Friday, October 1, 2010

JKH star performer Bull run continues on CSE

The bull run on the Colombo bourse continued yesterday with both indices gaining sharply on a turnover of Rs.5.7 billion, up from the previous day’s Rs.3.2 billion, with the All Share Price Index up 67.l31 points (0.97%) while the Milanka was up a hefty 204.92 points (2.79%).

JKH was the day’s star performer with over 5.9 million shares traded generating the day’s top turnover of Rs.1.9 billion.

"Five million JKH was crossed at Rs.327 in a single parcel," Prashan Fernando of Acuity Stockbrokers said. "The counter traded between Rs.319.90 and Rs.320.90 gaining Rs.10 to close at Rs.329.90."

There was no word on buyer and seller.

Brokers noted that the All Share Price Index at 6,997.22 was nudging the 7,000 point barrier that it breached the previous week.

Wednesday’s announcement of a one for one bonus issue by the DFCC Bank drove the counter to a high of Rs.550 yesterday with over 0.5 million shares traded. The share gained Rs.55.50 to close at Rs.494 on a trading range of Rs.485 to Rs.550 contributing Rs.276.4 million to business volume.

NDB too sustained its upward momentum gaining Rs.27.80 to close at Rs.380 with over 0.7 million shares done between Rs.355 and Rs.380.

Other banking stock that gained yesterday included Commercial Bank, up Rs.8.10 to close at Rs.284 on nearly 0.5 million shares and HNB, up Rs.16.20 to close at Rs.390 on nearly 0.3 million shares. Seylan (non-voting) edged down 10 cents to Rs.59 on nearly two million shares.

Brokers said that retail activity was focused on Odel where nearly 3.7 million shares were traded, HNB X (0.1 million shares), Richard Pieris (0.6 million shares) CIC (nearly 0.7 million shares) and Janashakthi (over 5.2 million shares).

Lion Brewery saw over 1.1 million shares done gaining 90 cents to close at Rs.185 while Browns was up sharply by Rs.29 to close at Rs.228 on 0.8 million shares.

Most of the favourite retail plays other than Seylan X saw price gains with CIC up Rs.8.40 to close at Rs.145.90.

Among the hotels, Asian Hotel Properties was up Rs.2.70 to Rs.200 on 0.3 million shares while Marawila gained 40 cents to close at Rs.17 on nearly 3.1 million shares.

source - www.island.lk

No comments: