Tuesday, August 16, 2011

Bourse seesaws, ends flat

The Colombo Stock Exchange seesawed on Monday (15) before closing flat on a day in which trades were dominated by retail investors although institutional investors made their presence felt with interest on selected counters, brokers said.

The All Share Price Index closed 0.05 percent higher, gaining 3.47 points to end the day at 6,836.53 while the Milanka Index of more liquid stocks ended on 6,199.59, 12.88 points higher, 0.21 percent up from Friday’s close.

Turnover at the bourse amounted to a little more than Rs. 1.5 billion on over 60 million shares changing hands during the day. Seventy seven counters closed in positive territory against 119 counters that closed in the red.

"The market started on a positive note during the morning session and although experiencing a slight dip mid day, it gained momentum to end the day in the green," Bartleet Mallory Stockbrokers said.

"The market was mainly retail driven. However, institutional investor interest was also witnessed on selected counters. Foreign investors emerged as net sellers generating a net foreign outflow of Rs. 50 million," it said.

John Keells Stockbrokers said the exchange had gained 3.02 percent year-to-date while the Milanka was down 12.21 percent.

Commenting on the day’s trading activities it said trades were centred round motor, manufacturing, diversified and finance counters.

Colonial Motors PLC, closing at Rs. 347.00, contributed highest to the day’s turnover generating a turnover of Rs. 186.1 million. The stock featured in a crossing of 100 thousand shares at Rs. 290 each to be the fourth highest gainer up 16.62 percent.

PC House PLC generated a turnover of Rs. 100.2 million on more than 5.2 million shares changing hands during the day before closing at Rs. 18.90.

More than 8.9 million Blue Diamonds shares changed hands during the day before closing at Rs. 2.50.

John Keells Holdings PLC was the third highest contributor to turnover with Rs. 76.7 million. It featured in a crossing of 200 thousand shares at Rs. 201.40 before closing at Rs. 203.

Confifi Hotels Holdings PLC was the biggest gainer, up 24.73 percent to close at Rs. 32.30.

Kuruwita Textile Mills PLC was up 17.45 percent to close at Rs. 17.45.

Softlogic Finance PLC (CRL.R) lost 20 percent during the day to close at Rs. 2.00.

Royal Palms Beach Hotels PLC lost 9.34 percent to close at Rs. 9.34.

source - www.island.lk

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