Sep 12, 2013 (LBT) - Indices stagnant: Indices moved on a stagnant note during majority of the trading day and picked up marginally during the final hour before settling with a gain of 14 points at 5,744.50. The positive momentum was supported by John Keells Holdings (+0.4%), Asian Hotels and Properties (+6.0%) and Carson Cumberbatch (+5.2%). Consequently the S&P SL20 index secured a marginal gain of 5 points.
Crossings in JKH & Sampath: John Keells Holdings extended its dominancy as it spearheaded turnover backed by an off-board block of 98k shares at LKR209.1. Its price gained 1.4% at its intra-day high of LKR212.0 before settling at LKR210.0. Sampath Bank continued to attract investor focus as it closed down 1.0% at LKR178.1 leaving further room for accumulation supported by its’ attractive PER of 7.3x and 5.6x for 2013E and 2014E. The counter saw a block of 289k shares being crossed off at a 52-week low (off-board) price of LKR180.0.
F&B sector players gathered interest: F&B sector players; Ceylon Cold Stores and Kotmale Holdings traded among the top turnover slot backed by renewed buying interest. The former gained 2.7% at its intra-day high level of LKR148.0 before closing flat while the latter gained 12.7% at LKR55.0 and settled with a gain of 8.6% at LKR53.0. Asiri Hospital Holdings gathered some interest as it gained 3.6% at its close of LKR14.5.
Retailer activity on selected counters: Retail activity surrounded selected counters with the stagnant movement of indices. Majority of retail interest surrounded Blue Diamond Voting and Non-Voting, Swarnamahal Finance, York Arcade Holdings and HVA Foods.