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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Chevron crossings boost CSE turnover

Chevron crossings boost CSE turnover

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sriranga

sriranga
Co-Admin
COLOMBO | Thu Nov 8, 2012 5:57pm IST
Nov 8 (Reuters) - Sri Lankan stocks edged to a three-week high on Thursday without making major gains as President Mahinda Rajapaksa delivered 2013 budget proposals.

Rajapaksa, who doubles as finance minister, said plans called for reducing the fiscal deficit to 5.8 percent of GDP in 2013, while attaining 7.5 percent economic growth next year.

The budget also encouraged new listing of shares and debts though tax exemptions.

For details of the budget, see highlights.
http://in.reuters.com/article/idINL3E8M83OB20121108

The Colombo Stock Exchange's main index rose 0.18 percent, or 9.97 points, to end at 5,580.84, its highest level since Oct.19.

"While there appears to be no significant surprise in the 2013 budget presented today, we expect the market to close the week largely unchanged," DNH Financial said in a note to investors.

Shares of John Keells Holdings PLC gained 0.28 percent to 213.90 rupees.

"We are positive on the capital market, but as far as the rest of the economy is concerned, we are not that confident," a stockbroker said on condition of anonymity.

Turnover was 539.2 million rupees ($4.13 million), just over half of this year's daily average of 909 million rupees. Foreigners bought a net 299.4 million rupees worth of shares, extending the net foreign inflow this year to 34.9 billion.

The rupee edged up to 130.75/85 to the dollar from Wednesday's close of 130.85/95 as banks sold dollars ahead of budget, dealers said.
($1 = 130.7000 Sri Lanka rupees)
(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Ron Popeski)

http://in.reuters.com/article/2012/11/08/markets-srilanka-idINL3E8M83VQ20121108

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

2Chevron crossings boost CSE turnover Empty Chevron crossings boost CSE turnover Fri Nov 09, 2012 12:49 am

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Indices close in opposite directions

Crossings of Chevron boosted turnover on the Colombo bourse yesterday to Rs.539.3 million, up from the previous day’s Rs.250.8 million, with the indices pointing in opposite directions – the All Share up 9.97 points (0.18%), while both the Milanka and S&P were marginally down, the Milanka by 2.86 points (0.06%) and S&P by 0.71 points (0.02%) with 116 gainers ahead of 77 losers while 118 counters closed flat.

Most of the day’s turnover came off crossings in Chevron where over 1.3 million shares changed hands with four block trades - two crossings of 100,000 shares each at Rs.200 while 1.1 million shares were crossed in two parcels at Rs.204 in deals worth a total of Rs.273.5 million.

There was a crossing of nearly 0.3 million non-voting shares of Commercial Bank too at Rs.95 contributing Rs.25.8 million to turnover. Apart from the block trades, Chevron also saw nearly 0.2 million shares traded on the floor between Rs.195 and Rs.200 closing Rs.4.80 up at Rs.199.50 contributing Rs.36.4 million to turnover.

Although there was no confirmation, brokers said that Bank of Ceylon was believed to be the seller and there was speculation on the likelihood of foreign buying.

"The Chevron trades alone accounted for over Rs.300 million of the day’s turnover. If that was discounted, the business volumes continued to remain poor," a broker commented.

Commercial Bank (voting) generated the top turnover on the floor with 0.4 million shares traded between Rs.103 and Rs.105 closing 80 cents down at Rs.103.10 contributing Rs.42.1 million to the day’s business volume.

Other most traded counters included Asiri Hospital Holdings with nearly 1.8 million shares traded, Seylan (non-voting) with over 0.4 million shares traded, Commercial Bank (non-voting) of over 0.1 million shares traded and ERI with nearly 0.8 million shares traded.

Asiri closed flat at Rs.11.40 trading between Rs.11.40 and Rs.11.50 contributing Rs.20.million to turnover; Seylan X closed 10 cents down at Rs.35 with over 0.2 million shares traded between Rs.34.90 and Rs.35.30 contributing Rs.15.1 million to turnover; and Commercial Bank X closed Rs.2 up at Rs.95 trading between Rs.93.50 and Rs.95 contributed Rs. 12.9 million turnover and ERI closed 80 cents up at Rs.16.40 trading between Rs.15.70 and Rs.16.60 generated Rs.12.60 million turnover.

Volumes were seen in Commercial Credit (nearly 0.5 million shares) closing 50 cents up at Rs.15.90, Distilleries with 49,991 shares closing 10 cents up at Rs.145.10, Central Finance closing 10 cents up at Rs.170 on 40,040 shares, JKH closing 70 cents up at Rs.214 on 22,551 shares and Carsons closing Rs.2 up at Rs.442 on 6,508 shares.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=65599

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