Retailers help bourse to look up

Both indices on the Colombo bourse were up yesterday while turnover topped the Rs.2 billion mark after several days with substantial retail play evident in companies of the Colombo Fort Land and Buildings group and some others, broker’s said.


The All Share Price index was up 13.87 points (0.19%) and the Milanka up 19.96 points (0.29%) with 94 gainers slightly ahead of 90 losers on a turnover of Rs.2.08 billion, up from the previous day’s Rs.1.32 billion.

``The market was a little more active than in recent days," Prashan Fernando of Acuity Stockbrokers said. "The main action was on Commercial Bank where there was a crossing of a million shares at a price of Rs.265 with no word on the buyer or seller."

ComBank closed Rs.2.20 up at Rs.268 with slightly over a million shares traded. All these trades – just three excluding the crossing – were small parcels at a price of Rs.268.

Retail play was seen in Colombo Fort Lands, E.B. Creasy, Lankem Ceylon, Pan Asia, Browns and Serendib Hotels, brokers said.

Colombo Fort Lands closed Rs.8.20 up at Rs.432.10 on nearly 0.5 million shares done between Rs.432.10 and Rs.460 generating the day’s second highest turnover of Rs.218.1 million behind Commercial Bank’s Rs.265.5 million.

Pan Asia Bank too gained Rs.6.30 to close at Rs.60 on nearly 3.4 million shares done between Rs.53 and Rs.60 while Browns was up Rs.12.40 to close at Rs.347 on nearly 0.5 million shares traded between Rs.338.10 and Rs.359.

Serendib Hotels, with speculation of a share split, gained Rs.8.90 to close at Rs.165 with 0.5 million shares done between Rs.140 and Rs.172.

Lankem Ceylon was up Rs.13.70 to Rs.520 on nearly 0.3 million shares done between Rs.515 and Rs.540 while Aitken Spence gained 60 cents to close at Rs.163 on over 0.8 million shares done between Rs.163 and Rs.166.

Spence Hotels too was up Rs.8.90 to close at Rs.165 on nearly 0.5 million shares done between Rs.140 and Rs.172.

E.B. Creasy lost Rs.56.50 to close at Rs.3,000 on 16,000 shares while Ceylon Guardian was down a rupee to close at Rs.384 on 0.1 million shares. Central Finance gained Rs.11.70 to close at Rs.1, 435 on 28,300 shares.

source - www.island.lk