Friday, January 4, 2013

HNB & JKH crossings keep bourse buoyant

Retailers active in cheaper shares

The Colombo bourse yesterday sustained its upward momentum on a turnover of Rs.518.6 million, down from the previous day’s Rs.1.68 billion, with both indices moving up – the All Share by 46.66 points (0.82%) and S&P SL20 by 13.37 points (0.43%) with 156 gainers way ahead of 55 losers while 100 counters closed flat.

Brokers said that the bulk of the day’s turnover came off block trades in HNB and JKH with HNB seeing three crossings at a price of Rs.146 generating a turnover of Rs.94.6 million while JKH saw two parcels totaling 200,000 shares done at Rs.220 contributing Rs.44 million to the day’s turnover.

"The ASPI ended sharply higher on the back of strong gains in several large cap counters. Activity levels were dominated by trades on JKH and HNB, which collectively accounted for over 40% of market turnover, inclusive of crossings," John Keells Stock Brokers said.

Foreigners were on the sell side with sales of Rs. 157.14 million against purchases of Rs. 51.71 million leading to an outflow of Rs. 105.43 million.

Apart from the crossings, JKH saw over 0.2 million shares done on the floor closing flat at Rs.219.90 generating a turnover of Rs.51 million and HNB saw nearly 0.3 million shares done on the floor closing Rs.1.20 down at Rs.147 contributing Rs.37.7 million to turnover.

JKH traded on the floor between Rs.219 and Rs.220 while HNB floor trades were done between Rs.147 and Rs.150 closing Rs.1.20 down at Rs.147.

Apart from major blue chip trades, Nation Lanka Finance (2 million shares), People’s Leasing (1 million shares), Central Investment & Finance (1.7 million shares) and Asia Asset Finance (2.5 million shares) saw high volumes.

Nation Lanka closed 10 cents down at Rs.11 generating the day’s third highest turnover of Rs.22.3 million while People’s Leasing generated 14.1 million closing Re.1 up at Rs.14.20, Central Investment & Finance closed 10 cents down at Rs.4.90 contributing Rs.8.6 million to turnover and Asia Asset Finance closed 10 cents up at Rs.3.10 contributing Rs.7.6 million to the day’s business volumes.

More pricey stocks that showed some volume included Dockyard up Rs.4.90 to close at Rs.225 on 48,573 shares, Bukit Darah closing flat at Rs.690 on 15,038 shares and CTC closing Rs.17.30 up at Rs.849.50 on 8,709 shares.

Brokers said that that some retail activity was seen in low value counters while the higher priced shares attracted high net worth, institutional and foreign interest.

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