Friday, September 23, 2011

Downslide continues on Colombo bourse

Single deal on 52 mn. LOFC
The downslide on the Colombo bourse continued another day with turnover and both indices down. The All Share Price Index lost 30.50 points (0.45%) and the Milanka 30.73 points (0.50%) with turnover down marginally to Rs.1.9 billion from the previous day’s Rs.2 billon and 117 decliners ahead of 75 advancers.

"It was a dull day’s trading with the market slipping," Prashan Fernando of Acuity Stockbrokers said. "The day’s biggest business generator was Lanka Orix Finance (LOFC) where nearly 52.1 million shares were traded including one big parcel of 52 million shares crossed at Rs.12 a minute before trading closed.

LOFC closed 10 cents down at Rs.11 on a trading range of Rs.10.80 to Rs.11.10 generating the day’s top turnover of Rs.625 million.

There was active play on Regnis, a Singer subsidiary which has been gaining sharply in recent trading. The counter was up Rs.45.50 yesterday to close at Rs.275 on over 0.8 million shares done between Rs.235 and Rs.290.

Radiant Gems saw unusual trading gaining Rs.18.90 to close at Rs.185 on over 0.3 million shares done between Rs.162 and Rs.193 while Colonial Motors also continued its upward momentum gaining Rs.10.60 to close at Rs.493 on 0.1 million shares done between Rs.482 and Rs.499.

The Finance lost Rs.1.80 to close at Rs.43 on nearly 1.1 million shares, Vallibel One was down 10 cents to close at Rs.27.90 on nearly 1.4 million shares and Odel was down 40 cents to close at Rs.35.20 on nearly 1.1 million shares.

Asian Alliance Insurance, where a mandatory offer closed earlier in the week, was down Rs.8.70 to close at Rs.199.50 on nearly 0.2 million shares done between Rs.190 and Rs.202.

There were two crossings yesterday – 52 million LOFC crossed at Rs.12 and a million Odel crossed at Rs.35.

Touchwood announced a first and final dividend of Rs.0.10 per share following shareholder approval at an AGM on Sept. 30, XD on Oct. 3 and payment on Oct. 12.

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