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Saturday, August 27, 2011

Bourse closes virtually flat, All Share up & Milanka down

The Colombo bourse closed virtually flat yesterday with the two indices pointing in opposite directions on a turnover of Rs.1.98 billion, up from the previous day’s Rs.1.62 billion, with the All Share Price Index up 13.76 points (0.20%) while the Milanka was down 2.95 points (0.05%) with 101 gainers a shade behind 102 losers.

"Colonial Motors was the hottest stock of the day generating Rs.323.4 million in turnover with speculation of good profits on the KIA motor agency," Prashan Fernando of Acuity Stockbrokers said. "The counter gained Rs.68.10 to close at Rs.408 with over 0.8 million shares done between Rs.347 and Rs.421.

Analysts noted that Colonials had been gaining recently with yesterday’s gain particularly steep.

Singer Finance was next on the turnover league with over 7.2 million shares traded between Rs.30.20 and Rs.40.60 gaining Rs.7.20 to close at Rs.38. The counter contributed Rs.272.1 million to the day’s turnover.

Analysts noted that this stock was being chased in recent days with whatever shares available cleared from the trading boards.

Retail favourites HVA Foods, Colombo Land and East West continued to demonstrate volume with HVA closing 60 cents up at Rs.38 on 4.6 million shares done between Rs.37.80 and Rs.40.50. Both Colombo Land, down 50 cents to close at Rs.63.50 and East West, down 10 cents to close at Rs.48, dipped slightly.

Colombo Land saw over 1.6 million shares done between Rs.63.10 and Rs.63.50 while East West saw nearly 1.8 million shares traded between Rs.47 and Rs.52.80.

Blue chip losers impacting on the Milanka included Ceylon Tobacco down Rs.5.20 to Rs.390 on 2,200 shares, Sampath Bank down Rs.1.40 to Rs.206.10 on 20,300 shares and JKH down 60 cents to Rs.210 on 84,300 shares.

Industrial Asphalt announced a dividend of Rs.1.50 per share for 2010/11 following an AGM on Sept. 24, XD on Sept. 26 and payment on Oct. 2.

Asiri Surgical Hospitals and Asiri Hospitals both announced modest interim dividends of Rs.0.125 per share with the dividend from Asiri Surgical tax-free while that of Asiri Hospitals will be 0.068% tax-free. Asiri Surgical’s dividend is for 2010/11, XD on Sept. 6 and payment on Sept. 12 and Asiri Hospitals is for 2012 XD on Sept. 6 and payment on Sept. 14.

source - www.island.lk