Although turnover on the Colombo bourse yesterday topped Rs. 1.5 billion, up from the previous day’s Rs. 982.2 million, both indices were down – the ASPI by 26.54 points (0.36%) and S&P SL20 by 16.06 points (0.39%) with 105 losers ahead of 86 gainers while 134 counters closed flat.
"The market was somewhat negative mostly on profit taking," a broker said. "Turnover was supported by several crossings in JKH, and single parcels of Seylan Bank (voting) and Hemas Holdings."
Foreigners continued to be net sellers with sales of Rs. 548 million ahead of purchases of Rs. 391 million leading to a net outflow of Rs. 158 million.
JKH, the main business generator for the day, saw a total of 1.85 million shares crossed in six parcels, one at Rs. 191 and the rest at Rs. 191.50 contributing Rs. 354.2 million to turnover. A single parcels of 0.55 million Hemas was crossed at Rs. 95 (Rs. 52.3 million) and a parcel of Seylan (voting) of 0.2 million shares was crossed at Rs. 108.20 in a deal worth Rs. 21.6 million.
Despite the overall negative picture some of the most traded counters gained sharply with Hemas closing Rs. 4.10 up at Rs. 96.10, Kelani Tyres Rs. 3.50 up at Rs. 86.50, Bairaha Rs. 8.40 up at Rs. 157 and Associated Cables Rs. 2.60 up at Rs. 106. Most of these stocks were traded in large parcels.
JKH closed Rs. 2.30 down at Rs. 191.90 on the trading floor on over 120,000 shares done between Rs. 191 and Rs. 193.90. Both warrants were also down with W0022 Rs. 1.60 down to Rs. 31.10 on over 850,000 traded between Rs. 28 and Rs. 33 and W0023 down 30 cents to Rs. 41.50 on over 107,000 done between Rs. 40 and Rs. 43.40.
"The ASPI declined today amid heavy turnover levels," John Keells Stock Brokers reported. "Most sectors saw declines with the diversified, manufacturing, and the banking, finance, insurance sectors leading activity in the market. Crossings on JKH, HHL and SEYB accounted for 28% of the day’s turnover."
Diversified Holdings was the most actively traded sector (-0.14%), the report noted.
Hayleys Textiles (previously Hayleys MGT) topped the floor trades closing 10 cents down at Rs. 18.90 on over 4.7 million shares done between Rs.18.50 and Rs. 19.20 contributing Rs. 87.9 million to turnover. Brokers said that the bulk of the trades were in five large parcels at Rs. 18.50.
Hemas followed closing Rs. 4.10 up at Rs. 96.10 on over 0.7 million shares done between Rs. 91 and Rs. 96.20 generating Rs. 68.2 million turnover while Royal Ceramics closing Rs. 1.40 down at Rs. 133 on 0.4 million shares done between Rs. 132.70 and Rs. 135 closed third on the most traded list. Here too most of the trades were in large parcels.
Other most traded stock were Kelani Tyres closing Rs. 3.50 up at Rs. 86.50 on over 0.5 million shares, Textured Jersey closing 10 cents down at Rs. 30.30 on nearly 1.5 million shares, Lanka Wall Tiles closing Rs. 3.70 down at Rs. 121.10 on over 0.3 million shares, HNB (voting) closing 50 cents down at Rs. 220.50 on nearly 0.2 million shares and Bairaha closing Rs. 8.40 up at Rs. 157on over 0.2 million shares.
Courtesy: The Island 4 August 2014