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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Bourse holds its ground on healthy turnover Pre-election fast forward momentum eases

Bourse holds its ground on healthy turnover Pre-election fast forward momentum eases

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Melissa Pereira


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
The Colombo bourse held its ground yesterday with turnover topping Rs. 2.1 billion, down from the previous day’s Rs. 2.61 billion with the ASPI gaining 16.25 points (0.22%) while S&P SL 20 closed virtually flat gaining 0.93 points (0.02%) with 111 gainers ahead of 101 losers while 46 counters closed flat.

"The market was stronger during early trading but lost some of the intra-day gains by close," a broker said. "Commercial Bank (voting) dominated activity with a crossing of 0.3 million shares at Rs. 173 in a deal worth Rs. 51.6 million and over 3.1 million shares done on the floor closing 60 cents down at Rs. 173 and contributing Rs. 541.7 million to turnover."

He said nearly the whole quantity done on the floor were in two deals at a price of Rs. 172.50 with over three million shares done within a fraction of a second at that price.

Other than the ComBank crossing, there were block trades in HDFC where a parcel of nearly 0.7 million shares were crossed at Rs. 73 contributing Rs. 73 million to turnover, Nestle where two parcels totaling 24,461 shares were crossed at Rs. 2,100 a share (Rs. 51.4 million) and a parcel of nearly 0.3 million JKH crossed at Rs. 190 (Rs. 50 million).

HDFC also saw 0.8 million shares done on the floor trading between Rs. 70 and Rs. 74.50 closing Rs. 2.40 up at Rs. 74.40 and contributing Rs. 61.1 million to turnover. The 52-week high for this counter is Rs. 75, brokers said.

ComBank (voting) comfortably topped the floor trades followed by Textured Jersey (TJL) which hit a 52-week high Rs. 32.40 during intraday trading. The counter closed 80 cents up at Rs. 31.80 on 3.5 million shares done Rs. 31 and Rs. 32.40 generating a turnover of Rs. 111.8 million.

"There were two large parcels of TJL totaling to about 650,000 shares done at Rs. 32 among the floor trades," a broker said. "The rest of it was done in smaller lots with retail interest in the stock evident."

Foreigners continued to be net sellers with an outflow of Rs. 683.95 million recorded with sales of Rs. 853.09 million against purchases of Rs. 169.14 million.

"The ASPI ended higher amid healthy market turnover," John Keells Stock Brokers reported. "Selected manufacturing, banking, food & beverage, power & energy and telco stocks witnessed buying interest in the market with crossings seen on JKH, NEST, HDFC, and COMB."

Banks, Finance & Insurance was the most actively traded sector (+0.03%), the report said.

Other most traded stocks included Sampath Bank up 20 cents to close at Rs. 275 on over 0.3 million shares, Bairaha up Rs. 6.80 to Rs. 166 on over 0.5 million shares, Aitken Spence down Rs. 1.50 to Rs. 98 on over 0.5 million shares and Access down 30 cents to Rs. 27.10 on nearly 1.9 million shares.

Singer Sri Lanka which moved up sharply on Tuesday closed flat at Rs. 147 on nearly 0.3 million shares, Seylan (non-voting) was down 40 cents to Rs. 78.90 on nearly 0.5 million shares, MTD was down 80 cents to Rs. 63 on nearly 0.6 million shares and LIOC was up Rs. 1.40 to close at Rs. 37.30 on nearly a million shares.
Courtesy: The Island 12 August 2015

Recicash

Recicash
Manager - Equity Analytics
Manager - Equity Analytics
Last few days high turnover and index too up, is a good sign local institutions buying. Today JKH crossing traded.

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