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Friday, September 30, 2011

Bourse looks up with some stock at record heights

Ascot, Regnis, Asian Alliance and Radiant Gems shine

The Colombo bourse looked up yesterday on a turnover of Rs.2.8 billion, up from the previous day’s Rs.1.5 billion, with the All Share Price Index gaining 37.24 points (0.55%) although the Milanka edged down marginally by 1.13 points (0.02%) with 123 gainers strongly outpacing 77 losers.

"Some stocks like Ascot, Asian Alliance Insurance, Regnis and Radiant Gems moved up strongly on decent volumes," Prashan Fernando of Acuity Stockbrokers said. "Most of them were at all time highs with Ascot gaining Rs.58.90, Asian Alliance Rs.116.80 and Regnis Rs.23.40. Radiant Gems too was up Rs.5.40."

Ascot posted the day’s highest turnover of Rs.537.2 million with nearly 3.1 million shares traded between Rs.130 and Rs.196.30 with the counter closing at Rs.196.30.

Asian Alliance saw nearly 0.8 million shares done between Rs.224 and Rs.350.70 closing at Rs.350.70 while Regnis with over 0.2 million shares done between Rs.408 and Rs.439 closed at Rs.420.10. Radiant Gems closed at Rs.213 on over 0.6 million shares done between Rs.201.50 and Rs.241.50.

Among highly traded stocks, 100,000 Asian Alliance was crossed at Rs.250 and two parcels of JKH, one of 273,400 crossed at Rs.205 and another of 100,000 crossed at Rs.207.90.

Union Bank saw a million shares crossed at Rs.22, Vallibel One nearly 2.9 million shares crossed at Rs.27.40 and Ceylinco Insurance 137,000 shares crossed at Rs.780.

Blue Diamonds too saw heavy trading gaining Rs.1.20 to close at Rs.10.40 on over 12.6 million voting shares traded between Rs.8.90 and Rs.10.50 and nearly 21 million non-voting shares traded between Rs.4.10 and Rs.5 with the counter gaining 80 cents to close at Rs.5.

Brokers said that Singer Sri Lanka too began to move up in tandem with its subsidiaries, Regnis and Singer Industries, gaining Rs.3.60 to close at Rs.126 on nearly 0.6 million shares done between Rs.121.20 and Rs.138.30. Singer Industries was up Rs.44.90 to close at Rs.318 on over 0.2 million shares done between Rs.265 and Rs.328.90.

RPC Plantation Management announced it has increased its stake in Kegalle Plantations to 68.97% by buying 54,800 shares at a total cost of Rs.8 million.

Mr. Ray Abeywardena has been appointed to the board of Asian Alliance Insurance subject to approval by the Insurance Board of Sri Lanka. He is CEO of Acuity Partners and has a 25-year career first in the stockbroking industry and subsequently in investment banking since 2009.

He was MD of DFCC Stockbrokers (now Acuity Stockbrokers) and is currently Group MD/CEO of Acuity Partners, a joint venture investment bank owned in equal share by the DFCC Bank and HNB.

source - www.island.lk