Trade Summary Market - 29/08/2012

sriranga · 1 Trade Summary Market - 29/08/2012 Wed Aug 29, 2012 4:14 pm

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sriranga · 3 Top 10 Contributors to Change ASPI on 29/08/2012 Wed Aug 29, 2012 4:30 pm

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Trade Summary Market - 29/08/2012 Cont29

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Colombo shares on Wednesday saw many retail investors being active on the back of the appointment of Dr. Nalaka Godahewa as the new Securities and Exchange Commission Chairman.

Softlogic Securities said in a statement that that “amongst today's traders, there's a crowd who were stuck with a loss-making portfolio and that today’s trading has set many of them free whilst a number looks to enjoy their gains”.

It described the day as an ideal trading opportunity with the penny play taking the key lead. "The day was not for strategic investors. We also rate today’s run to be short lived and not to lose focus on the valuations and the fundamentally sturdy counters," the brokerage said.

Analysts said that the high caps were barely spotted in the top turnover list with Sampath Bank witnessing some active play whilst John Keells Holdings was seen declining 0.2% to Rs 198 at day’s close.

Environmental Resource Investments, Colombo Land & Development, Kalpitiya Beach Resorts, Citrus Leisure, Lanka Hospital Corporation, Panasian Power, HVA Foods, Free Lanka Capital Holdings, Ceylon Grain Elevators, Dankotuwa Porcelain (+5.1%), Three Acre Farms (+0.0%), Regnis Lanka (+0.31%) and Waskaduwa Beach Resorts (+2.6%) flickered on the top trading screen as each share gained 6.1% on average at their intra-day high points. Some analysts said some of these companies were among those that came under the regulatory spotlight on ‘suspicious transactions’ earlier and whether such probes would continue under the new SEC administration, was anybody’s guest.

The All Share Price Index gained 11.50 points (0.23%) to close at 5114.15, whilst the more liquid Milanka Price Index gained 2.51 points (0.05%) to close at 4,756.05 and the newly introduced S&P SL 20 Index edged up 9.39 points (0.33%) to close at 2866.13. Turnover was Rs. 444.1million. (DEC)
http://sundaytimes.lk/index.php?option=com_content&view=article&id=23680:colombo-shares-see-retail-play-stirred-by-new-sec-chief-appointment-&catid=77:news&Itemid=563