Tuesday, August 30, 2011

Bourse down as HVA Foods dominates the day

The Colombo Stock Exchange closed in the red on a day driven by retail investors with HVA Foods PLC dominating activity at the bourse on Monday, brokers said.

The All Share Price Index closed 0.23 percent lower, down 15.61 points to 6,837.35 while the Milanka Price Index of more liquid stocks closed 0.01 percent higher, gaining 0.86 points to settle at 6,222.94. Turnover amounted to Rs. 2.59 billion on a little over 83.5 million shares changing hands during the day which ended with 74 counters closing on a positive note against 117 counters which closed in the red.

"The market kicked off on an optimistic note but the momentum did not sustain. Retail investors were more dominant during the day," Bartleet Mallory Stockbrokers said.

HVA Foods PLC attracted investor interest contributing Rs. 1.09 billion to the day’s turnover with a little more than 25.22 million shares changing hands. Turnover-wise DFCC bank was second with a contribution of Rs. 168.9 million, closing at Rs. 132.0, while Tess Agro PLC was the second highest traded share with 9.8 million shares changing hands, closing at Rs. 3.40.

HVA Foods featured in a crossing of 6,642,866 shares at Rs. 45 each. The counter was the highest gainer of the day, up 16.36 percent from the previous close to end Monday at Rs. 46.0.

The Beverages, Food and Tobacco sector made the highest contribution to turnover at 43.57 percent gaining 0.09 percent on the summary index. Banks, Finance and Insurance contributed 17.29 percent to turnover and gained 0.94 percent.

DFCC Bank featured in a crossing of 1,243,800 shares at Rs. 135. Colonial Motors saw a crossing of 50,000 shares at Rs. 407 each, John Keells Holdings 103,500 shares at Rs. 212 and Bukit Darah PLC 77,500 shares at Rs. 1,075.0.

John Keells Holdings generated a turnover of Rs. 109.8 million.

NDB Stockbrokers said there was profit taking in Colonial Motors’ shares, which contributed Rs. 166.04 million to turnover before closing at Rs. 406.50.

source - www.island.lk

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