The Colombo Stock Market saw directors and or related parties mostly selling smaller stakes in several companies last week.

 Some of the selling was to cash in the market’s gain, whilst others were increasing liquidity of the shares.

Lanka Commodity Brokers Ltd. also sold four million shares in Asia Siyaka Commodities PLC. During the week, 67.7 million shares (over 25% stake) of Asia Siyaka changed hands for Rs. 268.7 million via 3,215 trades. The share hit a new 52-week high of Rs. 4.50 last week, before closing at Rs. 3.40, up 20 cents. In the previous week, 15.3 million shares of Asia Siyaka traded for Rs. 47 million.

Panasian Power (PAP) also saw heavy selling by high-net-worth individual investor/shareholder Director Dr. T. Senthilverl, who sold nearly 50 million shares, whilst other major shareholder Dilanka Jinadasa bought nearly 100,000 shares. Overall PAP saw 239 million of its shares traded for Rs. 1 billion, and it hit a new 52-week high of Rs. 5, before closing at Rs. 3.90, up 20 cents. 

Prime Lands, which owns 94.6% of Prime Finance, continued to sell small stakes.

Among companies which reported dealings by directors were The Colombo Fort Land and Building, Renuka Agri Foods, Alumex, Sigiriya Village Hotels, Swisstek, CT Holdings, Peoples’ Leasing, Vidullanka, and Unisyst Engineering PLC.

Colombo stock market eyes new record in 2020