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WRITTEN BY THARANGA SENARATNE
Apr 04, 2013 (LBT) - Bank push bourse further up: The ASPI which was rather volatile during the 1st half hour of trade adopted an uptrend during the rest of the day gaining 25 points to close at 5753.56. Turnover shot up following the deal in Nations Trust Bank which contributed 69% of turnover. Commercial Bank, Ceylon Tobacco, DFCC and Dialog weighted heavily on the positive trend of the index. With blue chips in the front run S&P SL20 saw a similar pattern gaining 14 points.
Nations Trust Bank overshadowed turnover: Nations Trust Bank led the turnover with 2 crossings accounting for 18.9mn shares or 8.2% stake changed hands at LKR59.0 which was noted to be a foreign to foreign deal. On-board trading on the counter was also high with 1.1mn shares trading as the counter closed at LKR60.5. BFI sector continue to dominate trading: Banks continued to be the highlight of the day with 52-week high prices being recorded Union Bank (+6.2%), National Development Bank (+0.2%) and DFCC (+2.9%) while further strong buying was noted in Sampath Bank (+0.4%), Commercial Bank (+1.6%) and Pan Asia Bank (+6.1%). All counters ended in the green with strong gains during the day. Active Retail Interest: Retail investors seemed to have grown in confidence entering the banking sector on a strong note. Most smaller banks generated considerable retail interest during the day.
http://lbt.lk/stock-market/movement/4077-bullish-rally-on-banks
Apr 04, 2013 (LBT) - Bank push bourse further up: The ASPI which was rather volatile during the 1st half hour of trade adopted an uptrend during the rest of the day gaining 25 points to close at 5753.56. Turnover shot up following the deal in Nations Trust Bank which contributed 69% of turnover. Commercial Bank, Ceylon Tobacco, DFCC and Dialog weighted heavily on the positive trend of the index. With blue chips in the front run S&P SL20 saw a similar pattern gaining 14 points.
Nations Trust Bank overshadowed turnover: Nations Trust Bank led the turnover with 2 crossings accounting for 18.9mn shares or 8.2% stake changed hands at LKR59.0 which was noted to be a foreign to foreign deal. On-board trading on the counter was also high with 1.1mn shares trading as the counter closed at LKR60.5. BFI sector continue to dominate trading: Banks continued to be the highlight of the day with 52-week high prices being recorded Union Bank (+6.2%), National Development Bank (+0.2%) and DFCC (+2.9%) while further strong buying was noted in Sampath Bank (+0.4%), Commercial Bank (+1.6%) and Pan Asia Bank (+6.1%). All counters ended in the green with strong gains during the day. Active Retail Interest: Retail investors seemed to have grown in confidence entering the banking sector on a strong note. Most smaller banks generated considerable retail interest during the day.
http://lbt.lk/stock-market/movement/4077-bullish-rally-on-banks
