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Wednesday, June 20, 2012

Retail play on punting stock helps sustains upturn

Both indices up, turnover Rs. 533 mn:

The Colombo bourse yesterday continued its upward movement for the fourth day running with the All Share Price Index gaining a hefty 61.19 points (1.22%) while the Milanka was up 43.11 points (0.97%) on a turnover of Rs.533.6 million, up from the previous day’s Rs.295.4 million, with 185 gainers strongly outpacing 47 losers.

Brokers said that many speculative stocks like HVA Foods, PC House and PC Pharma as well as Ramboda Falls which opened trading a few days ago saw heavy play with retailers active.

Some high net worth traders were also active, they said.

The All Share Price Index has now cleared the sensitive 5,000 point barrier through which it plunged as the market plummeted.

Some of the blue chips like Carsons, Commercial Bank, Aitken Spence and JKH that were among the day’s most traded did not see sharp price movement, either edging up or down slightly or closing flat, brokers said.

The day’s biggest business generator was HVA with nearly 4.9 million shares traded between Rs.11.40 and Rs.13.40 closing Rs.2.10 up at Rs.12.80 and generating the day’s top turnover of Rs.50.7 million.

PC House saw over 3.2 million shares traded gaining 90 cents to close at Rs.7.10 on a trading range of Rs.6.10 to Rs.7.20 contributing Rs.21.8 million to turnover while PC Pharma closed flat at Rs.15 on nearly 1.4 million shares done between Rs.14.40 and Rs.15.40 generating Rs.20.7 million business volume.

There was one block crossing of 98,600 Hayleys at Rs. 330 in a deal worth Rs. 32.5 million.

Carsons edged down 10 cents to close at Rs.466.80 on 50,021 shares done between Rs.466 and Rs.467 generating a turnover of Rs.23.4 million.

Ramboda Falls, introduced with a reference price of Rs.10 which began trading at Rs.15, gained Rs.8.80 to close at Rs.32.90 on 0.5 million shares traded between Rs.24.90 and Rs.34.10 generating a turnover of Rs.15.5 million.

Among the blue chips, Commercial Bank closed flat at Rs.101 on nearly 0.1 million shares done between Rs.100.80 and Rs.101.90, JKH was up 20 cents to close at Rs.190 on 74,000 shares traded between Rs.189 and Rs.191.90 and Aitken Spence down 40 cents to close at Rs.109.90 on over 0.1 million shares traded between Rs.109 and Rs.111.50.

Keells Hotels was up 20 cents to close at Rs.12.20 on over a million shares and Kahawatte up Rs.1.90 to close at Rs.31.90 on nearly 0.4 million shares.

source - www.island.lk