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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Stocks jumps to two-month high

Stocks jumps to two-month high

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1Stocks jumps to two-month high Empty Stocks jumps to two-month high Fri Sep 07, 2012 5:49 pm

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Sri Lankan stocks extended gains for a ninth straight session on Friday, jumping 2 percent to a five-month high helped by blue chips and foreign buying.

The Colombo Stock Exchange's main index gained 2 percent, or 107.93 points, to 5,496.85, its highest close since April 4.

"Everybody is chipping in. Everybody is participating in the run and it's mainly a sentiment-driven market," said a stockbroker asking not to be named.

The new head of the Securities and Exchange Commission, Nalaka Godahewa, is expected to come up with new ideas to revive the market, which has fallen 9.51 percent so far this year.

Turnover was 1.76 billion rupees, more than double of this year's daily average of 874.2 million rupees.

The bourse saw foreign inflows of 155.1 million rupees worth of shares, extending the net inflow so far this year to 28.66 billion rupees.

The rupee closed at 132.30/35 against the dollar, slightly firmer than Thursday's close of 132.38/40. (Reuters)
http://www.ceylontoday.lk/16-12324-news-detail-stocks-jumps-to-two-month-high.html

sriranga

sriranga
Co-Admin
* Turnover Rs. 1.8 bn., indices surge

The Colombo bourse closed the week yesterday on an ultra-strong note with turnover hitting Rs.1.76 billion, up from the previous day’s Rs.1.09 billion, and all three indices moving up sharply – the All Share by 107.93 points (2%), the Milanka by 98.04 points (1.96%) and S&P by 47.80 points (1.63%) with 220 gainers leaving 34 losers trailing far behind while 51 counters closed flat.

The market yesterday performed at its best since the current upturn with the Milanka Price Index breaching the 5,000 points resistance barrier below which it had long languished by posting 5,093.36 points and John Keells Holdings, among the most liquid and sought after blue chips, cleared the Rs.200 share price.

Foreigners were net buyers with an inflow of Rs. 155.13 mn. With purchases of Rs. 229.62 mn. and sales of Rs. 74.49 mn.

"The ASPI continued a nine day uptrend, surging sharply higher on the back of sustained buying interest to reach a 95-trading day high,’’ John Keells Stock Brokers said in a market report. ``Activity levels were dominated by trades on SAMP, JKH, and LOFC, which collectively accounted for over 30% of turnover, inclusive of crossing."

There were four block trades yesterday worth Rs.323 million with Lanka Orix Finance Company seeing 20 million shares crossed at Rs.5 in a deal worth Rs.100 million, Sampath Bank seeing a million shares crossed at Rs.195, Ceylon Tobacco seeing 50,000 shares crossed at Rs.720 and JKH seeing 260,000 shares crossed at Rs.200. Analysts noted that all these crossings were at previous closing prices.

On the trading floor, Sampath Bank headed the turnover league with nearly 0.8 million shares traded between Rs.190 and Rs.196 closing Rs.6 up at Rs.195.60 contributing Rs.147.2 million to business volumes. JKH followed with nearly 0.4 million shares done between Rs.198.80 and Rs.201 closing Rs.1.20 up at Rs.200 generating Rs.73.7 million turnover.

Blue chips and fundamentally strong counters in addition to Sampath and JKH that were among most traded stocks yesterday included Ceylinco Insurance, Tokyo (non-voting) and Aitken Spence Hotels.

Among the low priced counters, PC House and PC House Holdings, Vallibel One, Expolanka, e-Channelling as well as Piramal Glass were most traded.

PC House saw 8.1 million shares done, closing Rs.1.40 up at Rs.7.80, Tokyo X nearly 2.2 million shares done closing 50 cents up at Rs.19.50 and Vallibel One slightly over 2 million shares traded 90 cents up at Rs.7.50.

Expolanka closed 10 cents up at Rs.7.80 on 4 million shares, e-Channelling 40 cents up at Rs.5.90 on 5.2 million shares, PC House Holdings 50 cents up at Rs.11.90 on over 2.3 million shares and Piramal Glass 50 cents up at Rs.6.20 on over 4.3 million shares.

Brokers said that there were six parcels of Sampath of 50,000 shares each done yesterday.

Retailers were prominent in the market trading in PC House, Tokyo X where one parcel of 990,000 shares were traded, Vallibel One, Expo, e-Channelling, Glass and PC House Holdings where there was one trade of 1.9 million shares.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=60976

http://sharemarket-srilanka.blogspot.co.uk/

3Stocks jumps to two-month high Empty Re: Stocks jumps to two-month high Sat Sep 08, 2012 10:37 pm

margincaptain


Stock Trader
I hope this will not grow into another bubble and blast

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