Turnover up but indices down on limping bourse

Redbulls · 1 Turnover up but indices down on limping bourse Fri Aug 10, 2012 12:25 am

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Turnover on the Colombo bourse looked up yesterday hitting Rs.773.6 million, up from the previous day’s Rs.159.8 million, thanks to some block trades in JKH and Sampath Bank but the All Share Price Index lost 37.99 points (0.78) and S&P was down 14.16 points (0.51%) while the Milanka was up marginally by a fraction of a point (0.43 points or 0.01%) with the block trades accounting for nearly half the day’s turnover.

Brokers said that the market was down most of the day with JKH seeing several large parcels crossed at Rs.185 with over 1.4 million shares changing hands contributing Rs.263.4 million to turnover. Sampath saw one large parcel of nearly 0.6 million crossed at Rs.159 generating a turnover of Rs.88.2 million.

On the trading floor, PC House Holdings was the largest turnover generator closing Rs.2.40 down at Rs.9.80 on nearly 27.9 million done between Rs.9.10 and Rs.12.90 contributing 253.9 million to turnover.

Apart from the block trade, Sampath saw over 0.1 million shares done on the floor between Rs.156 and Rs.160.20 gaining Rs.4 to close at Rs.160 generating a turnover of Rs.21.8 million.

JKH too saw floor trades of 62,103 closing a rupee up at Rs.185 on a trading range of Rs.184.50 and Rs.187.

Aitken Spence Hotel Holdings closed 40 cent up at Rs.68.0 on nearly 0.3 million shares done between Rs.65.60 and Rs.68.30 contributing Rs.19.8 million to turnover while Pan Asia Bank closed 20 cents up at Rs.17.10 on nearly 0.7 million shares done between Rs.16.90 and Rs.17.30.

Less pricey stock showing volume included Piramal Glass closing flat at Rs.5.30 on nearly 0.8 million shares and Vallibel One closing 20 cents down at Rs.13.80 on nearly 0.3 million shares.

NDB closed Rs.2.20 up at Rs.113 on 32,936 shares.

Singer Sri Lanka announced that it has increased its shareholding in Singer Finance (Lanka) PLC by 5.4% to 80.4% by subscribing to additional shares on the recent rights issue.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=58805

sriranga

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Reuters: Stocks fell for a fifth straight session on Thursday, hit by concerns about rising interest rates and a delay in promised Government measures to boost the market, analysts said.

The Colombo Stock Exchange’s main index lost 0.78%, or 37.99 points, to end at 4,851.88, its lowest since 18 July.

“Due to high interest rates, the local investor interest was not seen. But there had been foreign interest on some select blue chip counters,” a stockbroker said on condition of anonymity.

Even though the Central Bank has kept policy rates steady for the past four months, it has allowed yields on treasury bills to increase 132-186 basis points.

This has made fixed-income instruments more attractive compared to equities.

Analysts said that the failure to implement measures promised at a meeting with Treasury Secretary P.B. Jayasundera, including more retail credit, was hurting trade in shares.

The Bourse has fallen 20.13% in 2012.

The day’s turnover was Rs. 773.6 million ($ 5.87 million), below this year’s daily average of Rs. 879.7 million.

Foreign investors were net buyers for a 14th straight session, picking up a net Rs. 85.9 million worth of shares, extending the net foreign inflow this year to Rs. 26.14 billion.

The rupee edged down at 132/20 per dollar from Wednesday’s close of 131.95/132 on importer demand for dollars, dealers said.
http://www.ft.lk/2012/08/10/bourse-sinks-to-3-week-low-asis-negative-return-back-to-20/