Thursday, February 23, 2012

Bourse surges with both indices up sharply

JKH shines closing Rs. 7.40 up on 1.3 mn. shares

The Colombo bourse performed strongly yesterday with both indices up sharply on a turnover of Rs.1.52 billion, up from the previous day’s Rs.1.1 billion with JKH doing particularly well closing Rs.7.40 up at Rs.174, brokers said.

 The All Share Price Index was up 112.46 points (2.12%) and the Milanka up 132.53 points (2.88%) with 181 gainers leaving 33 losers trailing dismally.

JKH was the big business generator with over 1.3 million shares traded between Rs.166.50 and Rs.174 generating the top turnover of Rs.230.9 million.

"The counter traded between Rs.166.50 and Rs.169 early in the day but then picked up strongly during later trading to close at Rs.174," brokers said.

Commercial Bank too did well in terms of share volume with nearly 1.6 million shares traded between Rs.100 and Rs.101 closing 10 cents up at Rs.100.90. Brokers said that there was one big trade of 1.4 million shares at Rs.100 among yesterday’s trades.

Aitken Spence where there was foreign buying and local selling closed 70 cents up at Rs.115.70 on nearly 0.5 million shares done between Rs.114.50 and Rs.115.70.

Among the second tiers that generated turnover and price gains were Blue Diamonds (non-voting) up 40 cents to close at Rs.3.30 on slightly over 20 million shares done between Rs.2.90 and Rs.3.50 and ERI up Rs.2.70 to close at Rs.22.70 on over 2.9 million shares done between Rs.19.60 and Rs.22.80.

Ascot, PC House and Commercial Bank (non-voting) were actively traded but closed lower than the previous day with Ascot down Rs.7.30 to Rs.170, PC House down 70 cents to Rs.10.50 and ComBank X down a rupee to Rs.86.

Other shares showing quantity and price gain included Blue Diamonds up Rs.1.40 to close at Rs.7.10 on nearly 5.8 million shares, Vallibel One up Rs.1.20 to close at Rs.20 on over 1.8 million shares, Royal Ceramics up Rs.5 to close at Rs.125 on nearly 0.2 million shares and Tokyo Cement up 90 cents to close at Rs.41 on 0.7 million shares.

Lion Brewery which saw heavy trading on Tuesday closed Rs.9.10 down at Rs.191 on over 0.1 million shares with three fairly large parcels traded at this price while 100 shares changed hands at Rs.400 a few minutes after the marked opened.

HNB announced a final dividend of Rs.6 per share for 2011 with Rs.3 paid by cash and Rs.3 by way of a scrip dividend of both voting and non-voting shares. This dividend for voting shares will be one new share for every 54.815 shares held and for non-voting shares one new share for every 34.963 shares held.

Asia Capital announced that its 100% subsidiary, Asia Investment 3 (Pvt) Limited had bought 100% ownership of Lanka Fortune Residencies (Pvt) Limited at a price of Rs.180 million.

Ascot Holdings announced that its directors have resolved to enter into a deal with Softlogic Capital to sell Ascot’s 25% stake in Arrenga Capital to Softlogic with no price disclosed.

Vallibel Power Eratna PLC announced that the 7.2 MW Denawaka Ganga Hydro Power Project of its subsidiary, Country Energy (Pvt) Limited, has now commenced commercial operations.

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