Saturday, July 30, 2011

Rally continues for fourth day - Retailers keep bourse flying

The Colombo bourse yesterday closed the week with both indices continuing to fly with the All Share Price Index up 191.82 points (2.88%) and the Milanka up 131.94 points (2.17%) on a turnover of Rs.3.15 billion, up from the previous day’s Rs.1.5 billion, with 206 gainers galloping ahead of 23 losers.

"The market continued its retail run which was somewhat of a chicken run with Grain Elevators, Three Acre Farms and Bairaha moving up very sharply," Prashan Fernando of Acuity Stockbrokers said. "There was a lot of cheer among people who trade in our offices and once gloomy faces were smiling broadly."

Yesterday’s biggest business volume came off Ceylon Guardian Investments which closed Rs.48.10 up at Rs.346.50 on a trading range of Rs.305 to Rs.360 contributing Rs.318.8 million to turnover.

Brokers said that one million of these shares were crossed at a price of Rs.300 but there was no word on buyers or sellers were. Analysts made the point that very few held such quantities.

Among the poultry stock, Grain Elevators was up Rs.35.60 to close at Rs.139 on nearly 2.3 million shares traded between Rs.110.90 and Rs.146 while Three Acre Farms gained Rs.37.60 to close at Rs.138 on nearly 2 million shares done between Rs.107 and Rs.146. Bairaha was up Rs.46.70 to close at Rs.324.10 on 0.4 million done between Rs.290 and Rs.334.

Citrus Leisure (Reefcomber) also saw volume with nearly 2.6 million shares done between Rs.65 and Rs.76.40 but lost Rs.4.20 to close at Rs.75.

Guardian Capital Partners (Watapota) was up Rs.12.60 to close at Rs.203.10 on over 0.5 million shares done between Rs.201 and Rs.223.50 while JKH gained Rs.2.10 to close at Rs.194 on over 0.5 million shares done between Rs.118.50 and Rs.195.50.

Brokers said there was interest evident once again in Environment Resource Investments (Walker & Greig) up Rs.8.70 to Rs.68.90 on 1.4 million shares with Panasian Power (nearly 16.8 million shares), East West Properties (nearly 5.4 million shares), Vallibel One (nearly 2.2 million shares), Orient Garments (over 1.2 million shares), CSF (over 2.3 million shares) and PC House (over 2.7 million shares) were among counters showing volume and upward price movement.

Singer Sri Lanka announced an interim dividend of Rs.1.50 per share for 2010/11 XD from August 9 and payment on August 18 while Ceylon Tobacco announced a second interim dividend of Rs.9.70 per share also for 2010/11 XD on August 8 and payment on August 16. Ceylon Tea Services announced a second dividend of Rs.22.50 per share for 2011 with dates to be notified.

source -

No comments: