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Friday, May 17, 2013

CSE performs strongly, turnover high & indices up sharply

All Share gains 66 points, S&P 33

The Colombo bourse performed strongly yesterday on a turnover of Rs.1.88 billion, up from the previous day’s Rs.1.69 billion, with both indices gaining tidily - the All Share by 65.88 points (1.06%) and S&P SL20 by 33.03 points (0.94%) with 171 gainers leaving 57 losers trailing while 83 counters closed flat.

Turnover was boosted by block trades of Piramal Glass (9.78 million shares), Commercial Bank (voting) (850,000 shares), Aitken Spence (7.15 million shares) and Dialog (5 million shares) contributing over 1.16 billion to turnover.

Crossings in Aitken Spence at Rs.132.60 per share contributed Rs.948.1 million to the business volume while block trades in Commercial Bank contributed Rs.98.2 million on 850,000 shares at Rs.115 each, Piramal Glass 67.5 million on 9.6 million shares at Rs.6.90 and Dialog Rs.47.5 million on 5 million shares at Rs.9.50.

On the trading floor JKH, which many brokers and analysts consider the barometer of the market, was the biggest turnover generator closing Rs.3.80 up at Rs.278 on nearly quarter million shares done between Rs.275 and Rs.278.50 which is a 52-week high for the stock.

"The way JKH performs is an indication on the way the market is going," a broker said. "There has been foreign interest in the stock for some time and what was recently bought is not yet available for trading."

Apart from the block trades, Aitken Spence closed Rs.1.10 up at Rs.136 on the floor on over 0.4 million shares done between Rs.132.60 and Rs.136 contributing Rs.355.3 million to turnover.

Banking stocks also did well showing both price gains and quantity with Sampath Bank closing Rs.2.50 up at Rs.226 on over 0.1 million shares, Sanasa up Rs.2.80 to close at Rs.86.10 on nearly 0.3 million shares, NDB up Rs.3.10 to Rs.178 on 0.1 million shares and Seylan (non-voting) up 70 cents to Rs.39.50 on over 0.4 million shares.

Janashakthi showed volume gaining Rs.1.60 to close at Rs.14.10 on over 3.2 million shares.

Retailers were active in Colombo Land, Overseas Realty, Seylan, Vallibel One, Access, Kelani Tyres and Glass while NTB attracted a mix of retail and high net worth interest.

Printcare announced a final dividend of 50 cents per share for 2012/13 XD from May 28 and payment on June 6. Malwatte announced a dividend (both voting and non-voting) of 0.075 cents first and final dividend for 2012 after shareholder approval at an AGM on June 18. The share will trade XD from June 19 with payment on June 27.

Dipped Products also announced a final dividend of Rs.3 per share following shareholder approval at a June 27 AGM with the share trading XD from June 28 and payment on July 8 while Hunas Falls announced a first and final dividend of Re.1 per share for 2012/13 following shareholder approval at a June 24 AGM with the share trading XD from June 25 and payment on July 2.

source - www.island.lk