Thursday, September 22, 2011

Rs. 2 billion turnover but indices dip

The Finance sees 15% of company changing hands
The Colombo bourse yesterday posted a turnover of Rs.2 billion, up from the previous day’s Rs.1.8 billion, but both indices were down – the All Share by 35.69 points (0.52%) and the Milanka by 30.89 points (0.50%) with 57 gainers trailing 133 losers.

"The downward trend continued although turnover reached Rs.2 billion," Prashan Fernando of Acuity Stockbrokers said. "The biggest business volume for the day came from The Finance Company where 15% of the company changed hands."

There was no word on buyers and sellers although brokers and analysts said that only few shareholders had the large quantities traded yesterday with some transactions done on crossings at a price of R.48 per share.

The Finance traded yesterday on the trading floor between Rs.38.90 and Rs.47 and gained Rs.6.50 to close at Rs.46.50.

Other stock that showed heavy volumes included Laugfs Gas, Regnis, Sampath and Nawaloka Hospitals.

Laugfs closed flat at Rs.43 on over 2.5 million shares traded between Rs.42 and Rs.43.20.

Sampath Bank saw over 0.3 million shares done between Rs.220 and Rs.225 closing Rs.2.60 down at Rs.224.20.

Regnis was up Rs.17.10 yesterday on nearly 0.4 million shares done between Rs.215.40 and Rs.237.50 closing at Rs.232.50.

Softlogic Capital which opened trading yesterday with a reference price of Rs.40 saw nearly 1.2 million shares traded gaining Rs.6.50 to close at Rs.46.50 trading between Rs.46 and Rs.75.

Nawaloka saw over 33.7 million shares done between Rs.4 and Rs.4.70 closing 40 cents up at Rs.4.50.

NDB Bank announced that it was in discussion with DBS Bank of Singapore with a view to creating an alliance to strengthen its investment banking activities with a MOU due to be signed yesterday.

The People’s Merchant Bank announced a four for five rights issue on 30 million shares to be issued at a price of Rs.15. An EGM will be held on October 10 to get shareholder approval for provisional allotment with the share trading XR on October 12. Provisional letters of allotment will be sent on October 18.

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