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Thursday, June 6, 2013

Profit taking pushed indices down

The Colombo bourse yesterday lost ground for the third consecutive day with turnover down to Rs.818.4 million from the previous day’s Rs.1.03 billion with the All Share Price Index losing 26.82 points (0.42%) and S&P SL20 10.85 points (0.30%) with 92 gainers outpaced by 128 losers while 91 counters closed flat.

"Profit taking had something to do with the indices moving down," a broker said. "It was basically a very quiet day with a block trade in Chevron contributing Rs.225 million to turnover."

This was the biggest transaction of the day with 0.6 million Chevron crossed at Rs.375 with a further 139,651 shares traded on the floor between Rs.354.20 and Rs.375. The counter closed Rs.10.90 down at Rs.355.70 on the floor contributing Rs.50.9 million to turnover.

"The ASPI ended lower for a third consecutive day amid a drop in activity levels dominated by trades on LLUB which accounted for over 30% of market turnover. The market also saw crossings on DIAL and CTC," John Keells Stock Brokers said.

There was a net foreign inflow of Rs. 314.22 with purchases of Rs. 432.33 million and sales of Rs. 118.12 million.

JKH edged down to Rs.279.90 on nearly 0.2 million shares traded between Rs.278.50 and Rs.281.50, Rs.1.80 below the previous close.

Other block trades included Dialog where slightly over 4.7 million shares were done at Rs.9.30 contributing Rs.43.8 million to turnover and a 34,884 shares Ceylon Tobacco done at Rs.1,000 contributing Rs.34.9 million to turnover.

Brokers said that foreign buying was seen in Ceylon Tobacco and Commercial Bank with Ceylon Tobacco also seeing 18,603 shares done on the floor between Rs.981 and Rs.1,000 closing 10 cents up at Rs.999.60 generating a turnover of Rs.18.6 million.

Commercial Bank (voting) closed 60 cents down at Rs123.40 on over 0.3 million shares done between Rs.122.50 and Rs.124.50 generating a turnover of Rs.42.5 million.

Haycarb gained Rs.10.20 to close at Rs.211.70 on over 0.1 million shares done between Rs.205 and Rs.215 contributing Rs.25.8 million to turnover while Tokyo (voting) closed Rs.1.10 up at Rs.27.10 on nearly 1.3 million shares traded between Rs.26 and Rs.27.30 contributing Rs.23.3 million to turnover.

Piramal Glass closed flat at Rs.6.70 trading between Rs.6.70 and Rs.6.80 with 2.4 million shares transacted.

source - www.island.lk