Saturday, November 24, 2012

Distilleries hold the fort on bourse

* Activity largely restricted to single counter

* BOC debenture issue closed, Rs. 6bn raised

 The Colombo bourse yesterday closed virtually flat on a turnover of Rs.803.2 million, up from the previous day’s Rs.487.8 million, with most business generated largely on account of crossings of Distilleries.

The All Share Price Index was up a fraction of a point (0.01%) and the Milanka too was up by 0.21 points (calculated at 0%) while S&P was down 0.22 points (0.01%) with 83 gainers outpaced by 100 losers while 49 counters closed flat.

Meanwhile, State banking giant Bank of Ceylon closed its debenture issue yesterday (23) having successfully raised Rs. 6 billion. At the time of writing, the bank announced to the stock exchange that the offer had been oversubscribed, no details were given.

Over 4.4 million Distilleries was crossed in five parcels at a price of Rs.145.10 in deals worth Rs.640.7 million while over 0.1 million shares traded on the floor closing Rs.1.80 up at Rs.147.50 trading between Rs.145.10 and Rs.150 contributing Rs.17.9 million to the day’s turnover.

Two large Distilleries parcels, at the crossing price of Rs. 145.10, were done on the floor at around the same time as the block trades. However there was no word on who the buyers and sellers of the Distilleries quantities were.

``There may be a clue when the foreign trading figures are in,’’ a broker said. ``But if it’s local to local it can be between related parties who are among the major shareholders.’’

``It was a very quiet day with hardly any activity apart from the trades in Distilleries,’’ brokers said.

The top turnover generator on the trading floor was HNB X closing Rs.2.50 up at Rs.112.50 on 0.2 million shares trading between Rs.110 and Rs.112.50 contributing Rs.22.4 million to turnover.

JKH lost 60 cents to close at Rs.211.40 on 61,436 shares traded between Rs.210 and Rs.212.90 generating a turnover of Rs.16.42 million.

Volume-wise , heavily traded stocks included PC House closing 30 cents up at Rs.5.40 on 2.6 million shares, Panasian Power closing flat at Rs.2.40 on nearly 3.5 million and Blue Diamonds (non-voting) closing flat at Rs.1.60 on slightly over 1.3 million shares. NDB closed 50 cents up at Rs.134 on 39,800 shares.

source -

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