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Bourse in the red

Stock Market Review for the week ending 16th November 2012:



Trading for the week began on a positive note with both the indices gaining marginally. The All Share Price Index and the Milanka gained 10 and 23 points respectively to end the day at 5,599 and 5,176 respectively. However thin volumes and a low turnover of Rs 244 million was recorded for the day. An announcement of a MoU between Environmental Resource Investments (ERI) and Tabrobane Holdings for the purchase of shares in Browns Investments by ERI positioned both Browns Investments and Environmental Resource Investments as the top contributors’ for the day. John Keells Holdings attracted continued foreign interest and gained Rs 2.10 to close at Rs 217.00. Browns Investments and ERI both appreciated by cents -/50 to close at Rs 4.20 and 17.40 respectively. A net foreign inflow of Rs. 43 million was recorded.


The market opened on Wednesday on a negative tone with the All Share Price Index registering a 26 point loss to close at 5,574 while the Milanka closed flat at 5,176. A low turnover of Rs. 200 million was recorded with thin volumes being traded. John Keells Holdings was the day’s highest contributor with a block trade of 130,700 shares changing hands for Rs 218.50. Also in the top gainers list was NDB and Overseas Reality, attracting local and foreign institutional interest. Widespread interest was focused on Browns Investments and Environmental Resource Investments. John Keells Holdings gained Rs 1.10 to close at Rs 218.00 while Browns Investments and ERI both lost by cents -/10 and cents -/60 to close at Rs 4.10 and 16.80 respectively. A net foreign inflow of Rs. 25.4 million was recorded.


On Thursday, the market got off to a positive start but closed the day in the red recording price declines. Both the All Share Price Index and the Milanka lost 17 and 48 points to close at 5,558 and 5,127 respectively. A slightly higher turnover of Rs 562 million was recorded on the back of foreign and institutional participation in JKH and Lion Brewery. Several block trades, amounting to 1.3 million shares took place in JKH at Rs 218.50 while a parcel of 173,500 shares changed hands in Lion Brewery at Rs 275.00. Widespread interest was focused on Browns Investments and LOLC. John Keells Holdings lost Rs 3.00 to close at Rs 215.00 while Lion Brewery appreciated by Rs 13.90 to close at Rs 279.80. Browns Investments gained cents -/30 to close at Rs 4.30. A large net inflow of Rs 336 million was recorded which amounts to circa 65% of the day’s turnover.


On Friday the market closed on a mixed note with the All Share Price Index declining by almost 2 points and the Milanka gaining 16 to close at 5,556 and 5,144 respectively. Turnover of Rs 431 million was recorded for the day. Foreign and institutional interest in JKH continued with the counter dominating the top contributors list with Rs 204 million. Dockyard and Asiri brought in around Rs 19 million each followed by Softlogic bringing in Rs 12 million. The share price of JKH increased by Rs 1.00 to close at Rs 216.80 while Dockyard lost Rs 5.50 to close at Rs 219.00. A net foreign inflow of Rs 212 million was recorded for the day.


Courtesy: Innovest Investments (Pvt) Ltd – an Investment Management Company licensed by the Securities & Exchange Commission of Sri Lanka


 
 
 
 
 
 
 
 

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