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Sri Lanka Equity Forum » Stock Market News » Turnover slightly up, but downtrend continues

Turnover slightly up, but downtrend continues

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1 Turnover slightly up, but downtrend continues on Thu Sep 17, 2015 9:05 am

Melissa Pereira

Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
The Colombo bourse yesterday continued its downward movement with turnover up to Rs. 771.3 million from the previous day’s Rs. 613.5 million with both indices down – the ASPI by 15.03 points (0.21%) and S&P SL20 by 15.50 points (0.40%) with 96 gainers slightly below 98 losers while 131 counters closed flat.

"The going was very dull with block trades in Kelani Tyres, HNB (non-voting) and Citizens Development Business Finance contributing Rs. 259.27 million to turnover in single parcel trades," a broker said. "HNB saw 0.5 million shares done at Rs. 174 (Rs. 87 million), CDB 0.53 million done at Rs. 102.50 (Rs. 54.9 million) and Kelani 1.43 million shares at Rs. 82 (Rs. 117.4 million)."

A silver lining was a foreign inflow of Rs. 46.61 million with purchases of Rs. 177.75 million ahead of sales of Rs. 131.14 million.

Brokers said that banking and financial services stock like Sanasa, Sampath, Central Finance and Seylan (non-voting) were among the most traded counters while chicken stocks too showed volume with Bairaha and Grain Elevators posting price declines while Three Acre Farms closed Rs. 2.70 up.

Sanasa Development Bank in which there had been some recent interest closed sharply up Rs. 7.20 at Rs. 165 on 0.3 million shares done between Rs. 157 and Rs. 199.90 topping the floor trades with a contribution of Rs. 49.9 million. Brokers said there were three parcels of 25,000 shares each done at Rs. 164 and the rest of the shares were transacted around that time.

Sampath Bank followed closing 40 cents down at Rs. 262 on nearly 0.19 million shares done between 260.10 and Rs. 262. 50 (Rs. 48.8 million); while Central Finance closed Rs. 3.50 up at Rs. 255 on 0.16 million shares done between Rs. 250.20 and Rs. 255 (Rs. 40.9 million).

Brokers said that a large parcel of 100,000 Sampath was included in the trades while the rest of the trades too were in fairly large parcels. Bulk of Central Finance traded was in two parcels.

"The ASPI ended lower for a second consecutive day this week amid improved turnover levels," John Keells Stock Brokers reported. "Selected stocks in the finance, banking, manufacturing, footwear & textiles and food & beverage sectors dominated turnover with crossings on CDB, HNB.X, and TYRE amounting to a third of total turnover."

Banks, Finance, & Insurance was the most actively traded sector (-0.99%), the report noted.

Volumes of over a million shares each were done in Textured Jersey closing 10 cents up at Rs. 31.80 on nearly 1.08 million shares, People’s Leasing closing Rs. 1.10 down at Rs. 22.50 on over 1.2 million shares and Hayleys Fabric closing flat at Rs. 18.50 on over 1.12 million shares.
Courtesy: The Island 16 September 2015


Market and stocks will become more attractive.

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