Thursday, November 1, 2012

Bourse edges down at close though volumes up slightly

Block trades generate over half the day’s turnover
Although volumes on the Colombo bourse edged up yesterday and the indices were in positive territory most of the day, the market saw both the ASPI and the Milanka losing marginally at close of trading while the S&P Index gained slightly.

Turnover at Rs.477.2 million was up from the previous day’s Rs.307.8 million while the All Share Price Index lost 6.98 points (0.13%), the Milanka was down 4.05 points (0.08%) and S&P up 8.58 points (0.29%) with 96 gainers behind 108 losers while 107 counters closed flat.

"The indices ended marginally lower amid low turnover levels with activity on JKH and LLUB collectively accounting for over 57% of the day's turnover," John Keells Stockbrokers said.

Foreign purchases amounted to Rs. 170.90 million during the day, realising a net inflow of Rs. 163.98 million.

Over half the day’s turnover came off crossings in JKH and Chevron accounting for Rs.273.5 million of the value generated yesterday. JKH saw five crossings of a total of 1.1 million shares at a price of Rs.206 contributing Rs.228.5 million to turnover while Chevron saw a crossing of 225,000 shares at Rs.200 in a deal worth Rs.45 million.

The big business generators on the trading floor were LIOC closing 30 cents up at Rs.17.80 on nearly 2.76 million shares done between Rs.17.40 and Rs.17.90 contributing Rs.46.4 million to turnover, Ceylon Theatres, down Rs.3.30 to close at Rs.130.30 on over 0.1 million shares done between Rs.130.20 and Rs.133.50 generating Rs.17.3 million turnover with JKH closing Rs.1.60 down at Rs.205.20 on 41,751 shares done between Rs.205 and Rs.208 contributing Rs.8.6 million to turnover.

Brokers said that the market was at a seven-week low ahead of the November 8 Budget with most investors on the sidelines.

They said that the LIOC trades included nine large parcels at a price of Rs.17.50 and Ceylon Theatres too saw many large parcels done in quick succession at a price of Rs.130.30.

Lion Brewery continued to gain closing Rs.5 up at Rs.255 on 31,817 shares done at Rs.255. Lanka Lubricants saw 38,064 shares done on the floor between Rs.198 and Rs.201 closing 90 cents down at Rs.200.

Two banking stocks, NDB and Sampath saw modest volumes transacted and were at the bottom of the most traded list with NDB down 40 cents to Rs.133.60 on 26,304 shares and Sampath up Rs.1.90 to Rs.195.90 on 13,600 shares.

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