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Thursday, February 28, 2013

Bourse recovers slightly, retailers still on sidelines

The Colombo bourse looked up yesterday, a day after a steep fall, on a turnover of Rs.623.1 million, down from the previous day’s Rs.714 million with both indices up – the All Share by a modest 4.99 points (0.09%) and S&P SL20 by a higher 8.61 points (0.27%) with 112 gainers ahead of 96 losers while 48 counters closed flat.

Foreign sales amounted to Rs. 205.6 million, resulting in a net outflow of Rs. 107.18 million.

As on the previous day block trades in HNB (900,000 shares), Dialog (4.4 million shares) and Commercial Bank (voting) (700,000 shares) contributed Rs.249 million to the day’s turnover with HNB seeing two crossings and Commercial Bank and Dialog one each.

"The ASPI ended marginally higher amid subdued activity levels, with block trades on COMB, DIAL, and HNB accounting for around 40% of market turnover," John Keells Stockbrokers said.HNB contributed Rs.133.2 million to turnover with the crossings in two parcels at a price of Rs.148 while Dialog contributed Rs.40.04 million with a single crossing at Rs.9.10 while Commercial Bank contributed Rs.76 million with a crossing at Rs.108.50.

``Activity was muted with limited retail participation,’’ a broker said. There was some retail activity in Access and even pricier banking shares, he noted.

On the trading floor Commercial Bank topped the turnover league closing Rs.1.50 up at Rs.109 on nearly 0.5 million shares done between Rs.107.50 and Rs.109.50 contributing Rs.50.1 million to turnover.

Sampath followed closing Rs.6 up at Rs.233 on nearly 0.2 million shares done between Rs.227 and Rs.233.50 generating a turnover of Rs.45.2 million. Access Engineering closed 10 cents up at Rs.20.60 on nearly 1.2 million shares done between Rs. 20.50 and Rs.21 contributing Rs.24.3 million to the day’s business volume while Kegalla closed Rs.4.40 up at Rs.112 on over 0.2 million shares done between Rs.108 and Rs.112 contributing Rs.23.3 million to turnover.

JKH was down Rs.3 to Rs.233 on 93,859 shares traded between Rs.233 and Rs.236.10 generating Rs.22.1 million turnover while HNB closed 10 cents up at Rs.148 on over 0.1 million shares done between Rs.146 and Rs.148 generating a turnover of Rs.21.2 million.

Other most traded blue chips included Chevron up Rs.2.50 to Rs.215.50 on 95,465 shares contributing Rs.20.7 million turnover and NDB closing flat at Rs.145 on 70,118 shares contributing Rs.10.2 million to turnover.

source - www.island.lk