Apr 10, 2013 (LBT) - Turnover struggles while illiquids gain: The market was on a rather dull mode with lower activity levels, but gains in Commercial Leasing, Selinsing, Sri Lanka Telecom and Nestle pushed the index to gain 26 points. Gains in the benchmark index was observed during the first half hour and the last half hour of the trading day as the index stagnated during the period in-between trading in a tight range. In contrast the S&P SL20 was flat for most part of the day before recording a marginal gain of 5 during the final hour of trading.
Banking and Finance counters extend dominance: Commercial Bank the largest private listed bank led the turnover list with 242k shares trading during the day while the counter closed flat for the day at LKR113.0. Central Finance saw renewed interest with a single off-market block of 125k shares changing hands at LKR180.0. National Development Bank continued to gain in value amidst buying interest. The counter closed on a high note reaching intra-day high of LKR165.0 and closing at LKR164.8 (+0.6%).
Persisted interest Carsons and Distilleries: The blue-chips, Carsons Cumberbatch and Distilleries have been generating considerable interest in the past few days and have continued today. The former saw an on board block of 40k shares changing hands at LKR445.0 while the latter saw a block of 100k shares dealt at LKR162.0 as the both counters closed at LKR449.0 (-0.2%) and LKR164.0 (+1.5%). Retail activity ECL and EAST: E-Channeling and East West Properties recorded retail activity today with the former reaching a 52-week high price of LKR7.4 while both counters closed with gains of 1.4% and 3.6%.