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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Indices reversed backed by the recent down trended counters

Indices reversed backed by the recent down trended counters

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Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
WRITTEN BY THARANGA SENARATNE

Aug 29, 2013 (LBT) - Bourse reversed led by CTC, JKH and NEST: The benchmark indices reversed its direction on a positive note backed by the large caps, reminiscence of the downtrend led by the same counters. ASPI closed at 5,825.06 with a gain of 72 points. Gains recorded in Ceylon Tobacco Company (+2.6%), John Keells Holdings (+3.2%) and Nestle Lanka (+2.5%) positively impacted the market performances. S&P SL20 journeyed similarly with a gain of 55 points to close at 3,264.96.

Sampath Bank spearheaded the turnover: Sampath Bank topped the turnover led by a single off-board transaction of 500k shares which changed hands at LKR189.0. The counter witnessed noteworthy on-board interest supported by a single 89k share transaction at LKR189.0. SAMP recorded a notable intra-day gain of 5% and settled LKR189.0, followed by its sharp depreciation yesterday. John Keells Holdings too denoted off-board interest with a single crossing of 215k shares at LKR212.0.  JKH ended the day on a positive note at LKR214.6 with a gain of 3.2%. People’s Leasing and Finance crossed a single 1.9mn share transaction at LKR14.4.

PLC denoted on-board interest: People’s leasing and Finance displayed notable on-board activity led by three transactions totaling 5mn shares at LKR14.4 in late trading. The counter settled the day with a marginal gain of 0.7% and ended at LKR14.4. Nestle Lanka too added noteworthy on-board turnover largely led by a single transaction of 10k shares at LKR2100.0. NEST ended at LKR2100.3 with a gain of 2.5%.

Retailers followed a cautious approach: Retailer activity was cautious and meagerly concentrated on Touchwood Investments and Nations Lanka Finance.
http://lbt.lk/stock-market

sriranga

sriranga
Co-Admin
COLOMBO, Aug 29 (Reuters) - Sri Lankan stocks rebounded strongly on Thursday from a near five-month low, led by John Keells Holdings as investors started buying into the country's top conglomerate after an over 10 percent fall in the previous session.

John Keells jumped 3.1 percent to 214.60 rupees after its 10.2 percent fall on Wednesday following the announcement of a $299.14 million rights and warrant issue.

'Keells was bit oversold yesterday. So investors started buying,' a stockbroker said.

The main share index gained 1.25 percent, or 71.86 points, to 5,825.06, from its lowest close since early April hit in the previous day.

Analysts said investors were concerned about further falls in the rupee, which hit an all-time low on Wednesday amid panic buying by importers. It recovered on Thursday.

Foreign investors were net buyers of 112.5 million rupees worth of shares, extending net inflows so far this year to 18.45 billion rupees worth of shares.

Turnover was 511.4 million rupees, well below this year's daily average of about 910 million rupees.

(Reporting by Shihar Aneez; Editing by Subhranshu Sahu)

(shihar.aneez@thomsonreuters.com)(+94-11-232-5540)

(Reuters Messaging: shihar.aneez.thomsonreuters.com@reuters.net)
http://www.xe.com/news/2013/08/29/3519957.htm

http://sharemarket-srilanka.blogspot.co.uk/

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