Written by Tharanga Senaratne
May 31, 2013 (LBT) - Indices continued its consolidation phase: Indices journeyed on a volatile path with the benchmark index having fluctuated between 6,446.01 (-9 points) and 6,474.72 points (+19 points) before ending with a marginal gain at 6,463.06 points. S&P SL20 players were the major positive contributors to the index with Dialog Axiata (+2.2%), Ceylon Tobacco Company (+6.5%) and Chevron Lubricants (+2.6%) topping the list. Consequently the S&P SL20 index closed up 6 points at 3,646.32 points with the latter counters trading at 52-week high levels of LKR1,000.0 and LKR332.9 respectively.
Commercial Bank spearheaded the turnover; crossings added 21%: Investor play heightened in Commercial Bank as two blocks totaling c.819k shares were crossed off at LKR125.0 during early trading. John Keells Holdings booked the second top turnover slot with notable on-board interest before it closed with a dip of 0.6% at LKR285.0. Aitken Spence added c.194k shares to the crossings board at a new 52-week high (off-board) price of LKR134.0. Interest stayed in Lanka Floortiles as it registered a block of 300k shares at LKR80.0.
Investor play in Nation Lanka Finance and C T Land and Development persisted: Retail favourite; Nation Lanka Finance continued its rally having touched LKR11.6 before closing with a further gain of 4.6% at its close. Interest stayed in C T Land and Development leading the counter to trade at a 52-week high of LKR36.0 with an on-board trade of c.996k shares at LKR32.0. Access Engineering encountered renewed interest following its earnings release today. The counter closed with a gain of 3.4% at LKR21.5. Key dividend players of the bourse; Chevron Lubricants and Ceylon Tobacco Company also saw uninterrupted investor interest.Retail activity remained steady: Retailers continued their focus in selected counters as majority of focus surrounded Laugfs Gas [Non-Voting], Nation Lanka Finance, SMB Leasing and PC House.