ASPI down sharply, Senthiverl buys Genesis shares in CTS

The All Share Price Index of the Colombo bourse yesterday took a hard fall losing 204.03 points (2.61%) with several Carsons related companies and the Merrill J. Fernando (MJF)controlled Ceylon Tea Services (CTS) declining sharply. But the Milanka Index was down just 22.14 points (0.33%). Turnover at Rs. 4.4 billion was down from the previous day despite several big deals and Heladiv Foods which opened trading yesterday vigorously transacted. Dr. T. Senthilverl bought nearly 1.5 million CTS at a price of Rs.650 generating a turnover of Rs.942.8 million from the Genesis Fund which had long been a major shareholder of CTS in which the MJF Group maintains dominant control.

CTS saw its share price dropping Rs.150 to close at Rs.650. The big block transacted yesterday had been offered to this group which was not interested in taking it up. "Other than the CTS block, there was a sharp decline in several Carsons related oil palm companies that dragged down the All Share Price Index," brokers said. " Most of these companies were on thin volumes, though Bukit Darah commanding one of the highest share price on the CSE, saw 64,100 shares done between Rs.1,250 and Rs.1,600 closing Rs.206.40 down at Rs.1,350.

Other Carsons controlled oil palm companies like Indo Malay lost Rs.358.80 to close at Rs.1,500 on 1,000 shares, Good Hope was down Rs.295.10 to close at Rs.1,300 on 2,800 shares and Shalimar was down Rs.195.60 to close at Rs.960 on 12,500 shares.

Outside these Carsons connected shares, Lanka Ashok Leyland lost Rs.650 to close at Rs.2,400 on nearly 0.5 million shares traded between Rs,1,000 and Rs.2,500.

Other counters that came down sharply included Hunters down Rs.116.70 to Rs.1,600 on 200 shares, HDFC down Rs.67.80 to Rs.750 on 12,600 shares, Colombo Fort Investments down Rs.66.70 to Rs.589 on 5,600 shares and J.L. Morison down Rs.328 to Rs.2,500 on 600 shares.

The biggest gainer for the day was also a Carsons company, Watapota, where a hefty rights issue is pending. The counter was up Rs.200 to Rs.8,950 on 400 shares traded between Rs.8,950 and Rs.9,490. Dimo was up sharply by Rs.133.80 to close at Rs.1,801 on 51,900 shares done between Rs.1,700 and Rs.1,900.10.

Heladiva Foods began trading yesterday with nearly 19.9 million shares done gaining Rs.10.30 on its IPO price to close at Rs.26.10 on a trading range of Rs.23.20 to Rs.29.

Commercial Bank and JKH were among blue chip gainers with ComBank up 10 cents to close at Rs.277 on 0.6 million shares and JKH up Rs.1.10 to close at Rs.293 on 0.5 million shares. Ceylon Brewery, also a Carsons connected, company gained Rs.20.70 to close at Rs.420 on 1,600 shares.

source - www.island.lk