The Colombo bourse was back in its losing mode at close of trading yesterday after six straight days of gains although the Milanka Price Index, particularly, was in the green during intraday trading, brokers said.
Turnover stood at Rs.529.5 million, down from the previous day’s Rs.616.7 million, at close of business yesterday with both indices down – the All Share by 35.99 points (0.71%) and the Milanka by 38.78 points (0.85%) with 155 losers comfortably ahead of 73 gainers.
Block trades of 242,743 Aiken Spence at Rs.110.60 in a deal worth Rs.26.8 million and 400,000 Distilleries at Rs.130 generating Rs.52 million supported turnover.
"The turnover was fairly alright for the lean times we are seeing now and there was sufficient buying on the market to absorb the selling," a broker said. "Retailers were active in some stocks while high net worth investors and institutions were selectively picking counters with strong fundamentals."
The day’s biggest turnover generator was JKH which closed Rs.2 up at Rs.196 generating a turnover of Rs.56.1 million trading between Rs.194 and Rs.197.
Dialog saw buying interest with over 6.4 million shares done between Rs.6.10 and Rs.6.30 closing 10 cents up at Rs.6.20 contributing a turnover of nearly Rs.40 million which was the second highest for the day.
There was play on less pricey stocks like HVA, PC House, PC Pharma and Ramboda Falls with HVA losing 60 cents to close at Rs.13.30 on over 2.3 million shares done between Rs.13 and Rs.14.10, PC House down 40 cents to close at Rs.6.90 on 3.5 million shares done between Rs.6.80 and Rs.7.50 and PC Pharma down Rs.1.50 to close at Rs.13.30 on nearly 1.3 million shares done between Rs.13.30 and Rs.15.
Hemas Holdings closed 30 cents up at Rs.22.50 on 19.3 million shares done between Rs.22.40 and Rs.23.90.
Ramboda Falls dropped Rs.8.60 to Rs.23 on nearly 0.4 million shares done between Rs.22.50 and Rs.30 while Touchwood was down 20 cents to close at Rs.15.20 on 0.6 million shares done between Rs.14.90 and Rs.15.30.
The Colombo Stock Exchange announced that Fern Tea had been de-listed with effect from yesterday with the joint liquidators of the company informing the Exchange that they have reached the final stage of the winding up process and requesting appropriate measures to de-list. The SEC had approved the de-listing.
Trading of this counter had been suspended since December 19, 2008 on the order of the District Court of Colombo for winding up the company.