Stocks edge up

Redbulls · 1 Stocks edge up Wed Aug 29, 2012 9:26 pm

Redbulls

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By The Nation

The market held on onto positive ground after volatile trading during the early hours. Retail participation continued to dominate trading with retail active counters taking centre stage throughout trading. Premier blue-chip company John Keells Holdings saw its shares close slightly lower on thin volumes.

ASI gained 11.50 points (0.23%) to close at 5114.15, MPI gained 2.51 points (0.05%) to close at and the S&P index gained 9.39 points (0.33%) to close at 2866.13. Turnover was Rs. 444.1MN.

Top contributors to turnover were Environmental Resource Investments with Rs. 32.9Mn, Colombo Land & Development with Rs. 32.3Mn and Citrus Kalpitiya with Rs. 18.4Mn. Most active counters for the day were Colombo Land & Development, Citrus Kalpitiya and Environmental Resource Investments.

Noteworthy gainers for the day were Multi Finance up by 13.1% to close at Rs. 32.80, Lanka Ventures up by 9.7% to close at Rs. 34.00 and Citrus Kalpitiya up by 8.2% to close at Rs. 6.60. Meanwhile notable losers for the day were Citrus warrant 19 down by 6.9% to close at Rs. 6.80, Ceylon Foreign Trades down by 4.4% to close at Rs. 6.60 and Lankem Developments down by 4.1% to close at Rs. 7.00.

Cash map for today was 46.90% which actually indicates that selling pressure prevailed over buying interest. Foreign participation for today was 9.4% of total market turnover and foreigners were net buyers of Rs. 5.7Mn.
http://www.nation.lk/edition/biz-news/item/9826-stocks-edge-up.html

sriranga · 2 Bourse sustains uptrend Wed Aug 29, 2012 11:46 pm

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The Colombo bourse yesterday sustained its upward trend for the third consecutive day this week on a turnover of Rs.444.1 million, down from the previous day’s Rs.3.07 billion with all three indices up modestly – the All Share by 11.50 points (0.23%), the Milanka by 2.51 points (0.05%) and S&P by 9.38 points (0.33%) with 97 gainers outpacing 64 losers while 75 counters closed flat.

Brokers said that retail activity was evident with ERI, Colombo Land, Citrus Kalpitiya, Citrus Leisure and Vallibel One among the main contributors to turnover.

There were no block trades yesterday and much of the trading was on second tier counters with ERI topping the turnover league. Over 2 million ERI were done between Rs.15.70 and Rs.16.50 with the counter closing 50 cents up at Rs.16 contributing Rs.32.9 million to turnover.

Colombo Land followed with over 0.8 million shares done between Rs.37.50 and Rs.39 closing 30 cents up at Rs.37.90 generating Rs.32.3 million turnover while Citrus Kalpitiya closed 50 cents up at Rs.6.60 on nearly 2.9 million shares done between Rs.6.20 and Rs.6.70 contributing Rs.18.4 million to turnover.

Citrus Leisure closed 30 cents down at Rs.30.50 on over 0.5 million shares done between Rs.30.10 and Rs. Rs.30.50 generating a turnover of Rs.16.6 million while Vallibel One closed 10 cents down at Rs.15.40 on nearly 1.1 million shares done between Rs.15 and Rs.15.80.

Brokers said that there appeared to be market support at the 5,100 point level of the ASPI and expressed the view that the lack of sharp spikes favoured stability.

The Distilleries Company announced a final dividend of Rs.3 per share for 2011/12 following shareholder approval at a September 28 AGM. The share will trade XD from October 1 with payment on October 9.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=60322