Friday, November 23, 2012

Indices move up as bourse recovers some lost ground

Most business came off block trades

The Colombo bourse yesterday recovered some ground lost earlier in the week with all three indices moving up – the All Share by 46.05 points (0.86%), the Milanka by 29.97 points (0.61%) and S&P by 16.27 (0.55%) on a turnover of Rs.487.8 million, down from the previous day’s Rs.1.56 billion, with 154 counters moving up against 58 decliners and 97 closing flat.

Brokers said that block trades in ERI, Aitken Spence and Sampath Bank accounting for nearly Rs.260 million of the day’s turnover provided the bulk of business.

``The ASPI reversed a six day downtrend to end sharply higher amid strong gains on some large caps, John Keells Stock Brokers said in a market report. ``Activity levels were subdued despite crossings on SPEN, GREG, and SAMP, which collectively accounted for over 50% of market turnover."

Foreigners remained net buyers with purchases of Rs. 288.97 million a little ahead of sales of Rs. 263.88 million giving a net inflow of Rs. 25.08 million.

ERI closed flat at Rs.16 with 9.3 million shares traded in one block while Aitken Spence saw two blocks of nearly 0.7 million shares done at Rs.122 and Sampath a block of 140,000 shares transacted at Rs.187.

The ERI deal was worth Rs.148.8 million, Spence 84.6 million and Sampath Rs.26.2 million. Apart from the crossings, much of yesterday’s business came off Seylan (non-voting) where nearly 0.9 million shares were traded, floor trades of Aitken Spence with over 0.2 million shares traded, nearly 1.3 million LIOC and over 0.1 million Sampath.

Seylan X closed Rs.1.60 up at Rs.35 on nearly 0.9 million shares done between Rs.33.40 and Rs.35 generating a turnover of Rs.30.2 million while Spence closed Rs.4.50 up at Rs.122.50 on over 0.2 million shares done between Rs.121 and Rs.122.50 contributing Rs.28.9 million to turnover.

LIOC closed 70 cents up at Rs.19.70 on nearly 1.3 million shares done between Rs.19 and Rs.19.70 contributing Rs.24.3 million while Sampath closed 70 cents up at Rs.187 on over 0.1 million shares done between Rs.185.10 and Rs.189.70 contributing Rs.22.5 million to turnover.

Banking sector shares including Sampath, Seylan X and Commercial Bank (voting) helped push up the indices, brokers said. Limited retail play on selected stocks was seen.

source -

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