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Friday, February 8, 2013

Blue chips drive bourse with tidy gains in indices & strong volumes

The Colombo bourse yesterday posted a turnover of over Rs.1.53 billion, up from the previous day’s Rs.1.17 billion, gaining tidily – the All Share by 30.33 points (0.52%) and S&P SL20 by 26.3 points (0.82%) with 153 gainers strongly outpacing 68 loses while 90 counters closed flat.

Foreign purchases amounted to Rs. 1,048.71 million, leading to a net inflow of Rs. 160.20

Brokers said that heavy activity in blue chips helped both turnover and the indices with several block trades in JKH, HNB (voting), Sampath, Chevron and LOLC contributing over Rs.810 million to turnover. Recent losses on the indices had been caught up, they said, with some retail activity on pricey stock like JKH and Sampath..

"The indices ended sharply higher on the back of strong gains in several large and mid-cap counters. Block trades on JKH, LOLC, HNB, LLUB, and SAMP, pushed market turnover over the Rs. 1bn mark for a second consecutive day," John Keells Stockbrokers said.

HNB saw over 1.9 million shares crossed in five parcels at a price of Rs.144 in deals worth Rs.278 million with brokers speculating about foreign selling.

Sampath gained a sharp Rs.20.50 with 500,000 shares crossed in two parcels contributing Rs.119.5 million to turnover while Chevron saw 500,000 shares crossed at Rs.221, up Rs.21 from the last close, in a deal worth Rs.110.5 million. LOLC saw 1.4 million shares crossed in two parcels at a price of Rs.69 which was Rs.2.50 below the previous close.

Commercial Bank saw heavy floor trading involving nearly 1.6 million shares traded between Rs.109 and Rs.110 closing Rs.1.20 up at Rs.109.90 generating a turnover of Rs.169.8 million. Brokers said that most of these trades were in large parcels.

Aiken Spence saw floor trades of nearly 0.9 million shares closing one rupee up at Rs.125 on a trading range of Rs.124 to Rs.125 contributing Rs.105.6 million to turnover, the second highest on the floor. Sampath and JKH too saw volume on the trading floor with Sampath closing Rs.11 up at Rs.237 on over 0.3 million shares done between Rs.226 and Rs.237 generating Rs.79.6 million turnover. JKH closed 40 cents down at Rs.229 on 0.3 million shares done between Rs.229 and Rs.229.90.

Ceylon Cold Stores saw some activity with nearly 0.3 million shares traded closing Rs.4 up at Rs.142 trading between Rs.138 and Rs.142. Brokers said that this counter showed volume after some time.

Banking stocks showing volume and price gains included NDB up Rs.2.90 to close at Rs.148 on over 0.1 million shares, NTB up a rupee to close at Rs.60 on nearly 0.3 million shares and HNB up Rs.2 to close at Rs.147 on nearly 0.1 million shares.

Dipped Products announced an interim dividend of Rs.4 per share for 2012/13 XD from Feb. 15 and with payment on Feb. 26. HNB Assurance announced a final dividend of Rs.2.75 for 2012 following shareholder approval at a March 27 AGM. The stock will trade XD from March 28 with payment on April 8.

source - www.ft.lk