HNB shines in Bourse with Rs. 318 m foreign buying
Wednesday, 29 January 2014 00:32
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Sentiments in the Colombo stock market remained subdued amidst shocks in other emerging markets but the silver lining was HNB enjoying Rs. 318 million in net foreign buying.
The market overall saw Rs. 267 million in net foreign buying keeping the year to date figure at Rs. 1.1 billion. Hatton National Bank saw net foreign buying of two million shares.
This was within 4.2 million HNB shares that traded for Rs. 663.55 million, accounting for 45.5% of the day’s turnover of Rs. 1.45 billion.
HNB saw three off-board blocks accumulating to 3.8 million shares at Rs. 156.6. The counter denoted significant on-board interest as well supported by several large blocks, largest being the 127,000 shares transaction which was at Rs. 160. HNB settled at Rs. 159 with a dip of 0.3%.
Distilleries also saw Rs. 12.5 million in foreign buying.
Ceylon Tobacco, John Keells Holdings and Commercial Bank were among the top turnover contributors. Index heavy JKH and CTC saw negative returns, dragging both indices down. In addition, Access Engineering, Expolanka and Textured Jersey saw continued activity.
Softlogic Stockbrokers said the bourse witnessed further retracement and closed below the technical resistance at 6,250. ASPI dipped 27 points. The price decline in CTC (-2.9%) was mainly attributable to the decline in the index followed by price dips in JKH (-1.4%) and Ceylinco Insurance (-8.8%). S&PSL20 too follow- suited and closed falling 26 points.
“CSE has held steady, despite significant negative returns seen in other emerging markets over the past few sessions. We expect this to continue,” NDB Stockbrokers said.
Year-to-date, ASI is up 5%.
