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Bourse sustains gains 0.45%

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1Bourse sustains gains 0.45% Empty Bourse sustains gains 0.45% Mon Aug 20, 2012 11:12 pm

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

* Foreign activity around Asiri Central

The Colombo Stock Exchange sustained last Friday’s gains with all three indices closing in positive territory yesterday (20).

The All Share Price Index closed 0.45 percent higher, gaining 22.33 points to 4,949.46 while the Milanka Price Index of more liquid stocks closed at 4,569.85, up 0.44 percent gaining 19.83 points. The S&P SL20 closed 0.26 percent higher, up 7.23 points to 2,799.31.

Turnover reached a little over Rs. 1.7 billion, a sharp increase from a turnover of Rs. 216 million last Friday, on 95.8 million shares changing hands during the day.

Around 95 counters closed in positive territory with 83 closing in the red. Year-to-date the stock exchange has fallen 18.5 percent.

"Foreign interest in Asiri Group took YTD net foreign inflow past LKR28.1 billion,’’ Softlogic Equity Research said.

"Asiri Central was the highlight of the day with foreign investment fund Actis Investments buying 2.4mn shares at LKR250.0. The transaction was executed in 4 crossings and accounts of 10.8% of the company with Softlogic Holdings and Dai-Nishi securities (a subsidiary of Softlogic Holdings) being on the selling side. Further deals were witnessed in Asiri Hospital Holdings with an on board transaction of 81mn shares accounting for 9.1% of the company at a price of LKR7.5. The seller was disclosed to be SSP Corporate Services on behalf of Asiri Hospital Holdings - Employee Share Trust with Softlogic Holdings being on the buying side."

"More foreign interest was noted in Lion Brewery and Ceylon Beverage Holdings with the former recording 3 crossings accounting for 870k shares at LKR230.0 (9.5% premium to the previous closing price). The counter also experienced a number of on-board transactions as well allowing the counter to close at LKR229.0 with a 9.1% gain for the day. The latter registered a single crossing of 283k shares at LKR310.0. Another crossing was noted in Central Finance, a counter which has had a surge in its foreign holding during the last 52 weeks. The off-board deal accounted for 180k shares at LKR129.0. This was followed by 2 large on-board transactions as well at a similar price.

Further interest was also observed in John Keells Holdings, Keells Hotels and LOLC."
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=59680

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