Mar 22, 2013 (LBT) - Bourse ended trading on a flat note: Bourse journeyed on a volatile path today as the benchmark index fluctuated with marginal gains and losses with improved buying interest leading the turnover to a 2-week high. Commercial Leasing & Finance (+6.45), Sri Lanka Telecom (+2.1%) and Carsons Cumberbatch (+1.1%) weighted positively on the index while losses in Nestle Lanka, John Keells Holdings and Distilleries led the bourse to close broadly flat at 5,768.88 points. The S&P SL20 followed a similar pattern closing flat at 3,312.71 points.
7 crossings breathed in 68% to the turnover: Investor hunt in John Keells Holdings persisted with the counter emerging to spearhead the turnover backed by 3 off-board blocks carrying c.995k shares which were crossed off at LKR248.0. The counter traded between LKR245.0 and LKR249.0 before closing with a marginal dip of 0.6% at LKR247.5. Union Assurance and Keells Food Products witnessed renewed participation as the former recorded a deal which carried c.2.8 mn shares at LKR91.9 while the latter added c.487k shares at a 52-week (off-market) price of LKR70.1. Sampath Bank encountered a crossing of 500k shares at LKR233.0 while on-board play in the counter was relatively dormant. National Development Bank booked a slot in the top turnover with a block of 400k shares which was crossed off at a 52-week high (off-market) price of LKR163.0.
BFI sector dominated trading contributing 56% to the turnover: Notable investor participation surrounded the BFI sector extending its trend supported by its strong 88% YoY growth in earnings during the December quarter. Banks enjoyed active play led by Sampath Bank and National Development Bank while each witnessed intra-day gains of 0.4%. Hatton Nation Bank [Non-Voting] too secured interest dipping 1.1% at its close of LKR130.1 while DFCC Bank continued to trade at tis 52-week high price at of LKR131.0. Renewed play in CLC & RAL: Commercial Leasing & Finance was among the top turnover slot with an on-board block of c.10.3 mn shares which was transacted at its intra-day high of LKR5.0 (+6.4%). Renuka Agri Foods which accounted for foreign outflows recently recorded several large trades while it traded at a 52-week low of LKR4.0. Asian Hotels & Properties saw a block of 250k shares being picked on-board at LKR70.0. Improved retail participation: Retail activity encountered some improvement as PC House, Free Lanka Capital and Panasian Power saw notable participation. Renewed interest was observed in the poultry sector with Bairaha Farms and Grain Elevators gaining 5.7% and 9.3% at their intra-day high levels respectively.