Heavy buying ahead of the election together with profit taking drove turnover on the Colombo bourse yesterday with a business volume of nearly Rs. 2.5 billion, up from the previous day’s Rs. 2.37 billion, with both indices up – the ASPI by 10.93 points (0.15%) and S&P SL20 by 8.84 points (0.22%) and 118 gainers comfortably ahead of 84 losers while 123 counters closed flat.
"Textured Jersey was the most traded stock for the day with 13.5 million shares crossed in three parcels at Rs. 30.30 in deals worth Rs. 409 million and a further nearly 7.3 million shares done at the same price on floor," a broker said. "There was one big seller and an available large quantity has now been disposed."
Foreigners continued to be net sellers with sales of Rs. 693.77 million ahead of purchases of Rs. 428.34 million leading to an outflow of Rs. 265.43 million.
Block trades accounted for around 40% of the day’s turnover with, apart from Textured Jersey, crossings in JKH, People’s Leasing (PLC), Tobacco (CTC), Sampath, Chevron and Expo Lanka. The block trades contributed Rs. 1.1 billion to turnover.
Brokers said that retailers came into Textured Jersey late in the day following the last big block that was crossed about half an hour before trading closed. Local institutions and retailers were on the buying side.
JKH saw over 1.8 million shares crossed in four parcels, two at Rs. 189.50 and two at Rs. 192 contributing Rs. 345.6 million to turnover while PLC saw two parcels of over four million shares crossed at Rs. 24.80 (Rs. 100 million). Other crossings were in CTC with 0.1 million shares done in two parcels at Rs. 980 a share (Rs. 98 million), Sampath with a parcel of 0.2 million shares crossed at Rs. 263 (Rs. 52.6 million), Chevron a parcel of 60,000 shares crossed at Rs. 406 (Rs. 24.4 million) and Expo a parcel of 13.5 million shares crossed at Rs. 30.30 (Rs. 409 million).
"The ASPI ended higher amid healthy turnover levels," John Keells Stock Brokers reported. "Buying interest in selected power & energy, diversified, banking, manufacturing, telco, and construction & engineering counters led turnover, with crossings seen on many counters including TJL, JKH, PLC, CTC and EXPO."
Manufacturing was the most actively traded sector (-0.20%), the report noted with analysts saying this reflected the interest in Textured Jersey.
This counter was the most actively traded on the floor closing flat at Rs. 30.30 with a share volume of 13.5 million transacted between Rs.30.20 and Rs. 30.30 contributing Rs. 220.6 million to turnover. LIOC followed closing Rs. 1.30 up at Rs. 36.20 on nearly 4.6 million shares done between Rs. 34.70 and Rs. 36.20.
Usually illiquid Sunshine Holdings saw a million shares done in one parcel at Rs. 60 with over 1.1 million shares traded between Rs. 58.50 and Rs. 61 contributing Rs. 67.4 to the day’s turnover while Sampath, with over 0.2 million shares traded closed 90 cents up at Rs. 263.90 trading between Rs. 262 and Rs. 263.90 contributing Rs. 56.1 million to turnover.
Associated Cables, also on the most traded list, saw retail play closing three rupees up at Rs. 113 on nearly 0.5 million shares. Dialog closed 20 cents up at Rs. 11.20 on over 4.1 million shares done mostly in large parcel including one of 1.4 million shares.
Other most traded stock in turnover terms were MTD Walker up 30 cents to Rs. 63.30 on nearly 0.7 million shares, Softlogic Holdings closing 50 cents up at Rs. 17.60 on nearly 2.4 million shares, Grain Elevators 40 cents down to Rs. 72 on 0.5 million shares, PLC 10 cents up to Rs. 24.70 on nearly 1.4 million shares and LMF up 10 cents to Rs. 165 on nearly 0.2 million shares.
Courtesy: The Island 6 August 2015