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Anticipating a reply to the brokers plea for relief for a section of
the investing public, the Colombo market changed course and gradually
slipped into negative territory, on a reduced trunover. The usual forced
selling being one of the causes in addition to some quick profit
taking. The general belief is that some form of relief would be given
which will halt the serious downward course at the bourse.
Although market conditions were on the dull
side, Eastern Merchants was able to lift the spirits at the bourse with
its mind-boggling announcement of the sub-division of one share into 70.
This share went into orbit immediately, escalating to Rs 2002.40 on
Thursday and improving further the next day to Rs 3110.
There was an announcement of a sub-division by
Onally Holdings in which there was a mild upside.It closed for the week
at Rs. 95. Orient Garments fitted into the expansion plans of PC House
when it took control on August 1 also giving a boost to the das
turnover of Rs 3.5 billion.
Certain stocks in the Land and Property sector
like East West Properties and Seylan Developments (earlier CSD) evoked
unusual interest, which also witnessed an increase in price levels.
There was also heightened activity in the former. Blue Diamonds which
produced a substantial profit for e-Channelling, Panasian Power,Vallibel
One and Free Lanka Holdings were in the basket of heavily traded
stocks. Among the recent IPOs, SoftLogic Holdings Expolanka and Free
Lanka Capital still remain in the discomfort region.
In the high priced category, E B Creasy was at
Rs 1799.90 while Colombo Pharmacy dipped down to Rs1659.70 and J L
Morisons & Jones down to Rs 3775.
There were many questions asked when a price
band was imposed for two days on Ceylon Leather Products Warrants W 00
12. The warrants was trading at Rs 1.90 and shareholders were informed
that the cut-off date was 4th August 2011.
Price bands were imposed on East West
Properties, Orient Garments and Three Acre Farms from August 2 to 8.
Changes in directorates were seen in Lankem
Developments where veteran professional Chrisantha Perera was appointed
an Independent Non Executive Director; at Haycarb – Dhammika Perera and
Dr S A K Abayawardana were appointed Independent Non Executive
Directors. At Hayleys Exports, G M P de Silva was appointed Managing
Director while J A W M Jayasekara was appointed Executive Director.
At National Development Bank, Hemaka
Amarasuriya was appointed Chairman with Ashok Pathirage as Deputy
Chairman.
The turnover for the week of Rs 8.6 billion was
lower than last week’s Rs.9.7 billion. Both indices were depressed in
comparison to last week with the All share Price Index at 94.09 points
or 0.13% lower at 6751.29 while the Milanka was 57.84 points or 0.9%
lower at 6152.23.
the investing public, the Colombo market changed course and gradually
slipped into negative territory, on a reduced trunover. The usual forced
selling being one of the causes in addition to some quick profit
taking. The general belief is that some form of relief would be given
which will halt the serious downward course at the bourse.
Although market conditions were on the dull
side, Eastern Merchants was able to lift the spirits at the bourse with
its mind-boggling announcement of the sub-division of one share into 70.
This share went into orbit immediately, escalating to Rs 2002.40 on
Thursday and improving further the next day to Rs 3110.
There was an announcement of a sub-division by
Onally Holdings in which there was a mild upside.It closed for the week
at Rs. 95. Orient Garments fitted into the expansion plans of PC House
when it took control on August 1 also giving a boost to the das
turnover of Rs 3.5 billion.
Certain stocks in the Land and Property sector
like East West Properties and Seylan Developments (earlier CSD) evoked
unusual interest, which also witnessed an increase in price levels.
There was also heightened activity in the former. Blue Diamonds which
produced a substantial profit for e-Channelling, Panasian Power,Vallibel
One and Free Lanka Holdings were in the basket of heavily traded
stocks. Among the recent IPOs, SoftLogic Holdings Expolanka and Free
Lanka Capital still remain in the discomfort region.
In the high priced category, E B Creasy was at
Rs 1799.90 while Colombo Pharmacy dipped down to Rs1659.70 and J L
Morisons & Jones down to Rs 3775.
There were many questions asked when a price
band was imposed for two days on Ceylon Leather Products Warrants W 00
12. The warrants was trading at Rs 1.90 and shareholders were informed
that the cut-off date was 4th August 2011.
Price bands were imposed on East West
Properties, Orient Garments and Three Acre Farms from August 2 to 8.
Changes in directorates were seen in Lankem
Developments where veteran professional Chrisantha Perera was appointed
an Independent Non Executive Director; at Haycarb – Dhammika Perera and
Dr S A K Abayawardana were appointed Independent Non Executive
Directors. At Hayleys Exports, G M P de Silva was appointed Managing
Director while J A W M Jayasekara was appointed Executive Director.
At National Development Bank, Hemaka
Amarasuriya was appointed Chairman with Ashok Pathirage as Deputy
Chairman.
The turnover for the week of Rs 8.6 billion was
lower than last week’s Rs.9.7 billion. Both indices were depressed in
comparison to last week with the All share Price Index at 94.09 points
or 0.13% lower at 6751.29 while the Milanka was 57.84 points or 0.9%
lower at 6152.23.
