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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sliver of hope as indices and turnover move up

Sliver of hope as indices and turnover move up

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CSE.SAS

CSE.SAS
Global Moderator
The Colombo bourse looked up yesterday with both indices rising and turnover nudging the Rs.500 million mark raising hopes that the worst of the slump is over, a broker said.

The All Share Price was up 20.23 points (09.43%) and the Milanka up 25.09 points (0.60%) on a turnover of Rs.499.5 million, up from the previous day’s Rs.246.4 million with 123 gainers outpacing 65 losers.

"The market picked up a little with turnover nudging Rs.500 million and both indices up," a broker said. "It is too early to say whether it had bottomed out and has begun creeping upwards."

Crossings in DFCC, JKH and Aitken Spence supported business volumes with DFCC seeing block trades of 257,290 shares at Rs.106.20, JKH nearly 0.3 million shares at Rs.177.50 and Spence 278,000 shares at Rs.109 with these transactions respectively valued at Rs.27.3 million, Rs.47.2 million and Rs.30.3 million.

Apart from the block trades JKH saw 0.5 million shares traded on the floor between Rs.177.40 and Rs.180.10 closing Rs.2.10 up at Rs.179.40 generating the day’s top turnover of Rs.90.2 million.

Similarly, DFCC closed Rs.2.50 down at Rs.105.50 on over 0.2 million shares done at Rs.106.20 contributing Rs.22.6 million to turnover and Spence saw over 0.1 million shares traded on the floor between Rs.108 and Rs.109.80 gaining 80 cents to close at Rs.109.80 generating Rs.13.4 million turnover.

Vallibel One saw considerable activity closing Rs.1.40 up at Rs.14.90 on over 3.9 million shares done between Rs.13.50 and Rs.15 generating a turnover of 55.5 million.

Banking s tocks saw some activity with DFCC down Rs.2.50 to close at Rs.105.50 on slightly over two million shares and NDB up 10 cents to close at Rs.100 on nearly 0.2 million shares.

Blue chips like Hayleys, Carsons and Central Finance too demonstrated some volume with Hayleys closing Rs. 4.90 up at Rs.334.90 on 44,240 shares, Carsons closing Rs.6.90 down at Rs.461.10 on 30,185 shares and Central Finance closing 80 cents down at Rs.131 on 56,905 shares.

Central Industries announced the dates for its final dividend of Rs.3 per share for 2011/12 following shareholder approval at an AGM on July 27. The share will trade XD from July 30 with payment on August 8.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=53810

Antonym

Antonym
Vice President - Equity Analytics
Vice President - Equity Analytics
@CSE.SAS wrote:The Colombo bourse looked up yesterday with both indices rising and turnover nudging the Rs.500 million mark raising hopes that the worst of the slump is over, a broker said...

"The market picked up a little with turnover nudging Rs.500 million and both indices up," a broker said. "It is too early to say whether it had bottomed out and has begun creeping upwards."
Market bottoms are normally accompanied by extreme fear. This time, I didn't experience that feeling.
Did I miss the bottom? Bring it back! I haven't finished my buying yet... Wink

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Antonym wrote:
@CSE.SAS wrote:The Colombo bourse looked up yesterday with both indices rising and turnover nudging the Rs.500 million mark raising hopes that the worst of the slump is over, a broker said...

"The market picked up a little with turnover nudging Rs.500 million and both indices up," a broker said. "It is too early to say whether it had bottomed out and has begun creeping upwards."
Market bottoms are normally accompanied by extreme fear. This time, I didn't experience that feeling.
Did I miss the bottom? Bring it back! I haven't finished my buying yet... Wink
dont worry sana ....well i cant tell where the bottom is , but things are not that rosy all over, so i guess things will be little choppy, come mid june rally will begin and last till november bounce

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