Turnover down despite block trade impetus

sriranga

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COLOMBO, Oct 31 (Reuters) - Sri Lankan stocks ended at a two-week high on Thursday, led by diversified shares such as conglomerate John Keells Holdings PLC, while foreign inflows also helped boost investor sentiment.

The main share index rose 0.34 percent, or 20.21 points, to 5,954.62, its highest close since Oct. 17.

John Keells Holdings PLC shares ended up 1.68 percent, while Carson Cumberbatch PLC, another diversified firm, rose 4.56 percent.

Foreign investors were net buyers of 121.5 million rupees ($927,100) worth of shares, extending the year-to-date net foreign inflows to 23.1 billion rupees.

The day's turnover was 632.6 million rupees, less than this year's daily average of 870.7 million rupees.

($1 = 131.0500 Sri Lanka rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Prateek Chatterjee)

Keywords: MARKETS SRILANKA/INDEX

(ranga.sirilal@thomsonreuters.com)(+94-11-232-5540)

(Reuters Messaging: ranga.sirilal.thomsonreuters.com@reuters.net)(twitter.com/rangab a)

http://www.xe.com/news/2013/10/31/3634541.htm?c=1&t=

Redbulls · 2 Turnover down despite block trade impetus Thu Oct 31, 2013 11:12 pm

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Bourse remains in the green, indices up

The Colombo bourse closed in the green yesterday with both indices up on a turnover of Rs.632.9 million, down from the previous day’s Rs.942.7 million, with the All Share Price Index gaining 20.21 points (0.34%) and S&P SL20 up 16.25 points (0.50%) with 106 gainers leading 76 losers while 132 counters closed flat.

The day’s business volumes were supported by several block trades in Chevron, Lion Brewery, People’s Leasing and JKH which together contributed Rs.236.4 million to the day’s turnover, brokers said.

JKH with nearly 0.4 million shares crossed in two parcels in deals worth Rs.86.8 million was the biggest contributor to the block trades followed by Chevron with two parcels of nearly 0.3 million crossed at Rs.275 in deals worth Rs.79.3 million, a single crossing of 0.1 million Lion at Rs.360 contributing Rs.36 million and a crossing of 2.5 million People’s Leasing at Rs.13.30 contributing Rs.33.4 million.

JKH, which closed "pretty strongly" in the words of a broker, was the most traded stock on the floor gaining Rs.4.10 to close at Rs.224 on over 0.4 million shares done between Rs.220 and Rs.224.40 contributing Rs.91.3 million to the day’s turnover.

Retail play was focused on Touchwood, Tokyo (voting) and ERI with all these counters posting modest price gains at close of trading – Touchwood up 10 cents to Rs.4.20 on 6.2 million shares, Tokyo up 60 cents to Rs.26.90 on over 0.9 million shares and ERI up 40 cents to Rs.15.10 on over a million shares.

Other counters that showed volume included Textured Jersey closing 10 cents up at Rs.15.80 on nearly a million shares, Commercial Bank (voting) up Rs.1.90 to close at Rs.118 on 0.1 million shares, Expo up 20 cents to close at Rs.7.20 on over 1.7 million shares and Union Bank up 10 cents to close at Rs.17.80 on over 0.7 million shares.

PC House Holdings which attracted retail play was down 10 cents to close at Rs.1.60 on over 5.7 million shares while Commercial Bank (non voting) gained 30 cents to close at Rs.90 on 91,415 shares and LIOC closed 30 cents up at Rs.27.80 on nearly 0.3 million shares.

ERI announced that it was changing its name to Lanka Century Investments PLC ``to accurately reflect its corporate identity.’’ Shareholders’ approval had been obtained at the September 27 AGM and the approval of the Registrar of Companies had also been obtained.

Commercial Bank announced its first interim dividend of Rs.1.50 per share for 2013 XD from Nov. 2 and with payment on Nov. 19.
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