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Friday, April 8, 2011

Illiquid stocks gain momentum for Avurudu

By Jithendra Antonio

Despite dull sentiments in the past three days, highly illiquid listed shares of Colombo bourse were seen trading frantically, pushing yesterday’s turnover to Rs.1.68 billion.

Illiquid shares that hardly attract retailers and parcel buyers were the highest gainers during the day including Kalamazoo Systems (KZOO), J.L. Morison Sons & Jones (Ceylon) PLC (MORI), Hunters & Company Limited (HUNT), Ceylon breweries PLC (BREW) and Alufab PLC (ALUF).

However, only 2,500 of Kalamazoo Systems (KZOO) changed hands at Rs.5.57 million and Alufab (ALUF) almost reached Rs.80 per share just before the last half hour of the market day. 139,600 shares traded with a contribution of Rs.9.6 million for the day’s turnover.

Kalamazoo Systems (KZOO) rose Rs.810 closing at Rs.2430 whilst J.L. Morison Sons & Jones (Ceylon) PLC (MORI) closed at Rs.2697.70 up by Rs.537.70 (24.89%).

Hunters & Company Limited (HUNT) closed at Rs.2,190 up by Rs.290 (15.26%) and Ceylon Brewery PLC (BREW) rose by Rs.62 closing at Rs.475 with a 15.01% increase.

There were 98 listed gainers and 84 losers and the All Share Price Index (ASPI) slightly appreciated by 20.95 points to 7,378.73 points whilst the Milanka Price Index (MPI) rose 14.29 points to 7,009.3 during the day.

Miramar beach Hotel PLC (MIRA), Lanka Ashok Leyland PLC (ASHO),Huejay International Investments Plc (HUEJ) and radiant gems international (REGM) were also among the top ten gainers.

Foreigners bought shares to the tune of Rs.125.29 million and they sold shares worth Rs.107.03 million.

Several crossings were done including 18,100 shares of Central Finance (CFIN) at Rs.1210 per share, 500,000 shares of Aitken Spence Hotel Holdings (AHUN) at Rs.95 per share, 120,100 shares of John Keells (JKH) at Rs.296.50, Diesel and Motor (DIMO) 32,000 shares at Rs.1,500 per share and Tokyo Cement Non Voting (TKYO.X) 1.15 million shares at Rs.49.30 per share.

Furthermore, 3.21 million shares of Citrus Leisure Warrant 19 (REEF.W19) were crossed at Rs.19.50 along with 1.6 million of REEF warrant 17 at Rs.32 per share and 1.6 million of Reef warrant 18 at Rs.26 per share.

Highest traded volume of shares were from Amana Takaful (ATL) that amounted to 7.16 million shares, followed by 2.91 million shares of Richard Peiris (RICH) and 1.94 million SMB Leasing PLC (SEMB) shares.

However, highest trades were done by Union Bank of Colombo (UBC) with 633 trades, 657,700 shares changing hands, followed by Lankem Developments (LDEV) 584 trades with 357,400 million shares changing hands.

source - www.dailymirror.lk