Sluggish day on CSE with indices up on low turnover

In a lack luster trading day, the Colombo bourse gained slightly on a modest turnover of Rs. 566 million, down from the previous day’s Rs. 2.13 billion, with the ASPI gaining 14.44 points (0.20%) and S&P SL20 up 9.57 points (0.24%) with 117 gainers ahead of 76 losers while 132 counter closed flat.

"There isn’t much activity these days apart from a few strategic deals as on Wednesday," a broker said. "Everybody is waiting for some sort of signal from the political front that isn’t coming. Most institutions are out of the market."

Foreign activity saw purchases of Rs. 41.4 million ahead of sales of Rs. 39.98 million enabling a small net inflow of Rs. 1.28 million.

There were block trades in three counters, Ceylon Guardian Investment Trust, DFCC and Adam Capital with Guardian seeing 0.2 million shares crossed at Rs. 185 in a deal worth Rs. 37 million, DFCC 0.1 million crossed at Rs. 200 (Rs. 20 million) and Adam 8.8 million shares crossed at Rs. 2.80.

"The ASPI ended higher amid subdued activity levels which were dominated by trades on investment trusts and banking & finance companies," John Keells Stock Brokers said. "The market saw crossings on DFCC, GUAR, and PCHH (Adam Capital)."

Banks, Finance, and Insurance was the most actively traded sector (+0.25%), the report noted.

DFCC topped the floor trades closing flat at Rs. 200 on 0.4 million shares done between Rs. 199.90 and Rs. 200 contributing Rs. 80.8 million to turnover. Anilana Hotels in which there was heavy trading on Wednesday followed closing Rs. 1.10 up at Rs. 5.10 on 13 million shares traded between Rs. 4.10 and Rs. 5.20 (Rs. 61.8 million) and Guardian closing two rupees up at Rs. 189 on over 0.1 million shares done between Rs. 185 and Rs. 189 (Rs. 23.8 million).

LB Finance continued its sharp upward trajectory, hitting a one-year high in intraday trading, closing Rs. 12 up at Rs. 232 on 97,146 shares done between Rs. 221 and Rs. 235 contributing Rs. 22 million to turnover, Vallibel Finance closed Rs. 2.30 up at Rs. 58 on 0.3 million shares done between Rs. 56 and Rs. 58.90 (Rs. 17.5 million) and Nation Lanka Finance which was heavily traded on Wednesday closed 20 cents up at Rs. 4.20 on 3.2 million shares done between Rs. 3.90 and Rs. 4.40 (Rs. 13.4 million).

NTB closing 20 cents up at Rs. 98.10 on over 0.1 million shares and Sampath closing Rs. 2.20 up at Rs. 256.10 on 46,892 shares were two other banking stocks on the most traded list.

Courtesy: The Island 18 June 2015