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Thursday, May 26, 2011

CSE hits Rs. 4 bn. turnover after a long time

The Colombo bourse cleared the Rs.4 billion turnover barrier yesterday after a long time with both indices also moving up – the All Share by 14.71 points (0.20%) and the Milanka by 20.85 points (0.30%) with 103 losers ahead of 95 gainers, brokers said.

"We saw a turnover of Rs.4 billion after a long time," Prashan Fernando of Acuity Stockbrokers said. ``There was a lot of retail activity which helped business volumes.’’

Non-retail activity was largely focused on JKH which cleared the Rs.300 barrier gaining 40 cents to close at Rs.300.80 on nearly 1.8 million shares done between Rs.298.50 and Rs.301 posting the day’s second highest turnover of Rs.526.5 million.

A parcel of 0.4 million JKH was crossed at 301 while two other smaller parecels (129,000 and 366,900 shares) were crossed at Rs.298.

The top turnover generator was Colombo Land which gained Rs.3.40 to close at Rs.38.30 on nearly 14 million shares done between Rs.36.60 and Rs.38.30. The 10% price band prevented this stock from moving higher, brokers said.

There was speculative trading on Touchwood which gained Rs.7 to close at Rs.30.90 on nearly 13.6 million shares done between Rs.23.90 and Rs.32.40.

"There was heavy retail activity in stocks like Colombo Land, Touchwood, Dunamis, Janashakthi and a few other counters," Fernando of Acuity said. ``Shares of several companies of the Janashakthi Group like Dunamis, First Capital and the parent itself were active.’’

Other than JKH there were several crossings during yesterday’s trading including over 4 million Colombo Land crossed at Rs.38.30, nearly 0.6 million Royal Ceramics crossed at Rs.155, nearly 0.4 million Asian Cotton crossed at Rs.125.

Brokers said that the run on Central Finance continued with the share closing Rs.97.10 up at Rs.1,650 with nearly 0.2 million shares traded between Rs.1,780 and Rs.1,895.

Nation Lanka Finance continued to show volume with nearly 4.7 million shares traded gaining 20 cents to close at Rs.24.20 while Royal Ceramics and Seylan Merchant Bank (both the share and warrants) also showed volume and price gain – nearly 25.3 million shares being traded closing 10 cents up at Rs.2.30 and over 30.7 million warrants, up 20 cents to close at Rs.1.20.

Odel announced a final dividend of 25 cents per share for 2010/11 XD from June 3 and payment on June 14.

source - www.island.lk