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Thursday, October 6, 2011

Bourse edges down amidst heavy trades on eChanneling

The Colombo bourse yesterday continued inching down on a modest turnover of Rs.1.3 billion, down from the previous day’s Rs.1.96 billion, with both indices losing ground – the All Share by 15.06 points (0.22%) and the Milanka by 16.44 points (0.27%) with 65 gainers trailing 130 losers.

"Sentiment was dull," Prashan Fernando of Acuity Stockbrokers said. "But we are not alone in this with our market still a gainer this year compared to many other bourses that are on the losing side."

Yesterday’s big business was on e-Channeling where over 32 million shares were done between Rs.9 and Rs.10.30 closing Rs.1.10 up at Rs.9.90 and contributing Rs.309.1 million to turnover.

There was unconfirmed speculation that a state entity was on the buying side with brokers and analysts saying that the counter had attracted recent investor interest.

Regnis, Radiant Gems and Asian Alliance Insurance (AAIC) which flew to dizzy heights in recent days has started coming down fairly sharply with Regnis, closing Rs.20.40 down at Rs.433.80, Radiant Gems closing Rs.14.90 down at Rs.180 and AAIC down Rs. 13.40 to Rs. 360.

Radiant Gems was number two on the turnover league with nearly 0.4 million shares traded between Rs.171 and Rs.213 before closing at Rs.180 while Regnis saw over 0.1 million shares traded between Rs.425 and Rs.455.20 before closing at Rs.433.80. AAIC trades were thin, just 11,100 shares trading between Rs.350 and Rs. 372.

Among the blue chips, JKH continued to edge down closing Rs.2.80 down at Rs.200 on 0.3 million shares traded between Rs.199 and Rs.202.80.

Capital Alliance Finance which began trading on Tuesday lost Rs.1.80 to close at Rs.38 on nearly 1.3 million shares traded between Rs.36 and Rs.40 well about the 15-rupee reference price.

LMF, Blue Diamonds, both voting and non-voting, and CFT also saw volumes and price gains.

LMF was up Rs.2.70 to close at Rs.132 on nearly 0.4 million shares, Blue Diamonds X up 20 cents to close at Rs.4.70 on nearly 7.8 million shares, CFT up Re.1 to close at Rs.11.40 on over 3.1 million shares and Blue Diamonds (voting) up 20 cents to close a Rs.9.60 on nearly 3 million shares.

HVA Foods lost Rs.2.80 to close at Rs.52 on nearly 0.6 million shares while Hydro Power Free Lanka gained Rs.1.20 to close at Rs.16.40 on nearly 3.9 million shares.

source - www.island.lk