Trading Thursday - Sri Lanka stocks closed up 0.70 pct

October 18, 2012 (LBO) – Sri Lanka stocks closed up 0.70 percent Thursday with several blue chips making marginal gains.

The Colombo All Share Index closed at 5,625.32 up 38.92 points and the S & P SL 20 Index closed 11.67 points higher at 3,029.00 up 0.39 percent.

Turnover was 621 million rupees. JKH led the day's turnover with 185 million rupees, Hunas Falls with 58 million rupees and Chevron with 31 million rupees. Most active counters for the day were Nation Lanka Finance, Lanka Hospitals and HVA Foods.

Aitken Spence PLC gained 2.90 rupees to close at 128.70 rupees up 2.31 percent.

Commercial Bank gained 1.20 rupees to close at 106.00 rupees up 1.15 percent. DFCC Bank closed flat at 110.00 rupees. Hatton National Bank PLC closed flat at 153.90 rupees.

Dialog Axiata PLC slipped 0.10 cents to close at 8.40 rupees down 1.18 percent

Index heavy John Keells Holdings PLC slipped 1.00 rupees to close at 203.90 rupees down 0.49 percent.
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* All indices and turnover up

The Colombo bourse yesterday shrugged off this week’s losing streak with turnover up to Rs.621.1 million from the previous day’s Rs.371.1 million, and all three indices up – the All Share by 38.92 points (0.70%), the Milanka by 74.39 points (1.47%) and S&P by 14.72 points (0.29%) with 174 gainers leaving 60 losers trailing while 24 counters closed flat.

Brokers said that the market had looked up with retail sentiment more positive and block trades in Hunas Falls Hotels and JKH contributing a good slice of the day’s turnover.

"The indices rebounded sharply on the back of renewed buying interest which resulted in strong gains on several large caps. Activity levels were boosted by crossings on JKH and HUNA, but remained subdued vs. average daily turnover levels during the previous month," John Keells Stockbrokers said.

Foreign purchases amounted to Rs 325.20 million, resulting in a net inflow amounting to Rs. 210.74 million.

Mercantile Investments sold off a long-held stake in Hunas Falls, the country’s most popular honeymoon hotel, to Amaya Leisure associated with the Hayleys group at a price of Rs.65 a share. The deal, where nearly 0.9 million shares changed hands, was worth Rs.58.4 million.

There were also crossings of 0.9 million JKH at Rs.205 per share with the two transactions on this account worth Rs.184.6 million.

On the trading floor, Chevron Lubricants led the turnover league with nearly 0.2 million shares done between Rs.191 and Rs.196 generating Rs.31.9 million business and closing Rs.3.90 up at Rs.195.

Distilleries saw over 0.2 million shares done, closing Rs.1.50 down at Rs.140 trading between Rs.139.10 and Rs.144 and contributing Rs.30.6 million to the day’s turnover.

Brokers said that many blue chips saw price appreciation with Dockyard up Rs.3 to close at Rs.223, Commercial Bank (voting) up Rs.1.20 to close at Rs.106, Nestle up Rs.19.70 to close at Rs.1,210, NDB up Rs.4.30 to close at Rs.136 and Ceylon Tobacco up Rs.1.90 to close at Rs.700 among the most traded stocks.

Dockyard with over 0.1 million shares traded between Rs.220 and Rs.223 contributed Rs.29 million to turnover, Commercial Bank with 0.2 million shares done between Rs.105 and Rs.106.50 generated Rs.21.6 million and Nestle with 14,334 shares transacted, the bulk of which was done at Rs.1,199.90 although the stock closed at Rs. Rs.1,210, contributed Rs.17.2 million to turnover.

Lanka Hospitals (Apollo) saw over 0.3 million shares done closing Rs.2.50 up at Rs.46.40 trading between Rs.42.80 and Rs.46.40 while NDB saw 75,338 shares done between Rs.131.60 and Rs.136 generating a turnover of Rs.10.1 million.

Shaw Wallace & Hedges announced the resignation of CEO/Director M.N. Gunasekera with effect from October 16 and Ceylon & Foreign Trades announced a first and final dividend of five cents per share for 2011/12 with dates to be notified.
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