Wednesday, September 28, 2011

Bourse closes flat in dull day’s trading

The Colombo bourse closed virtually flat yesterday on a turnover of Rs.1.39 billion, down from the previous day’s Rs.1.42 billion, with both indices edging up marginally – the all Share by 1.66 points (0.02%) and the Milanka by 1.68 points (0.03%) with 106 decliners leading 88 gainers.

"The indices were up during early trading, at one stage by 30 points, but moved down by the close of trading in what was essentially a dull day," Prashan Fernando of Acuity Stockbrokers said. "Some counters like Regnis and Colombo Land that had been doing well recently moved up."

HVA Foods was the day’s top turnover generator gaining 80 cents to close at Rs.57 on 3.2 million shares traded between Rs.56 and Rs.62.80 contributing Rs.194.5 million to turnover. A couple of large parcels at Rs. 60 a share were among the trades.

Regnis followed, up Rs.22.30 to Rs.342.50 on over 0.3 million shares done between Rs.318.40 and Rs.342.90. Radiant Gems saw some volume but lost Rs.2.60 to close at Rs.204.10 on nearly 0.4 million shares done between Rs.203.10 and Rs.206.50.

Asian Alliance Insurance continued to gain, closing Rs.20.70 up at Rs.233 on nearly 0.4 million shares traded between Rs.215.10 and Rs.234.60. Colombo Land too was up Rs.3.20 to close at Rs.65 on nearly a million shares done between Rs.62.70 and Rs.66.90.

Other shares that showed volume included Tess Agro down 60 cents to close at Rs.6 on 10 million shares, Blue Diamonds, up 20 cents to close at Rs.8.90 on 6.7 million shares, Lanka Orix Finance up 30 cents to close at Rs.10.80 on 4.7 million shares and Blue Diamonds (non-voting) up 10 cents to close at Rs.4.10 on nearly 9 million shares.

Brokers said there was a considerable focus on what was described as ``punting stock’’ and no crossings had been posted.

Kandy Hotels announced a final dividend of Rs.0.16 per share for 2010/11 after shareholder approval at an AGM on Sept. 27. The share will trade XD on Sept. 28 with payment on Oct. 6
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