Friday, February 1, 2013

Mega deals drive CSE to top Rs. 3.4 bn. turnover

Foreign quantities of ComBank now over  - Brokers

Mega deals in Commercial Bank (voting) and JKH continued to drive the Colombo bourse which yesterday posted a turnover of Rs.3.43 billion, up from the previous day’s Rs.2.68 billion, with the indices closing in opposite directions – the All Share down 9.01 points (0.15%) and S&P SL20 up 3.98 points (0.12%) with 108 gainers ahead of 99 losers while 106 counters closed flat.

Foreign selling amounted to Rs. 2,546.35 million, resulting in a net outflow of Rs. 292.32 million.

"The indices ended on a mixed note, with the ASPI ending marginally lower amid improved activity levels. Turnover crossed the Rs. 3bn mark supported partially by a block trade on COMB which accounted for around 45% of turnover," John Keells Stockbrokers said.

There was a host of crossings in Commercial Bank where over 14.8 million shares were transacted in block trades at prices between Rs.103 and Rs.105 in deals worth Rs.1.5 billion.

JKH also saw nearly 1.3 million shares crossed at Rs.230 in deals worth Rs.287.8 million while there were three parcels of Central Finance totaling 0.6 million shares done at Rs.185 contributing Rs.111 million to turnover.

Floor trades in JKH of nearly 4.5 million shares were higher than the block trades with the counter closing Rs.1.50 up at Rs.229.70 and contributing over a billion rupees to turnover. The share traded between a low of Rs.229 and a high of Rs.230 closing Rs.1.50 up at Rs.229.90.

Commercial Bank too saw some floor trades gaining Rs.1.30 to close at Rs.105.90 on 0.7 million shares done between Rs.105 and Rs.106 contributing Rs.73.9 million to turnover.

Large buying was seen in DFCC where over 1.1 million shares were traded with the share closing Rs.1.40 up at Rs.125.40 trading between Rs.124 and Rs.126 contributing the day’s second largest turnover on the floor of Rs.140 million.

Brokers believed that the large quantities of Commercial Bank put up for sale by foreign shareholders have now been exhausted. There was no word on buyers of this stock although a local unit trust is believed to have picked up a quantity.

Less pricey shares that showed volume included People’s Merchant Bank which closed 50 cents down at Rs.13.50 on 2.4 million shares, PC House closing 10 cents down at Rs.53.10 on over 3.1 million shares and People’s Leasing closing Rs.1.40 down at Rs.13.50 on over 1.1 million shares.

Apart from the block trades, Central Finance also saw 80,459 shares traded on the floor closing a rupee up at Rs.180 while banking stock showing quantity included Sampath closing flat at Rs.220 on nearly 0.1 million shares, HNB (voting) down 10 cents to Rs.144.80 on 87,321 shares and Pan Asia gaining 60 cents to close at Rs.19 on nearly 0.7 million shares.

Haycarb announced an interim dividend of Rs.4 per share for 2012/13 XD from Feb. 12 and with payment on Feb. 20. Pan Asia Bank announced an interim dividend of Re.1 per share for 2012 XD from Feb. 12 and with payment on Feb. 21 and People’s Finance an interim dividend of Rs.2.25 per share for 2012/13 XD from Feb. 12 and with payment on Feb. 21.

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