Saturday, October 8, 2011

Bourse closes week on positive note

The Colombo bourse yesterday shrugged off the negative market movements of the previous four days and closed the week on a positive note with both indices rising on improved turnover.

Both indices were up – the All Share by 20.99 points (0.31%) and the Milanka by 39.54 points (0.67%) with 106 gainers comfortably outpacing 74 losers on a turnover of Rs.2.32 billion, up from the previous day’s Rs.1.2 billion.

"The week closed on a better note with turnover too up," Prashan Fernando of Acuity Stockbroker said. "There was heavy trading in Laugfs Gas, both voting and non-voting, and some counters like Regnis went up to previous highs."

Laugfs topped the turnover league gaining Rs.7.30 to close at Rs.50 on nearly 20.7 million shares traded between Rs.41.50 and Rs.50.50 contributing Rs.986.3 million to business volumes.

Laugfs non-voting share closed Rs.3.50 up at Rs.29.80 with 4 million shares traded between Rs.26.50 and Rs.30.

Brokers said several large parcels of Laugfs were among the trades yesterday with one parcel of 2.5 million shares changing hands at Rs.49. There were several other parcels of 100,000 shares and more also transacted, they said.

JKH closed flat at Rs.200 after reaching a high of Rs.202.50 during the day with over a million shares done between Rs.199.80 and Rs.202.50 generating the second highest turnover.

Regnis closed Rs.28.70 up at Rs.505 on nearly 0.3 million shares done between Rs.475 and Rs.508 which some brokers thought was an all-time high for the counter.

There was heavy trading in Blue Diamonds, both voting and non-voting, with the voting share up 70 cents to Rs.10.20 on nearly 6.7 million shares traded while the non-voting share closed 40 cents up at Rs.5 on over 19.7 million shares transacted.

Browns closed flat at Rs.275 on 0.2 million shares done between Rs.275 and Rs.280 while Colonial Motors continued to gain closing Rs.10.70 up at Rs.499.80 on 83,100 shares traded between Rs.490 and Rs.499.90.

Brokers said that retailers were active in Panasian Power where nearly 6.9 million shares were done closing 10 cents up at Rs.5.10, e-Channelling closing 10 cents up at Rs.9.70 on nearly 3.4 million shares and Colombo Land up Rs.1.80 to close at Rs.62.60 on 0.7 million shares.

Capital Alliance Finance too closed Rs.1.30 up at Rs.40.30 on 0.6 million shares while Radiant Gems gained Rs.1.40 to close at Rs.170 on 69,000 shares.

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