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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Bourse losses steam, indices down

Bourse losses steam, indices down

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1Bourse losses steam, indices down Empty Bourse losses steam, indices down Sat Jul 12, 2014 8:54 pm

dilruk raja


Manager - Equity Analytics
Manager - Equity Analytics




The Colombo bourse was unable to sustain its mini bull run yesterday with both indices down on a turnover of Rs.1.67 billion, down from the previous day’s Rs.2.36 billion – the ASPI losing 7.46 points (0.11%) while S&P lost 26.98 points (0.72%) with 128 losers outpacing 99 gainers while 97 stocks closed flat.

"The market eased off on profit taking although it went up 40 points at the start of trading," a broker said. "However it was clear that sentiment was weak."

JKH continued to be the biggest turnover generator seeing 0.9 million shares done between Rs.239.10 and Rs.243 closing 90 cents up at Rs.240 contributing Rs.418 million to turnover. Brokers said that most of the shares traded were done at the Rs.240 level.

Block trades were done only in the DFCC where million shares was crossed at Rs.162.50 contributing Rs.162.5 million to turnover while Textured Jersey saw two parcels totaling 6.5 million shares crossed at Rs.19.50 contributing Rs.126.8 million.

Apart from the crossings, Textured Jersey saw 8.3 million shares traded on the floor between Rs.19.30 and Rs.19.60 closing 20 cents up at Rs.19.50 contributing Rs.161.7 million to turnover.

SLT which had seen recent investor interest closed Rs.4.50 up at Rs.56.50 on over 1.7 million shares done between Rs.52 and Rs.57.20 which is a year’s high for this counter contributing Rs.95.6 million to turnover.

"This share was stuck at Rs.45 for a long time but has been gaining in the last few days provoking speculation that something is happening," a broker said. "But no one knows what that something might be."

Most traded banking stock yesterday included Sampath closing Rs.1.10 down at Rs.216.80 on nearly 0.3 million shares and Nations Trust closing flat at Rs.76 on nearly 0.5 million shares.

Hayleys was up Rs.4.80 to close at Rs.304.80 on slightly over 150,000 shares done between Rs.299.90 and Rs.304.80 contributing Rs.45.4 million to turnover.

Other gainers among the most traded stock was CIC (voting) closing 70 cents up at Rs.67 on nearly 0.5 million shares, PC House closing 10 cents up at Rs.3.40 on nearly 7.3 million shares and Colombo Land closing Rs.1.80 up at Rs.40.90 on over 0.6 million shares.

Lanka Orix Finance (LOFIN) said in a Stock Exchange filing that it had provided facilities to Dynaris Holdings PLC and approximately Rs.100 million was outstanding. It had obtained a sequestration order from the High Court preventing Dynaris from disposing its assets which included shares of PCH Holdings.

"We have been made to understand that Dynaris are planning to dispose of shares held by them in violation of the above court order," LOFIN said requesting the CSE to make this announcement to the public and to stockbrokers that any stockbroker who facilitates trades of shares owned by Dynaris in violation of the court order, "will also be liable to contempt of court".

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