Three big deals in Bukit Darah, Carsons and Commercial Bank triggered an unexpected surge on the Colombo bourse yesterday with turnover topping Rs.4.5 billion, up from the previous day’sRs.1.55 billion, with both indices too gaining sharply – the All Share by 120.63 points (1.62%) and the Milanka by 42.38 points (0.60%) with 162 gainers strongly outpacing 32 losers.
"Overall the market was positive and we hope that it will take off after the New Year holidays which expected earnings coming in," Arjuna Dassanayake of Acuity Stockbrokers said.
He said that the two deals in Bukit and Carsons, the first of nearly 1.9 million shares and the other of over 1.4 million shares, and over 1 million ComBank transacted drove the market well into positive territory.
Although there was no confirmation, brokers and analysts believed that the Bukit and Carsons deals were intra group. They included nearly 1.2 million Bukit crossed at Rs.1,203 per share and over 1.4 million Carsons crossed at Rs.662.
Carsons closed Rs.7.20 up at Rs.677 while Bukit was up Rs.46.40 up to close at Rs.1,249.90. Brokers noted that all but a few shares done in both companies were covered by the two crossings.
ComBank closed Rs.1.40 up at Rs.273 on million shares traded between Rs.270.10 and Rs.273 with three crossings of 0.5 million, 0.2 million and 0.3 million shares done at Rs.275. Here too nearly all the shares traded during the day were accounted for by crossings.
Other useful contributors to turnover included Browns, up Rs.9.40 to close at Rs.350 on nearly 0.5 million shares done between Rs.340 and Rs.353, Central Finance gaining Rs.91 to close at Rs.1,369.90 traded between Rs.1,270 and Rs.1,385, Lion up Rs.22.10 to Rs.251 on nearly 0.6 million shares done between Rs.235 and Rs.260 and Hayleys up Rs.7.90 to Rs.424.90 on nearly 0.2 million shares done between Rs.410 and Rs.425.
Other counters that showed quantity and price gains included Lankem, up Rs.20.30 to Rs.484 on over 0.1 million shares, United Motors, up Rs.17.50 to Rs.181.50 on over 0.3 million shares and Distilleries up a rupee to Rs.190.60 on nearly 0.3 million shares.
Dimo was up Rs.110.20 to close at Rs.1,699 on 24,800 shares while JKH moved up 30 cents to Rs.296.90 on over 0.1 million shares.
Brokers said that there was a lot of green on the trading boards yesterday with only two counters, Bairaha Farms and Royal Ceramics, which were traded in significant quantities dipping slightly at close – Bairaha by 60 cents and Royal Ceramics by 20 cents.
The CSE announced that Expo Lanka Holdings was making an offer for subscription of 172 million shares priced at Rs.14 per share to be listed on the Main Board of the Exchange with subscriptions opening on May 12.
The offer will be lead managed by John Keells Capital while CT Capital (Pvt) Ltd will be joint managers and SSP Corporate Services registrars.
source - www.island.lk
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