKH including foreign interest pushed up turnover on the Colombo bourse to over Rs.1.3 billion yesterday with the All Share Price Index gaining 18.06 points (0.28%) while the Milanka was marginally down 5.20 points (0.08%) with 88 gainers outpacing 52 losers. "Activity levels improved with concentration on Commercial Bank and JKH," Prashan Fernando of Acuity Stockbrokers said. "There were also some crossings on these stocks."

Both ComBank and JKH closed down with ComBank which generated the day’s top turnover down Rs.3.50 to Rs.257 on nearly 1.4 million shares done between Rs.255 and Rs.259 contributing Rs.355.6 million to the business volume. JKH closed 80 cents down at Rs.298 on nearly 0.9 million shares done between Rs.296.50 and Rs.299.70 generating Rs.261.3 million turnover.

Brokers said that both indices were up for much of the day although the Milanka edged down marginally at close largely on account of closing prices on ComBank and JKH.

Poultry producers continued to do well yesterday, particularly Bairaha Farm which has announced expansion plans, gaining Rs.24.30 to close at Rs.250 on over 0.3 million shares done between Rs.225 and Rs.250.10.

Grain Elevators and its subsidiary, Three Acre Farms, were also up, Grains by Rs.2.70 to Rs.69.30 on over 0.9 million shares traded between Rs.66 and Rs.69.30 and Three Acre Farms by Rs.5.60 to Rs.77 on over 0.8 million shares done between Rs.70 and Rs.77.

Retail interest in the non-voting shares of Tokyo Cement continued with nearly 1.3 million shares done yesterday gaining 30 cents to close at Rs.38.40 while the Tokyo voting share was up Rs.1.90 to Rs.54.80 on 0.2 million shares traded.

Laugfs Gas also saw interest with the non-voting share gaining 90 cents to close at Rs.17 on nearly 3.8 million shares while the voting share was up 70 cents to Rs.25 on over 1.7 million shares traded.

Brokers said that the holiday mood was setting in but some foreign interest was seen during the day.

source - www.island.lk