Negative start at Bourse in new week

Tuesday, 18 December 2012 00:24 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday opened the week on a negative note, with the main market indices sliding further.

SC Securities said the benchmark index, the All Share Price Index (ASPI), dropped 0.35% (19.21 points) over last Friday’s close and ended the day at 5,503.51 points, whilst the Milanka Price Index (MPI) shed 0.66% (33.30 points) to end at 5,011.90 points. The S&P SL 20 Index (S&P) closed the day at 3,009.44 points losing 0.44% (13.35 points).Market turnover for the day was Rs. 532.88 million. Lanka Securities said indices closed in negative territory as losses on many blue chips didn’t help the cause. “Retail participation was subdued ahead of the seasonal spending period,” it added. The top five turnover generators for the day were Environmental Resources Investments Plc (GREG), Chevron Lubricants Lanka Plc (LLUB), Commercial Bank of Ceylon Plc (COMB), Asiri Surgical Hospital Plc (AMSL), and Ceylon Tobacco Company Plc (CTC).

The top five turnover contributors accounted for around 79% of the total market turnover.

Notable gainers for the day were Namunukula Plantations up by 12.2% to close at Rs. 79.80, Blue Diamonds non-voting up by 5.9% to close at Rs. 1.80, and Seylan Bank up by 2.5% to close at Rs. 57.

Notable losers for the day were Softlogic Finance down by 6.6% to close at Rs. 24, Hemas Holdings down by 3.7% to close at Rs. 26, and E-Channeling down by 3.5% to close at Rs. 5.50.

GREG was the highest turnover generator for the day as the counter witnessed a solitary off the floor block trade during the day. A volume of 13.46 million shares traded at a price of Rs. 15, generating a turnover of Rs. 201.93 million. The counter traded at a low of Rs. 14.40 and a high of Rs. 15.10 before ending the day at Rs. 14.50, down by 3.33% over Friday.

LLUB generated a total turnover of Rs. 109.24 million over a volume of 546,000 shares, out of which a 251,000 shares changed hands through a crossing at a price of Rs. 200 each. The counter ended the day at Rs. 199.90, up by 1.2% or Rs. 2.40.

COMB was associated with three off the market trades at a uniform price of Rs. 102, generating a turnover of Rs. 76.48 million. COMB traded at a low of Rs. 101.20 and a high of Rs. 103.60 before closing at Rs. 101.40.

Foreigners ended the day as net buyers with foreign purchases worth of Rs. 397.48 million against foreign sales worth of Rs. 295.02 million, resulting in a net inflow of Rs. 102.46 million.