Saturday, October 27, 2012

Bourse closes week on negative note

Turnover remains low, all indices down

The Colombo bourse closed the week on a negative mode with turnover low and all indices down – the All Share by 25.84 points (0.46%), the Milanka by 21.30 points (0.42%) and S&P by 12.24 points (0.41%) with 79 gainers outpaced by 117 losers while 51 counters closed flat.

The day’s turnover of Rs.314.8 million was up from the previous day’s Rs.271.9 million, but brokers were unhappy about the low business volumes currently generated.

"The market was down with Ceylon Leather Products, where there was a crossing of 1.5 million shares at Rs.93.80 and floor trades of nearly 0.3 million done between Rs.87 and Rs.93.80, generating the most business," a broker said.

Ceylon Leather closed flat at Rs.88.10 on the floor contributing Rs.23.4 million to turnover.

JKH closed Rs.1.50 up yesterday at Rs.209 with 93,301 shares done between Rs.207 and Rs.209.50 generating a turnover of Rs.19.4 million which was the second highest for the day.

HNB (non-voting) too closed 60 cents up at Rs.113.60 with slightly over 0.1 million shares done between Rs.113 and Rs.115 contributing Rs.13.6 million to turnover.

Brokers said that there was retail participation in floor trades on Ceylon Leather as well as HNB and Vallibel One which closed 10 cents down at Rs.19.20 on nearly 0.5 million shares done between Rs.18.90 and Rs.19.30 generating Rs.8.7 million turnover.

Chevron which generated top turnover on Thursday continued to attract interest closing flat at Rs.200 on 39,545 shares done between Rs.197.70 and Rs.201.

Colombo Fort Land and Buildings closed flat at Rs.36.70 on nearly 0.2 million shares, Balangoda closed flat at Rs.37.50 on nearly 0.2 million shares and Haycarb closed Rs.3 up at Rs.175 on 35,638 shares.

Other gainers among the most traded stocks included Access up 20 cents to close at Rs.20 on nearly 0.3 million shares, Seylan (non-voting) up 80 cents to close at Rs.34.60 on nearly 0.2 million shares and NDB up 10 cents to close at Rs.133.50 on 37,802 shares.

Hayleys Exports announced that a special resolution to change the name of the company to Hayleys Fibre PLC had been unanimously passed by shareholders at an EGM held yesterday.

Softlogic Holdings said in a Stock Exchange filing that Fitch Ratings had assigned a national long term A-(lka) rating with stable outlook.

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