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Thursday, December 20, 2012

Half the business off block trades

Bourse closes flat on low turnover

The Colombo bourse yesterday closed virtually flat with the All Share and S&P indices marginally up while the Milanka was down 18.44 points (0.37%) on a turnover of Rs.464.3, down from the previous day’s Rs.2.58 billion, with 100 losers ahead of 88 gainers while 124 counters closed flat.

Brokers said slightly over Rs.240 million of the day’s turnover came off block trades in Commercial Bank (voting), Bukit Darah and Cargills.

Foreign purchases reached Rs. 287.83 million with a net inflow of Rs. 105.21 million.

"The ASPI ended marginally higher for a second consecutive day amid subdued activity levels, with crossings on COMB (voting), CARG, and BUKI, accounting for over 50% of market turnover," John Keells Stockbrokers said.

ComBank saw nearly 1.7 million shares crossed in four parcels at Rs.103 and Rs.102 per share in deals worth Rs.173.6 million while Bukit Darah saw a crossing of 50,000 shares at Rs.690 generating Rs.34.5 million. Cargills, with four crossings totaling 0.2 million shares at Rs.154 per share, contributed Rs.32.3 million to turnover.

On the trading floor, the biggest contributor was PC Pharma where slightly over 3 million shares were done at a price of Rs.10, down 30 cents from the previous close contributing Rs.30 million to turnover in a deal believed to be between related parties.

Cargills saw nearly 0.2 million shares traded on the floor closing Rs.11 up at Rs.154 trading between Rs.142.50 to Rs.154 generating a turnover of Rs.23.8 million. Brokers said that most of these transactions were in large parcels.

Commercial Bank too saw 0.2 million shares done on the floor closing a rupee down at Rs.102 trading between Rs.102 and Rs.103.50 contributing Rs.20.5 million to turnover while Bukit Darah saw 26,113 shares traded on the floor in a single parcel at Rs.662, down Rs.3 from the previous close, generating a turnover of Rs.18 million.

Among the other blue chips most traded yesterday were Sampath Bank closing 10 cents up at Rs.200.10 on 78,715 shares, LMF up Rs.7.40 to close at Rs.100 on over 1 million shares, Carsons down 10 cents to close at Rs.430 on 25,303 shares and JKH down 80 cents to close at Rs.217 on 35,539 shares.

Ceylon Tobacco closed Rs.4.70 down at Rs.795.30 on 7,710 shares and NDB closed Rs.3.40 up at Rs.139 on 37,137 shares.

source - www.island.lk