Both NDB and Aviva NDB Insurance which had gained sharply on news that the insurance company was being acquired by an Asian giant dropped yesterday following the long awaited announcement of the deal.
While Aviva NDB Insurance closed Rs.43.40 down at Rs.396.10, trading between Rs.353 and Rs.445 with 36,956 shares traded, NDB was down Rs.7.30 to Rs.144.90 on slightly over 0.5 million shares trading between Rs.141 and Rs.150 contributing Rs.76 million to turnover.
The market continued its upward trend on a turnover of Rs.1.87 billion, down from the previous day’s Rs.4.26 billion, with all three indices up – the All Share marginally by 5.66 points (0.10%), the Milanka by 21.39 points (0.39%) and S&P by 2.04 points (0.06%) with 110 gainers behind 120 losers while 36 counters closed flat.
Crossings of nearly 69.6 million Asiri at Rs.11.40 valued at Rs.793.5 million, 500,000 JKH crossed at Rs.225 in a deal worth Rs.112.3 million, HNB (non-voting) where over 0.5 million shares were crossed at Rs.15 accounting for Rs.59.1 million and 200,000 Sampath crossed at Rs.214 valued at Rs.42.8 million contributed over a billion rupees to yesterday’s turnover.
"The indices ended higher for the sixth consecutive day mainly due to gains on large caps. Activity levels were led by a crossing on ASIR which accounted for over 40% of turnover," John Keells Stock Brokers said in a market report.
Foreigners were strongly on the buying side with purchases of Rs. 1.16 bn. with sales of just Rs. 53.3 mn. and an inflow of Rs. 1.1 bn.
"This market is headed where JKH is headed and the counter closed Rs.2.40 up at Rs.225.40 on over 0.4 million shares done between Rs.223 and Rs.225.50 contributing the day’s top turnover of Rs.100.9 million," a broker said.
However, he noted that the All Share Price Index was still 50 points away from the 6,000 point barrier saying "if it reaches that level strongly, then we are looking at an index of around 6,300 points."
He said that with a windfall in its books there was every possibility that NDB would do well in the long run and Aviva NDB Insurance, to be re-named AIA after its new parent, would also do well given AIA’s strong track record in the region and its stature as the fifth largest global insurer.
Although NDB closed at Rs.144.90 yesterday it averaged Rs.148.29 during the day, brokers said.
Apart from NDB there was interest in banking stock like Seylan, both voting and non-voting, Commercial Bank, Sampath and HNB yesterday.
Seylan non-voting closed Rs.1.40 up at Rs.35.50 on 1.6 million shares traded while the voting stock closed Rs.2.70 up at Rs.67.50 on 25,742 shares.
Commercial Bank was Rs.1.20 up at Rs.115.20 on nearly 0.3 million shares, Sampath up Rs.3 to close at Rs.215 on nearly 0.1 million shares.
Asiri Hospitals closed 10 cents up at Rs.11.50 on nearly 8.2 million shares done between Rs.11.40 and Rs.11.80 contributing the day’s second highest turnover of Rs.94.4 million.
Interest in Lanka Hospitals persisted with over 0.5 million shares traded and the counter closed Rs.1.50 down at Rs.50 trading between Rs.50 and Rs.52.50.
source - www.island.lk
No comments:
Post a Comment