The Colombo bourse moved up sharply yesterday on the back of steep gains in Ceylon Tobacco (CTC) and Chevron on a turnover of Rs.636.2 million, down from the previous day’s Rs.727.7 million, with the All Share Price Index gaining 62.23 points (1.08%) and S&P SL20 up 28.86 points (0.92%) with 180 gainers leaving 41 losers trailing and 28 counters closing flat.
"The ASPI reached a 64 trading day high on the back of strong buying interest across the board.
Improved activity levels were led by trades on JKH and SHL, which collectively accounted for over 35% of market turnover, inclusive of a block trade on JKH," John Keells Stockbrokers said.
Foreign purchases amounted to Rs. 265.18 million leading to a net inflow of Rs. 112.11 million.
CTC closed Rs.25.10 up at Rs.900 on 63,371 shares while Chevron gained Rs.8.10 to close at Rs.227 on 66,226 shares.
Brokers said that Chevron has been gaining in the last ten days with the counter moving up from Rs.205 to Rs.227 yesterday.
There was a single crossing of JKH with 225,000 shares crossed in one parcel at Rs.225 in a deal worth Rs.50.6 million.
Apart from the crossing, JKH saw floor trades of slightly over 0.5 million shares closing 70 cents up at Rs.225 contributing Rs.115.3 million to turnover trading between Rs.224 and Rs.225.10.
``Foreign buyers continue to look for JKH,’’ a broker said.
Yesterday’s upward momentum was assisted by some sharp price movements of illiquid stocks including Cargo Boat which gained Rs.8.90 to close at Rs.88.90 on 868 shares and Samson International up Rs.18.60 to close at Rs.99.90 on one share.
Softlogic Holdings which generated the second highest turnover on the trading floor with over 6.2 million shares done between Rs.11.80 and Rs.13.20 closing Rs.1.50 up at Rs.13 saw some fairly large parcels done on the floor.
HNB and Commercial Bank (voting) continued to show volume with HNB closing 50 cents down at Rs.146 on over 0.3 million shares while Commercial Bank closed flat at Rs.105 on over 0.2 million shares.
Dialog (2.4 million shares), People’s Leasing & Finance (nearly 0.8 million shares) and ERI (over 0.5 million shares) also showed volume. Dialog closed flat at Rs.8.30, People’s Leasing was up 60 cents to close at Rs.14.80 and ERI closed 40 cents up at Rs.15.90.
Access Engineering traded yesterday between Rs.18.70 and Rs.19.40 closing 60 cents up at Rs.19.20 on nearly 0.4 million shares.
Brokers said that there was some retail activity although retailers largely continued to remain on the sidelines.
source - www.island.lk
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