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Wednesday, February 2, 2011

Gap between ASPI & Milanka widens : Retailers keep running the bourse

Turnover on the Colombo bourse topped Rs.3.2 billion yesterday, up from Rs.3.18 billion the previous day, with the indices closing in opposite directions – the All Share up 15.90 points (0.22%) while the Milanka was down 2.99 points (0.18%) on a trading day that was strongly retail dominated. "We saw large volumes in Laugfs Gas, Colombo Fort Land and Buildings, Citrus Leisure and Grain Elevators traded with retailers driving the market," Prashan Fernando of Acuity Stockbrokers said. Brokers noted that the gap between All Share Price Index and the Milanka Index which the ASPI overtook last week continued to widen with the All Share gaining and the Milanka, tracking mostly blue chips, declining.

Laugfs saw its voting share closing Rs.1.70 down at Rs.53.90 with nearly 7.8 million shares traded between Rs.53 and Rs.58.60 generating the day’s biggest turnover of Rs.433.2 million.

Colombo Fort Lands followed, its share price fluctuating widely gaining Rs.41.10 to close at Rs.401 with over a million shares done between Rs.354 and Rs.402.

Though the Laugfs voting share was down, the non-voting share gained Rs.1.80 to close at Rs.42 with 4.1 million shares done between Rs.46.50 and Rs.44.50 while Grain Elevators, chasing high-flying Bairaha Farms, gained Rs.6.80 to close at Rs.215.50 on nearly 0.8 million shares done between Rs.205 and Rs.215.50.

Other contributors to turnover included PC House, up 90 cents to Rs.28.50 on nearly 4.4 million shares done between Rs.27.10 and Rs.30.50 and Dimo up Rs.30.90 to Rs.1,510 on 67,300 shares traded between Rs.1,449 and Rs.1,510.

Among the blue chips, JKH gained 60 cents to close at Rs.295 on nearly 0.2 million shares while Hayleys, where a mandatory offer at Rs.380 from Mr. Dhammika Perera and connected parties is pending, closed Rs.4 down at Rs.410 on 79,400 shares.

Ceylon Tobacco Company (CTC) announced a final dividend for 2010 on the back of strong results, gained Rs.16.70 to close at Rs.375 while LOLC closed 50 cents down at Rs.137.10 on a little over 0.2 million shares traded.

CTC announced a final dividend of Rs.7.22 per share XD from March 30 and payment on the same day after the March 29 AGM.

This final dividend was on top of four interim dividends totaling Rs.19.95 already paid on profit after-tax of Rs.5.1 billion last year.

source - www.island.lk