Bourse holds ground gained on Thursday

Opens strongly but loses steam later in the day


The Colombo bourse yesterday held the ground gained on Thursday with the two indices closing marginally in opposite directions after a strong start early in the day which was not sustained.

Turnover at Rs.2.17 billion was up from the previous day’s Rs.1.16 billion with the All Share Price Index up 6.08 points (0.12%) and the Milanka down 3.41 points (0.07%) with 81 gainers outpaced by 121 losers, brokers said.

"The market opened strongly with the All Share Price Index up 100 points but eased off later in the day," a broker said.

Nearly 10.7 million Commercial Banks accounted for over a billion rupees of yesterday’s turnover with the share closing flat at Rs.100 trading between Rs.99.70 and Rs.101.20 with three crossings at a Rs.100 price among the trades.

There was no word on buyers and sellers.

Hayleys, where Mr. Dhammika Perera made a mandatory offer of Rs.380 late last year, closed Rs.17.90 up at Rs.390 with nearly 0.4 million shares done between Rs.356 and Rs.390 accounting for the day’s second highest turnover of Rs.139.3 million.

There was no word on buyers or sellers but analyst noted that two large parcels of 105,300 and 97,700 were done at Rs.380 with the share later moving up to Rs.385 and Rs.390 on smaller quantities. The bigger deals in Hayleys were done in late afternoon trading.

JKH closed flat at Rs.164 on over 0.3 million shares done between Rs.161 and Rs.164.90 with some large parcels done at Rs.161.

Retail activity was seen on several second tier stock like HVA, down 20 cents to close at Rs.20.70 on nearly 2.5 million shares; ERI down 30 cents to Rs.18.70 on over 2.3 million shares, Acme Aluminium up Rs.3.60 to Rs.26.40 on 1.4 million shares, Blue Diamonds (non-voting) up 20 cents to Rs.2.70 on 11.2 million shares and Asia Asset Finance up 10 cents to Rs.4.40 on 6.3 million shares.

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