Sri Lanka stocks hit twenty two -month low

Redbulls · 1 Sri Lanka stocks hit twenty two -month low Mon May 28, 2012 7:25 pm

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Sri Lankan stocks, continued to tumble Monday with share prices of at least one blue chip company and a commercial bank declining in lackluster trading, analysts said.

The market continued its previous week’s negative momentum to open the week with a selling sentiment in the Colombo bourse a stock brokers said.

All Share Price Index fell 1.49 percent or 74.66 points to close at 4,935.01 its klowest since 27th July 2010 (22 months) while the liquid Milanka Price Index fell 1.86 percent or 84.57 points to end at 4,441.56, its lowest since February 15th , a stock broker said. The total turnover was Rs. 395.8 million, with a highest contribution from conglomerate John Keells Holdings PLC (JKH)

JKH, was down Rs. 4.10 to Rs. 192.00 with 804,053 shares changing hands.

Sampath Bank PLC’s, share price fell Rs. 1.60 to Rs. 162.00 with276,471 shares traded. A crossing of of 260,412 Sampath shares was recorded at Rs. 160.00 just before the end of trading, a stock broker said.

Singer Sri Lanka, share price was down Rs. 1.40 to Rs.88.00 with 201,888 shares changing hands.

John Keells Holdings PLC, Sampath Bank PLC and Singer Sri Lanka PLC were the largest contributors recording turnovers of Rs. 154.7million, Rs 85.8 million and Rs. 16.2 million respectively. The market continued to record a net foreign inflow of Rs 65.7 million .

Ends.
(Bandula)
http://sundaytimes.lk/index.php?option=com_content&view=article&id=19630:sri-lanka-stocks-hit-twenty-two-month-low-&catid=77:news&Itemid=563

sriranga · 2 Bourse down to lowest since Aug 2010 Mon May 28, 2012 11:44 pm

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Continuing from where it left off last Friday, the Colombo Stock Exchange fell to a new low on Monday, falling 18.76 percent year-to-date, with both indices closing in the red.

The bourse which closed last week on a four month low, saw the All Share Price Index fall a further 1.49 percent yesterday, down 74.66 points to close at 4,935.01 while the Milanka Price Index of more liquid stocks closed 1.87 percent lower, 84.57 points down at 4,441.56.

"The ASPI reached its lowest level since August 2010 as the indices declined sharply amidst subdued turnover levels, which were dominated by JKH which accounted for over 35% of total turnover," John Keells Stockbrokers said.

Turnover was a little more than Rs. 395.8 million on thin volumes with 19.7 million shares changing hands during the day.

Forty (40) counters closed in positive territory against 176 counters that closed in the red.

Net foreign inflow amounted to Rs. 65.69 million.

"The market have broken crucial support levels of 4,960 and have closed below that, this has added to the already bearish sentiment prevailing in the market. The level of 4,960 was the low the Index made on February 14, 2012. This was a crucial level as the Index recovered after touching this level in February 2012.

But Monday’s close below that support has opened way for the Index to see far lower levels. The volumes in the markets continue to be low. The next support level for the Index comes at 4,750," Bartleet Religare Securities said.

JKH made the highest contribution to the day’s turnover with Rs. 154.7 million. The share closed at 191.10, down 2.10 percent from the previous close.

Sampath Bank generated a turnover of Rs. 44.2 million, a share closed at Rs. 161.40, down 0.98 percent. The counter featured in a crossing of 260,412 shares at Rs. 60 each.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=53049