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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Stock market manages to close on the up, savours Rs. 190 m net foreign inflow

Stock market manages to close on the up, savours Rs. 190 m net foreign inflow

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sriranga

sriranga
Co-Admin
Retailers remain subdued

The Colombo bourse held its ground yesterday on a turnover of Rs.727.7 million, up from the previous day’s Rs.454.1 million, with both indices marginally up - the All Share by 3.75 points (0.07%) and S&P SL20 by 0.45 points (0.01%) with 118 losers comfortably ahead of 67 gainers while 126 counters closed flat.

Foreign purchases amounted to Rs. 494.69 million, resulting in a net inflow of Rs. 190.57 million.

Brokers said that the bulk of the day’s business volumes came from block trades in JKH and Commercial Bank (voting). Apart from that there was substantial volumes of these counters traded on the floor.

JKH saw two parcels totaling 450,000 shares done at Rs.225 in business worth Rs.101.25 million while four parcels of Commercial Bank totaling nearly 2.1 million shares was done at a price of Rs.105.

The block trades accounted for Rs.318.5 million of the day’s turnover with JKH generating another Rs.81.4 million in floor trades and ComBank Rs.41.4 million on the trading floor.

Apart from these counters, Sampath Bank came second in the turnover league with slightly over 0.3 million shares done closing Rs.2.20 up at Rs.205.on a trading range of Rs.202 to Rs.205.50.

Central Finance too continued to gain closing Rs.3.40 up at Rs.180 on nearly 0.2 million shares done between Rs.176 and Rs.180 contributing Rs.30.1 million to turnover.

There was heavy trading in Dialog closing flat at Rs.8.30 on 3.2 million shares generating a turnover of Rs.26.7 million and Panasian Power closing flat at Rs.3 on 5.1 million shares traded contributing Rs.15.3 million to turnover.

Other most traded blue chips included Chevron closing Rs.3.90 up at Rs.219 on over 0.1 million shares and Distilleries closing flat at Rs.180.20 on 85,967 shares.

Brokers said that retail participation was subdued with pricey blue chips comprising most of the business transacted during the day.

"The indices ended marginally higher amid strong gains in some large cap counters. Activity levels were dominated by trades on JKH, SAMP, and COMB, which collectively accounted for almost 70% of market turnover, inclusive of crossings on JKH and COMB," John Keells Stockbrokers said.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=70459

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

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
The Colombo stock market yesterday fluctuated within a thin range to end marginally stronger over last Friday’s close, whilst it savoured Rs. 190 million worth net foreign inflow.

The benchmark All Share Price Index (ASPI) ended gaining a trivial 0.07% (3.75 points) for the day, whilst the S&PSL20 index closed flat at 3,134.32 points. Foreigners ended the day as net buyers with foreign purchases worth of Rs. 494.69 million against sales worth Rs. 304.12 million, resulting in a net inflow of Rs. 190.57 million.

Turnover was Rs. 727.63 million primarily as a result of the high value off the floor trades in Commercial Bank of Ceylon (COMB) and John Keells Holdings (JKH), according to SC Securities.

The other major turnover generators for the day were Sampath Bank (SAMP), Central Finance (CFIN), and Dialog Axiata (DIAL). The top five turnover contributors accounted for circa 77% of the day’s total market turnover.

SC Securities said COMB saw four crossings take place at a uniform price of Rs. 105 generating a turnover of Rs. 217.22 million. The four off the market block trades consisted of 2.07 million shares in total. A further 394,000 shares of COMB traded though the market, carrying the total turnover generated by the counter to Rs. 258.5 million. The share traded at a high of Rs. 105.90 and a low of Rs.104.90, before ending the day unchanged at Rs. 105.

JKH was associated with two crossings comprising of 450,000 shares. The negotiated trades took place at a uniform price of Rs. 225 each. The counter witnessed a further 364,000 shares transact through the market at a high of Rs. 224.50 each and a low of Rs. 223. JKH contributed a turnover of Rs. 182.64 million and closed trading at Rs. 224.30, up 0.58% or Rs. 1.30 over last Friday’s close.

SC Securities also said investor interest was evident in SAMP as the banking counter saw a volume of 307,000 shares change hands at a high of Rs. 205.50 and a low of Rs. 202. SAMP gained 0.84% (Rs. 1.70) over Friday’s close.

Investor interest was also seen in CFIN and DIAL. CFIN closed the day at Rs. 180, rising by 1.93% (Rs. 3.40), and DIAL closed flat at Rs. 8.30, though witnessing 3.2 million of its shares changing hands.
http://www.ft.lk/2013/01/16/stock-market-manages-to-close-on-the-up-savours-rs-190-m-net-foreign-inflow/

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