Thursday, October 13, 2011

JKH holds price in dull trading on CSE

Nearly 2.2 million JKH changed hands on the Colombo bourse yesterday where sentiment was dull and both indices came down fairly sharply – the All Share by 64.81 points (0.97%) and the Milanka by 29.98 points (0.51%) on a turnover of Rs.1.59 billion, down from the previous trading day’s Rs.3.02 billion, with 30 gainers way behind 167 losers.

"The market lost quite a bit of ground and sentiment was dull," Prashan Fernndo of Acuity Stockbrokers said. "Other than JKH, large volumes of Softlogic Holdings, Serendib Hotels and Colombo Land were transacted."

JKH closed flat at Rs.200 with nearly 2.2 million shares done between Rs.199 and Rs.200 including six crossings totaling to nearly 1.6 million shares done at the Rs.200 price.

Softlogic Holdings saw a crossing of 15.7 million shares at Rs.20 with the counter closing 20 cents down at Rs.20.50 with a total of over 16.1 million shares, including the crossing, done between Rs.19.80 and Rs.20.70.

Serendib Hotels lost Rs.2.60 to close at Rs.30 on nearly 2.7 million shares done between Rs.30 and Rs.37.90 with brokers saying that the company’s plan to re-brand its properties had attracted investor interest.

Regnis once again went over the Rs.500 mark gaining Rs.8.20 to close at Rs.504.30 on nearly 0.2 million shares done between Rs.477.10 and Rs.504.30.

Colombo Land lost a rupee to close at Rs.60 on over a million shares done between Rs.59.50 and Rs.61.40. A parcel of 500,000 shares of this counter was crossed at Rs.60.

Brokers said that the day’s trading on Softlogic Holdings accounted for 1.9% of the company and the retail selling was focused on Regnis, Serendib Hotels and Colombo Land. Retail selling was seen on Asian Alliance Insurance which dropped sharply by Rs.88.20 to close at Rs.241 on 0.1 million shares done between Rs.240 and Rs.311.

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