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Saturday, March 24, 2012

CSE shrugs off losing streak

* Indices up sharply, turnover tops Rs. 927 mn.

The Colombo bourse yesterday shrugged off a four-day losing streak posting a turnover of Rs.927.08 million, up from the previous day’s Rs.354.1 million, with both indices gaining sharply – the All Share by 72.63 points (1.36%) and the Milanka by 67.04 points (1.40%) with 176 gainers strongly outpacing 34 losers.

JKH dominated activity with nearly a million shares traded including some crossings between Rs.191.10 and Rs.195.10 closing Rs.3.70 up at Rs.191.50 posting the day’s top turnover of Rs.183.5 million.

There was a crossing of over 1.1 million JKH at Rs.191.50 with board buying at Rs.192. The stock eventually moved higher to close at Rs.195.

``Foreign interest in JKH is evident,’’ a broker said.

Commercial Bank followed closing flat at Rs.100 on slightly over 0.6 million shares done with Ceylinco Insurance coming third on the turnover league closing 25 cents down at Rs.725 on 42,820 shares traded.

Among the other most traded stock included PC Pharma up 10 cents to Rs.21 on 0.9 million shares, Lion up Rs.5 to Rs.200 on 89,529 shares and LIOC up 30 cents to Rs.21 on nearly 0.7 million shares.

Blue Diamonds saw over 1.9 million shares done closing 50 cents up at Rs.6.20. However, there was an off the floor crossing of 8 million plus shares one at Rs.8, about Rs.2 above the market at the time of the transaction.

source - www.island.lk