would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc.. 
Home
The Colombo stock market yesterday moved back to double digit negative return level as investor sentiments turned bearish with low activity.
The Bourse finished the week with a negative 10.1% year-to-date return after indices dipped marginally yesterday. Thanks to rebound in sentiments and foreign and local buying, the Bourse improved to single digit negative return on 23 February. This phenomenon lasted until yesterday.
“The Colombo Bourse could not move out of the gloomy terrain as investors continued to be on the side lines. Both the main market indices slid into the red amid low activity levels. The broader market index, the All Share Price Index (ASPI), ended the day at 5,460.19 points, losing 0.17% (9.49 points) over Thursday’s close whilst the Milanka Price Index (MPI) too declined 0.38% (18 points) to close at 4,745.19 points,” SC Securities said.
NDB Stockbrokers said markets continued to remain slow throughout the day with some retail activity seen in PC House and Environmental Resources.
Institutional and high net worth investors continued to show interest in SPEN and CTC.
The Diversified sector was the highest contributor to the market turnover (due to Aitken Spence with Rs. 103.5 million on account of 0.87 million shares traded and JKH with Rs. 44.4 million) and the sector index declined by 0.29%. The share price of SPEN shed Rs. 0.10 (0.09%) to close at Rs. 115 while the share price of JKH gained Rs. 0.60 (0.34%) to close at Rs. 178.50.
The share price of CTC jumped Rs. 6.10 (1.21%) to close at Rs. 510 whilst it accounted for second largest turnover with Rs. 57 million worth of deals done. Illiquid stocks figured in the top percentage wise gainers.
For the week ASPI and MPI declined marginally by 0.30% and 0.17% respectively.
Meanwhile, Reuters reported that the stock market closed down, hindered by concerns over the slowing economic growth, rising interest rates and broadly flat December quarter profits.
The cumulative December quarter earnings from 217 companies released so far is flat year-on-year, according to data from John Keells Stockbrokers.
“Interest rates are going up and companies are also feeling it,” Harsha Fernando, head of SC Securities, told Reuters. “I am very much concerned about the interest rates, because it will not encourage people to come to the market, it will affect companies’ performance.”
Foreign investors bought shares worth Rs. 95.6 million, extending the offshore net foreign inflow to Rs. 2.31 billion so far this year, after a net outflow of Rs. 19.1 billion last year.
The day’s turnover was Rs. 403.2 million and the volume was 15 million, the lowest levels since early January.
The oil palms sector led the way down with a 14.7 per cent loss in Selinsing PLC.
The Colombo Bourse is one of the worst performers this year among Asian markets, with a 9.96 per cent loss while the majority has had positive returns.
http://www.ft.lk/2012/03/03/bourse-back-to-double-digit-dip/
The Bourse finished the week with a negative 10.1% year-to-date return after indices dipped marginally yesterday. Thanks to rebound in sentiments and foreign and local buying, the Bourse improved to single digit negative return on 23 February. This phenomenon lasted until yesterday.
“The Colombo Bourse could not move out of the gloomy terrain as investors continued to be on the side lines. Both the main market indices slid into the red amid low activity levels. The broader market index, the All Share Price Index (ASPI), ended the day at 5,460.19 points, losing 0.17% (9.49 points) over Thursday’s close whilst the Milanka Price Index (MPI) too declined 0.38% (18 points) to close at 4,745.19 points,” SC Securities said.
NDB Stockbrokers said markets continued to remain slow throughout the day with some retail activity seen in PC House and Environmental Resources.
Institutional and high net worth investors continued to show interest in SPEN and CTC.
The Diversified sector was the highest contributor to the market turnover (due to Aitken Spence with Rs. 103.5 million on account of 0.87 million shares traded and JKH with Rs. 44.4 million) and the sector index declined by 0.29%. The share price of SPEN shed Rs. 0.10 (0.09%) to close at Rs. 115 while the share price of JKH gained Rs. 0.60 (0.34%) to close at Rs. 178.50.
The share price of CTC jumped Rs. 6.10 (1.21%) to close at Rs. 510 whilst it accounted for second largest turnover with Rs. 57 million worth of deals done. Illiquid stocks figured in the top percentage wise gainers.
For the week ASPI and MPI declined marginally by 0.30% and 0.17% respectively.
Meanwhile, Reuters reported that the stock market closed down, hindered by concerns over the slowing economic growth, rising interest rates and broadly flat December quarter profits.
The cumulative December quarter earnings from 217 companies released so far is flat year-on-year, according to data from John Keells Stockbrokers.
“Interest rates are going up and companies are also feeling it,” Harsha Fernando, head of SC Securities, told Reuters. “I am very much concerned about the interest rates, because it will not encourage people to come to the market, it will affect companies’ performance.”
Foreign investors bought shares worth Rs. 95.6 million, extending the offshore net foreign inflow to Rs. 2.31 billion so far this year, after a net outflow of Rs. 19.1 billion last year.
The day’s turnover was Rs. 403.2 million and the volume was 15 million, the lowest levels since early January.
The oil palms sector led the way down with a 14.7 per cent loss in Selinsing PLC.
The Colombo Bourse is one of the worst performers this year among Asian markets, with a 9.96 per cent loss while the majority has had positive returns.
http://www.ft.lk/2012/03/03/bourse-back-to-double-digit-dip/
