Indices point in opposite directions
September 27, 2013, 8:36 pm The Island
The Colombo bourse yesterday saw the All Share Price Index gain 22.9 points (0.40%) while S&P SL20 lost 9.98 points (0.31%) on a low turnover of Rs.409.1 million, down from the previous day’s Rs.920.2 million, with 148 gainers well ahead of 50 losers while 55 counters closed flat.
The CSE suspended trading in Touchwood which had seen a surge of recent speculative activity pending clarification by the company on press reports of announcements made at the previous day’s AGM. Touchwood had earlier been suspended by the SEC.
The suspension had been urged at a meeting of the CSE on Thursday at which brokers had been present.
Piramal Glass with 11.3 million shares sold, reportedly with a high net worth investor holding quantity exiting, was the day’s biggest business generator closing 10 cents up at Rs.5.40 and contributing Rs.59. million to turnover. The counter traded between Rs.5.20 and Rs.5.50 during a day in which there were no crossings.
JKH closed Rs.4.10 down at Rs.218.60 on nearly 0.3 million shares done between Rs.218.50 and Rs.222.90 contributing Rs.58.5 million to turnover. Brokers said that most of the trades were done at a price of Rs.222 and these included a parcel of 115,000 shares.
Banking stock continued to attract interest with Commercial Bank (voting) seeing nearly 0.3 million shares done closing 70 down at Rs.117 and contributing Rs.32.6 million to turnover. The stock traded between a low of Rs.117 and a high of Rs.118, brokers said.
Large quantities of Asia Asset Finance, a subsidiary of Asia Capital, was traded yesterday closing 10 cents up at Rs.2.40 on nearly 10.8 million shares transacted while Richard Pieris closed 10 cents up at Rs.6.50 on nearly 4.1 million shares done between Rs.6.30 and Rs.6.70 contributing Rs.26.2 million to turnover.
There had been unconfirmed rumours in the market that control of Asia Asset Finance was available for sale.
Distilleries, which had its AGM on Friday, closed Rs.5.80 up at Rs.189 on nearly 0.1 million shares done between Rs.185.90 and Rs.189.90 while Sampath Bank closed flat at Rs.170 on 91,552 shares.