Saturday, January 19, 2013

Bourse holds its ground

‘There’s still buying interest in the market,’ say brokers

The Colombo bourse yesterday held its ground posting a turnover of Rs.789.7 million, down from the previous day’s Rs.2.05 billion, with the indices closing in opposite directions – albeit marginally – with 105 gainers and 113 losers running neck to neck while 94 counters closed flat.

"The market closed positive with most shares holding their ground," brokers said.

Block trades of 240,000 Hayleys at Rs.300 and 1.73 million Commercial Banks at Rs.105 contributing nearly Rs.153 million to turnover with Hayleys contributing Rs.72 million and Commercial Bank Rs.180.9 million.

Commercial Bank was the most traded stock on the floor closing flat at Rs.105 on nearly 0.5 million shares done between Rs.104.90 and Rs.105.10 generating Rs.92.3 million turnover. Distilleries followed although the counter closed Rs.2.90 down at Rs.187 on over 0.3 million shares done between Rs.185 and Rs.190. Brokers pointed out that Rs.190 was a 52-week high for the counter.

LOLC gained Rs.5 to close at Rs.66 on 0.5 million shares done between Rs.61 and Rs.67.90 contributing Rs.33.5 million to turnover while Laughs Gas gained 80 cents to close at Rs.29.20 on nearly 0.7 million shares done between Rs.28.50 and Rs.29.40 generating Rs.19.3 million turnover.

JKH closed flat at Rs.225 on 78,168 shares done between Rs.254.10 and Rs.226, LIOC closed 10 cents down at Rs.21.60 on slightly over 0.7 million shares while Aitken Spence closed 50 cents up at Rs.122.50 on over 0.1 million shares.

LMF was up Rs.5.10 to close at Rs.125 on 76,804 shares with the counter gaining recently along with the upward movement of Distilleries in which LMF owns 12%.

Brokers said that some retail activity was seen with investors holding a portfolio worth around Rs.10 million seeing its value moving up to about Rs.13 million taking profit and reinvesting in other stocks.

``They are looking at good second tier stock with potential,’’ a broker said.
source -

No comments: