Bourse ends on a mixed note

Thursday, 6 December 2012 01:14 - - {{hitsCtrl.values.hits}}

The Colombo stock market closed yesterday on a mixed note for second day running with ASI shedding 0.15% (8.24 points) over yesterday’s close whilst the more sensitive Milanka Price Index (MPI) rose by 0.03% (1.23 points).

The S&P SL 20 Index (S&P) declined by 0.31% (9.03 points) during the day. The ASPI, MPI & the S&PSL20 ended the day at 5,323.21 points, 4,856.84 points & 2,923.14 points respectively.

SC Securities said market turnover improved to Rs. 871.04 million chiefly due to the high value block trades. Aviva NDB Insurance PLC (CTCE) alone contributed 60%to the total market turnover, while more Block trades were seen in John Keells Holdings PLC and Asiri Surgical Hospital PLC (AMSL). The top five turnover generators accounted for 86% of the total market turnover.

CTCE witnessed solitary off the market block trade of 1.5 million shares at a price of Rs. 349.00 which resulted in the counter ending as the highest turnover generator. The counter generated a total turnover of Rs. 523.5 million and ended the day at Rs. 330.00, declining by 5.44% (Rs. 19.00) over the previous close.

JKH witnessed two off the market block trades of 250,000 shares each at Rs. 209 generating a total turnover of Rs. 104.5 million. The counter generated a turnover of Rs. 61.74 million through normal trades. JKH traded at a low of Rs. 208.50 and a high of Rs. 210 before ending the day at Rs. 209.10, gaining 0.10% over Tuesday’s close.

AMSL generated a turnover of Rs. 27 million from the solitary block trade which took place at a price of Rs. 9.00. AMSL traded at a low of Rs. 8.60 and a high of Rs. 9.00 before ending the day higher at Rs. 9.00 rising by 5.88%.

Foreigners ended the day as net buyers with foreign purchases worth of Rs. 727.83 million against foreign sales worth of Rs. 25.91 million resulting in a net inflow of Rs. 701.92 million.

Softlogic Stockbrokers said indices continued its volatile path swinging between marginal gains and losses leading the benchmark index to remain largely unchanged. The S&P SL20 also moved in a similar pattern closing at 2,923.1 points with a 9 point dip.

Vallibel One, People’s Leasing and Aitken Spence Hotel Holdings weighed on the indices positively, whilst Chevron Lubricants, Bukit Darah and Sri Lanka Telecom were among the largest negative contributors.

Considerable buying pressure was seen in Vallible One amidst several on board transactions as the counter advanced 3.5% at its close of Rs. 17.6. Interest was also notable in Access Engineering, Colombo Dockyard and Lanka IOC, Softlogic added.

Asia Wealth Management said it was evident that retail investor participation was minimal during the day, whilst long term investments being executed on selected counters by institutional and high net worth investors.