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Saturday, January 22, 2011

Milanka edges down slightly ASPI hits a new record second day running

The Colombo bourse yesterday bettered Thursday’s record with the All Share Price Index gaining a further 60.9 points (0.85%) to close at a new high of 7,254.01 points although the Milanka edged down slightly by 7.74 points (0.11%) on a turnover of Rs.4.1 billion, down from the previous day’s Rs.4.66 billion, with 105 gainers ahead of 80 losers.

"Sentiment continued to be positive and the market was mainly retail driven once again," Prashan Fernando of Acuity Stockbrokers said. "Local demand is more than compensating for lack of foreign buying."

Laugfs Gas was once again the top turnover generator with nearly 6 million shares done between Rs.49.60 and Rs.54 closing flat at Rs.50 and generating a business volume of Rs.306 million.

Other big contributors were Amana Takaful (ATL), Ceramics and Piramal Glass, all of which posted gains – ATL up 70 cents to close at Rs.4.10 on nearly 72.6 million shares done between Rs.3.50 and Rs.4.20, Royal Ceramics up Rs.6.30 to close at Rs.160 on nearly 1.5 million shares done between Rs.155 and Rs.163 and Piramal Glass up 90 cents to close at Rs.9 on nearly 23.1 million shares done between Rs.8.30 and Rs.9.20.

Brokers said that there was one crossing of 150,000 Royal Ceramics at Rs.155 while ATL saw some large parcels but no crossings.

"Nearly 15% of the company was traded yesterday but the figures would include the same shares being re-sold given the volume of trades and the price movement," a broker explained.

ERI, both the ordinary share as well as the three warrants, saw a lot of activity but there was a price decline with the share down Rs.3.60 to Rs.114 on nearly 1.4 million traded while the three warrants lost Rs.2.30, 2.50 and Rs.2.60 each with large volumes transacted.

Brokers said there was expectation in the market about an announcement from the company which accounted for the activity but no information was forthcoming.

Blue chip gainers included Dimo, up Rs.1.90, Commercial Bank up Rs.3.40, Tiles up Rs.5.40, LOLC up Rs.1.70, Hayleys up Rs.3, Cargills up Rs.17.40 and Ceylon Theatres up Rs.8.20 with all these counters showing quantity.

Citizens Development gained Rs.11.80 to close at Rs.80 on over 0.8 million shares while Sierra Cables was up 10 cents to close at Rs.6 on over 14.1 million shares.

source - www.island.lk