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The Colombo bourse tumbled sharply yesterday on a low turnover of Rs.565 million, down from the previous day’s Rs.3.48 billion, with the All Share Price Index losing 54.17 points (0.90%) and S&P SL20 down 25.57 points (0.73%) with 163 losers strongly outpacing 52 gainers while 97 counters closed flat.
Brokers expressed disappointment at the market’s performance a day after a mega deal in John Keells Holdings, expected to announce a major Colombo city development project in the short-term. They noted that Thursday’s deal had not revived flagging investor sentiment.
Foreign purchases amounted to Rs. 221.13 million, leading to a net inflow of Rs. 167.51 million.
"Despite technical projections to the contrary, the market is crashing below resistance levels and may well be down to the 6,000 point barrier in the short-term unless a correction takes place," a broker said. "Volumes too are pretty low these days."
Turnover yesterday was supported by block trades in Sampath Bank, HNB and Distilleries contributing Rs.147.7 million to turnover.
There were three block trades in Distilleries – three parcels of 104,000 shares each - done at Rs.193 contributing Rs.60.2 million to turnover. Sampath saw a single crossing of nearly 0.3 million shares at a price of Rs.200 contributing Rs.55.1 million to turnover and HNB a single crossing of 200,000 shares at Rs.162 contributing Rs.32. million to turnover.
On the trading floor Distilleries closed a rupee down at Rs.191.90 on nearly 0.2 million shares done between Rs.190 and Rs.193 while Sampath closed Rs.5.90 down at Rs.202.20 on nearly 0.2 million shares done between Rs.201.10 and Rs.208 contributing Rs.31.1 million to turnover.
NDB was the biggest turnover generator on the floor closing Rs.2.50 up at Rs.168 on nearly 0.3 million shares done between Rs.163 and Rs.168 contributing Rs.41.5 million to turnover.
JKH was down Rs.4.50 to close at Rs.265 on slightly over 0.1 million shares done between Rs.265 and Rs.269 generating a turnover of Rs.31.9 million.
In volume terms, over 1.5 million Nanda Investments closed 10 cents up at Rs.8.50 while 2.1 million People’s Leasing closed flat at Rs.124.90 and over 0.2 million LOLC closed flat at Rs.60.
http://island.lk/index.php?page_cat=article-details&page=article-details&code_title=81815
Brokers expressed disappointment at the market’s performance a day after a mega deal in John Keells Holdings, expected to announce a major Colombo city development project in the short-term. They noted that Thursday’s deal had not revived flagging investor sentiment.
Foreign purchases amounted to Rs. 221.13 million, leading to a net inflow of Rs. 167.51 million.
"Despite technical projections to the contrary, the market is crashing below resistance levels and may well be down to the 6,000 point barrier in the short-term unless a correction takes place," a broker said. "Volumes too are pretty low these days."
Turnover yesterday was supported by block trades in Sampath Bank, HNB and Distilleries contributing Rs.147.7 million to turnover.
There were three block trades in Distilleries – three parcels of 104,000 shares each - done at Rs.193 contributing Rs.60.2 million to turnover. Sampath saw a single crossing of nearly 0.3 million shares at a price of Rs.200 contributing Rs.55.1 million to turnover and HNB a single crossing of 200,000 shares at Rs.162 contributing Rs.32. million to turnover.
On the trading floor Distilleries closed a rupee down at Rs.191.90 on nearly 0.2 million shares done between Rs.190 and Rs.193 while Sampath closed Rs.5.90 down at Rs.202.20 on nearly 0.2 million shares done between Rs.201.10 and Rs.208 contributing Rs.31.1 million to turnover.
NDB was the biggest turnover generator on the floor closing Rs.2.50 up at Rs.168 on nearly 0.3 million shares done between Rs.163 and Rs.168 contributing Rs.41.5 million to turnover.
JKH was down Rs.4.50 to close at Rs.265 on slightly over 0.1 million shares done between Rs.265 and Rs.269 generating a turnover of Rs.31.9 million.
In volume terms, over 1.5 million Nanda Investments closed 10 cents up at Rs.8.50 while 2.1 million People’s Leasing closed flat at Rs.124.90 and over 0.2 million LOLC closed flat at Rs.60.
http://island.lk/index.php?page_cat=article-details&page=article-details&code_title=81815
