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Wednesday, July 27, 2011

Up, down & up again - CSE shakes off bear market blues

After its depressing bear run, the Colombo bourse looked up yesterday with both indices gaining on a turnover of slightly under Rs.2 billion, up from the previous day’s Rs.1.12 billion, with 152 gainers comfortably outpacing 62 losers with the All Share Price Index up 59.23 points (0.92%) and the Milanka up 33.88 points (0.57%.)

The market recovered quite a bit," Prashan Fernando of Acuity Stockbrokers said. "It started positive, turned negative and recovered once again before close of trading."

Browns Investments was the biggest turnover generator for the day with 74.7 million shares done between Rs.4.50 and Rs.5.30 with the counter dipping 20 cents to close at Rs.4.80 contributing Rs.374.3 million to the day’s turnover.

Crossings yesterday included JKH where 123,200 shares were crossed at Rs.185, Softlogic Holdings (1 million shares at Rs.23.70), Central Finance (175,000 at Rs.1,450) and Dialog (2.5 million shares at Rs.8).

Central Finance was up Rs.34.60 to close at Rs.1,430.10, Softlogic down 10 cents to close at Rs.23.70, JKH down Rs.3.40 to close at Rs.185 and Dialog up 10 cents to close at Rs.8.

Retail activity was seen on Swarnamahal and Vallibel as well as some other stock with Swarnamahal gaining Rs.3.80 to close at Rs.109 on 0.7 million shares and Vallibel One gaining 10 cents to close at Rs.28.40 on over 2.5 million shares.

Dialog was up 10 cents to close at Rs.8 on nearly 8.8 million shares.

Among stock showing quantity and upward price movement were Pan Asian Power up 30 cents to Rs.4.60 on 8.7 million shares, Asian Hotel Properties up Rs.1.60 to Rs.90.60 on over 0.4 million shares, Expolanka up 30 cents to Rs.14 on 2.3 million shares, CSF up 40 cents to Rs.18.50 on nearly 1.4 million shares, Spence Hotels up Rs.1.30 to Rs.71.20 on nearly 0.4 million shares and Commercial Bank up Rs.5 to Rs.251 on 72,400 shares.

Among banking stock NTB was up Rs.3.70 to Rs.61.10 on nearly 0.3 million shares, Sampath closed flat at Rs.228 on 94,700 shares and the NDB was down Rs.2.90 to Rs.135 on over 0.1 million shares.

source - www.island.lk