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Friday, January 14, 2011

Burse sustains recent gains with indices virtually flat

The Colombo bourse sustained recent gains yesterday posing a turnover of Rs.3.5 billion, up from the previous day’s Rs.1.7 billion, with the two indices closing in opposite directions – the All Share gaining 7.03 points (0.10%) while the Milanka lost a marginal 0.38 points (0.01%) with 119 losers ahead of 67 gainers according to the CSE figures.

The All Share Price Index remains above the 7,000 point mark crossed on Wednesday, a level unsurpassed since the record breaking bull run last year which peaked in October.

"We saw some mixed sentiment with both indices up around 20 points during early trading but easing later with some profit taking along the way," Prashan Fernando of Acuity Stockbrokers said. "Retailers continued to dominate the market."

Laugfs Gas, still the biggest turnover generator, lost some steam yesterday declining Rs.6.70 to close at Rs.45.60 on nearly 10.8 million shares traded between Rs.45.50 and Rs.57.50 with retailers very active in the stock.

Laugfs non-voting shares too lost Rs.4 to close at Rs.36.50 on 3.2 million shares done between Rs.36.50 and Rs.43.

Environment Resource Investments gained a hefty Rs.8.60 to close at Rs.112 on nearly 1.9 million shares done between Rs.105 and Rs.114 while its warrants also did nicely – W0002 up Rs.5.20 to close at Rs.53 on 1.8 million and W0006 up Rs.5.60 to close at Rs.49.80 on nearly 1.9 million.

Seylan Merchant Leasing, both voting and non-voting shares, also gained on quantity with the voting share up 30 cents to Rs.3 on over 29.9 million and the non-voting share up 10 cents to Rs.1.30 on nearly 72.6 million shares.

LOLC and Dimo were among the blue chip gainers with LOLC up Rs.8.90 to Rs.135 on nearly 0.4 million shares traded while Dimo gained Rs.64.50 to Rs.1,450 on 28,900 shares.

Among the chicken stock, Three Acres was down Rs.2.20 on 0.1 million shares while Bairaha declined Rs. 6.50 to close at Rs. 418.40 on 66,700 shares traded.

Emagewise (Pvt) Ltd announced a mandatory offer at Rs.86 per share for all Citrus Leisure PLC shares not owned by it. The company and connected parties own 31.42% of Citrus.

source - www.island.lk