The Colombo bourse yesterday moved up sharply after several weeks of decline with the All Share Price Index up 68.47 points (1.42%), the Milanka up 62.58 points (1.47%) and S&P up 17.23 points (0.64%) on a turnover of Rs.666.3 million, up from the previous day’s Rs.483.4 million, with 186 gainers comfortably ahead of 34 losers with 81 counters trading flat.
"The news of Friday’s meeting of the president with industry players including the SEC, the CSE and the Colombo Brokers Association would definitely have improved sentiment," brokers said.
"The indices rebounded sharply, as renewed buying interest across the board resulted in strong gains in large caps as well as speculative buying on second tier counters, John Keells Stock Brokers said.
``Improved activity levels were dominated by trades on SAMP, JKH, and DFCC, which collectively accounted for 54% of turnover."
Turnover yesterday was supported by five block trades on Sampath closing one rupee up at Rs.150 on slightly over 1.4 million shares traded at that price in deals worth Rs. 212.7 million.
DFCC too saw two block trades closing flat at Rs.104.80 on nearly 0.5 million shares in crossings worth Rs.52.4 million.
Outside the block trades, JKH was the most traded counter closing Rs.3 up at Rs.180 on over 0.3 million shares done between Rs.178 and Rs.181.50 contributing Rs.56.2 million to turnover.
Floor trades of over 0.2 million Sampath traded between Rs.149.50 and Rs.151.90 generated Rs.35.5 million turnover with the counter closing 10 cents down at Rs.150.
Retailers were active in penny stock including Free Lanka Capital Holdings closing 10 cents up at Rs.1.90 trading between Rs.1.70 and Rs.2 generating Rs.29 million turnover; HVA up Rs.2.50 to Rs.13.80 on over 2.1 million shares done between Rs.11.60 and Rs.13.90, over a million PC House Holdings up a rupee to Rs.13 on a million shares traded between Rs.12.30 and Rs.13 and a million Swarnamahal traded between Rs.6.40 and Rs.6.80 closing 10 cents up at Rs.6.60.
The indices were supported by blue chips like Carsons up Rs.2.20 to Rs.462.40 and Shaw Wallace up Rs.25.30 to Rs.205.
People’s Leasing Company (PLC) said in a Stock Exchange filing that the company will be meeting with potential international fixed-income investors "in certain overseas jurisdictions" regarding its proposed issue of notes.
While not identifying the countries that would be visited, the filing said potential investors will be provided corporate and financial information regarding the company and its subsidiaries in accordance with international disclosure requirements that may not have previously published.
PLC said that the company’s proposed issue of the notes is subject to market conditions and investor interest with no binding agreement relating to the proposed issue which may not materialize.