Friday, October 7, 2011

Bourse down fourth day running on low turnover

The downturn on the Colombo bourse continued yesterday for the fourth day running on a relatively low turnover of Rs.1.2 billion, down from the previous day’s Rs.1.3 billion, with both indices losing – the All Share by 28.64 points (0.43%) and the Milanka by 27.91 points (0.47%) with 58 gainers trailing 119 losers.

"The market was in negative territory most of the day having been positive during the first half hour. But it didn’t last long," Prashan Fernando of Acuity Stockbrokers said. "Retail activity dominated trading."

E-Channelling continued to be the most heavily traded counter with 17.1 million shares traded between Rs.9.30 and Rs.10.40 closing 20 cents down at Rs.9.40 contributing the day’s top turnover of Rs.166.4 million.

Regnis which moved down on Wednesday recovered lost ground closing Rs.42.80 up at Rs.483 with nearly 0.3 million shares traded between Rs.430 and Rs.485.

Panasian Power which had seen heavy trading some time ago returned to the fore with over 12.4 million shares done between Rs.4.80 and Rs.5 gaining 20 cents to close at Rs.5.

Distilleries saw a crossing of 202,200 shares at Rs.170 with the counter closing 80 cents down at Rs.170.60 on over 0.3 million shares done between Rs.170.60 and Rs.172.There was also a crossing of 159,900 Aitken Spence at Rs. 135.

JKH closed flat at Rs.200 on over 0.2 million shares traded between Rs.200 and Rs.203. There were no crossings but several parcels of between 10,000 to 20,000 shares each were among the trades.

Brokers said that retail activity was evident in e-Channelling, Regnis, Panasian Power, CFT and Hydro Power Free Lanka with CFT closing 40 cents down at Rs.10.90 and hydrop power down 80 cents to close at Rs.15.30 on nearly 2.5 million shares done between Rs.15.10 and Rs.16.80.

Brokers said that trading in blue chips was thin with few that were traded yesterday like Commercial Bank edging down closing 90 cents down at Rs.111.50.

Among the blue chip gainers were Hayleys, up Rs.1.60 to Rs.375 but on a small volume of 5,500 shares and Haycarb, up Rs.3 to Rs.159.50 on 45,800 shares.

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