Apr 19, 2013 (LBT) - Indices traded on a range: The Colombo bourse endured a volatile trading day followed by the extended price rally. ASPI ranged on a 36 points band on the resistance near 5,900 points. At the end of the day ASPI lost marginally by 10 points to settle at 5.882.25. Interestingly, retail counters dominated the day’s gain during trading. Losses recorded by DFCC Bank (-3.3%), Distilleries Company (-2.0%) and The Bukit Darah (-1.3%) pulled down the indexes to the negative territory.
Commercial spearheading the crossings board: Commercial Bank the largest private listed bank spearheaded the turnover contributing to 50.0% of the daily turnover. The counter registered four large off-board blocks totaling 4.5mn shares which were transacted at a price of LKR113.0. However on-board activity of the counter was meager except for the two 20k transactions which were dealt at LKR113.0. The counter closed at LKR113.0 (-0.4%). Ceylon Tobacco Company and Nations Trust Bank too exhibited some off-board interest where the former recorded a single crossing of 30k shares at a price of LKR800 and the latter crossed a single 400k shares at a price of LKR60.0. Heavy retail activity on Colombo Land & Development Company: Renewed investor interest was seen in retail favorites; Colombo Land & Development Company with heavy on-board activity. The counter witnessed several large on-board transactions, largest being 49k shares which was dealt at LKR41.0 The counter also denoted an encouraging intra-day rally where the counter reached a high of LKR41.50 before closing with a gain of 6.6% at LKR40.6. Nations trust Bank too signified strong on-board interest with a single large block of 349k shares was seen to be transacted at a price of LKR60.5.
Retail activity heavy on speculative counters: Investor interest was heavy on speculative counters with intra-day rallies on several retail favorites; Onally Holdings (+2.5%), Kelsey Developments (+6.1%) and Bimputh Finance (+8.9%).