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Thursday, June 21, 2012

Retailers keep bourse buoyant

Indices up, turnover Rs. 616.7 mn

The Colombo bourse yesterday sustained its upward momentum for the fifth day running with the Milanka up 40.92 points (0.91%) and the All Share gaining 18.77 points (0.37%) on a turnover of Rs.616.7 million, up from the previous day’s Rs.533.6 million, with gainers outpacing losers by a comfortable 149 to 76.

Brokers said that considerable retail play was evident in the market with stocks like HVA, PC House, Citrus Leisure, Nation Lanka Finance (both the share and the warrants -W0021), Tess and Citrus warrants (W0019) seeing heavy volumes.

Among the blue chips, Cargills was No.2 on the most traded list and Cheveron saw some activity.

Yesterday’s most traded stock was HVA which closed Rs.1.20 up at Rs.14 on nearly 5.8 million shares traded between Rs.13.20 and Rs.14.50 generating a turnover of Rs.8.2 million.

Cargills followed although the blue chip closed Rs.8 down at Rs.150 with slightly over 0.5 million shares done between Rs.150 and Rs.154.

PC House was up 30 cents to close at Rs.7.30 on 4 million shares done between Rs.7.20 and Rs.7.80 while Citrus Leisure closed Rs.1.10 up at Rs.34 on over 0.6 million shares done between Rs.33.50 and Rs.39.50.

Nation Lanka Finance closed a rupee up at Rs.9.30 with nearly 1.9 million shares done between Rs.8.10 and Rs.9.60 while Ramboda Falls closed Rs.3.30 down at Rs.31.60 on nearly 0.5 million shares done between Rs.29 and Rs.35.50.

The Nation Lanka warrants closed 80 cents up at Rs.3.10 on nearly 5.2 million, Tess was up 30 cents to close at Rs.2.70 on over 5.5 million shares and Chevron gained Rs.5 to close at Rs.170 on 84,269 shares.

Brokers said that with the end of the first quarter approaching on June 30 there was an element of "end of quarter push’’ to keep share prices buoyant.

Colonial Motors announced a first and final dividend of Rs.4 per share for 2011/12 following shareholder approval at a July 27 AGM. The share will trade XD from July 30 and payment will be on August 8.

Lighthouse Hotels announced that plans for its expansion adding 23 deluxe rooms and two suites at a budgeted cost of Rs. 430 million have been finalized.

The CSE announced that it has approved in principle an application from Beruwela Resorts Limited to list 600 million ordinary voting shares on the Diri Savi board by way of an introduction.

The announcement said that copies of the introductory document will be made available shortly to all member firms of the Exchange and trading members.

source - www.island.lk