Apr 22, 2013 (LBT) - Indices wandering on a resistance: The Colombo bourse was trading on mixed sentiments, near a resistance area at 5,900. The benchmark index has been clustering near this area for the last few days on indecision. ASPI lost marginally by 10 points to end at 5,872.43. Gains denoted on Colombo Land and Development (6.9%), National Development Bank (2.0%) and losses on Finlay Colombo (-10.0%), Selinsing (-7.7%) led indecision tone on the benchmark index.
Commercial spearheading the crossings board: Commercial Bank the largest private listed bank spearheaded the turnover contributing to 42.2% of the daily turnover. The counter registered five large off-board blocks totaling 3.1mn shares which were transacted at a price of LKR113.0. However on-board activity of the counter was low except for a single 98k transaction which was dealt at LKR113.0 in early trading. The counter closed flat at LKR113.0. Brown and Company too exhibited some off-board interest with a single crossing of 175k shares at a price of LKR118.0.
Heavy retail activity on Colombo Land & Development Company: Investor interest was further evident on Colombo Land and Development Company with notable on-board activity. The counter denoted several large on-board transactions, largest being 50k shares which was dealt at LKR43.4. The counter further extended its rally today with an intra-day high of LKR43.60 before closing at LKR43.40 with a gain of 7.0%. Retail activity heavy on speculative counters: Investor interest was heavy on speculative counters with intra-day rallies on several retail favorites; HVA Foods (+6.8%), Citrus Leisure (+6.0%) and Kalpitiya Beach Resort (+15.1%).