Trading Tuesday - Sri Lanka stocks close down 0.24 pct

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October 09, 2012 (LBO) – Sri Lanka stocks closed down 0.24 percent Tuesday with indices seeing sharp gains earlier in the day on news that the regulator has loosened credit and broker stock sales restrictions, brokers said

Some blue-chips stocks gained ground.

The Colombo All Share Index closed at 5,833.32 down 13.85 points and the S & P SL 20 Index closed 19.39 points higher at 5,384.44 up 0.36 percent.

Turnover was 528 million rupees. Top contributors to turnover were JKH with 54 million rupees, Environment Resources Investments with 33 million rupees and E-Channeling with 33 million rupees.

E-Channeling PLC gained 0.10 cents to close at 6.40 rupees up 1.59 percent.

Aitken Spence PLC slipped 3.30 rupees to close at 130.70 rupees down 2.46 percent.

Commercial Bank slipped 0.10 cents to close at 112.10 rupees down 0.09 percent. DFCC Bank dropped 1.40 rupees to close at 116.80 rupees down 1.18 percent. Hatton National Bank closed at 113.20 rupees down 0.44 percent.

Dialog Axiata PLC gained 0.10 cents to close at 8.80 rupees up 1.15 percent.

Index heavy John Keells Holdings PLC gained 3.30 rupees to close at 213.80 rupees up 1.57 percent.
http://lbo.lk/fullstory.php?nid=256131948

sriranga

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Too soon to see real impact says analysts

Monday’s SEC announcement easing broker credit and other rules intended to boost the Colombo Stock Market had little effect yesterday with the All Share Price Index and S&P down although the Milanka was marginally up at close of trading, brokers said.

However some brokers and analysts said that it was too early to have an impact. ``You must wait a few days to judge how the changes have affected the market,’’ one broker said.

Turnover at Rs.526.1 million was up from the previous day’s Rs.434.9 million, with the All Share down 13.85 points (0.24%) while the Milanka was up 19.39 points (0.36%) and S&P down 9.74 points (0.31%) with 118 losers ahead of 93 gainers while 53 counters closed flat.

Brokers said that the market was up during early trading with the All Share gaining as much as 40 points but lost ground later in the day.

The SEC chairman had a meeting with representatives of broking firms last morning to explain the changes that had been announced through a press release the previous day. These changes were in line with recommendations made by broking firms.

JKH gained Rs.3 to close at Rs.213.50 on over 0.2 million shares done between Rs.212 and Rs.215.40 generating the day’s top turnover of Rs.54.3 million followed by E-Channelling up 10 cents to close at Rs.6.40 on slightly over 5 million shares done between Rs.6.40 and Rs.6.70 contributing Rs.33.2 million to turnover.

There were two crossings during the day with 180,000 Commercial Bank done at Rs.112.50, 80 cents below the previous close, in a deal worth Rs.20.3 million and 2 million ERI done at Rs.16.30, 30 cents above the previous close, in a transaction valued at Rs.32.6 million.

Brokers said that retail activity was evident in ERI, Laugfs Gas and E-Channelling among the most traded stocks with the NDB too attracting retail interest.

Laugfs closed 10 cents up at Rs.21.20 on nearly 1.3 million shares done between Rs.20.90 and Rs.22.20 generating the day’s third biggest turnover of Rs.28.7 million.

NDB was Rs.1.40 down to close at Rs.143 on nearly 0.2 million shares done between Rs.143 and Rs.146 while Central Finance closed flat at Rs.165 on 70,440 shares done between Rs.173.50 and Rs.176.50.

Among the other most traded stocks were Blue Diamonds closing flat at Rs.5.30 on nearly 2.3 million shares, Dialog closing 20 cents up at Rs.8.90 on nearly 1.4 million shares and ERI warrants closing flat at Rs.53.40 on 2 million warrants.

Swarnamahal closed 10 cents down at Rs.4.70 with 2 million shares and Nation Lanka Finance closed flat at Rs.12.80 on over 0.6 million shares.
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Trading Tuesday - Sri Lanka stocks close down 0.24 pct

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