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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » More than normal activity in SEYB.N0000 and SEYB.X0000 shares

More than normal activity in SEYB.N0000 and SEYB.X0000 shares

3 posters

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hariesha


Vice President - Equity Analytics
Vice President - Equity Analytics

Further to my post on 24th OCT, under the caption "Who is collecting SEYB.X0000", as there was heavy activity during Monday and Tuesday, I have analyzed the share volumes during the month. Findings are bit interesting.

There is a significant increase in the activity levels of Seylan Bank shares during the week.

SEYB.N0000
Month to date Volume : 4,023,900
Avg. Daily Volume in the Month : 251,493
Week to date Volume : 2,177,000
Avg. Daily Volume in Week : 1,088,500
Increase in Activity : 4.32 Times than normal volume for the month

SEYB.X0000
Month to date Volume : 5,867,300
Avg. Daily Volume in the Week : 366,706
Week to date Volume : 2,287,100
Avg. Daily Volume in Week : 1,143,550
Increase in Activity : 3.11 Times than normal volume for the month

I have no idea of who is collecting SEYB.N0000, but the share was defended at Rs.69/- levels when other shares in the market were coming down on Tuesday.
LOLC has increased their holding in SEYB.X0000 from around 4 million shares as at 31st December 2010 to more than 26 million shares by 30th Sep. 2011. More than a six fold increase. It’s apparent they have taken more than their entitlement during the rights issue, but they have collected more from the market between June and September. This is evident from the way they have increased their holding up to 16.16% by end of Sep. 2011.

2010-12-31 4,980,900 4.03%
2011-03-31 5,594,700 4.53% (From the market)
2011-06-30 20,045,989 12.17% (They have taken their rights, additional shares and from the market)
2011-09-30 26,621,689 16.16% (From the market)

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smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics

Thanks Hariesha, I was wondering what made a sudden volume spike..

Have u checked their financials? The run was 1 day before the financials were out..

hariesha


Vice President - Equity Analytics
Vice President - Equity Analytics

But it continued after that also. That's why I analyzed the volumes. The share was defended first at 70s and then at 69 till the end of trading on tuesday.

OneRupee


Equity Analytic
Equity Analytic

I have a feeling that SEYB.N and X will shoot up in the coming week, due to the sudden interest shown in the share from the buying side.

The counter may be depressed untill all the force selling is dried up for the month of October, and commencing next monday second half, buying should come in for this share.

Still some force selling is going on in a couple of brokering firms, including bartleet. So we can't expect anything rosy untill month-end.

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