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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Market dips a little further

Market dips a little further

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1Market dips a little further Empty Market dips a little further Wed Jul 04, 2012 6:08 pm

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Written by The Nation

The All Share Price Index dipped marginally to close at 4,946.6 (-0.1%), whilst the more liquid Milanka Price Index also dipped 31.1 to close at 4,373.1 (-0.7%). Further the S&P SL20 Index which was recently introduced remained stagnant during the day to close at 2,809.3 (0.0%).

The total turnover was LKR377.9 mn (USD2,826.5k) vs. 12-month average daily turnover of LKR1,381.4 mn (USD10,332.1k) whilst the volume traded for the day was 14,278.2k against the 12-month average daily volume of 61,563.5k.

Top traded counters were John Keells Holdings LKR115.1 mn (USD860.9k, +0.3%), Commercial Bank of Ceylon (Non-Voting) LKR69.2 mn (USD517.6k, -0.6%), Nestle Lanka LKR56.9 mn (USD425.6k, +3.8%), Aitken Spence LKR15.0 mn (USD112.2k, +0.5%) and Beruwala Resorts LKR13.8 mn (USD103.2k, -12.5%).

Colombo bourse continued its dwindling sentiments where all three indices observed a downward trend to close the day in the red. Index heavy John Keells Holdings emerged as the top trader for the day on the back of institutional and high networth investor appetite and the counter contributed for near 30% of day’s turnover. Meanwhile the counter saw two parcels of off the floor transactions totaling to 490.5k shares aided by foreign participation. Revitalized institutional and high networth investor activity was seen in Commercial Bank of Ceylon (Non-Voting) and Aitken Spence whilst the former witnessed a parcel of near 4.3 mn shares changing hands during the day. In addition, Food and Beverage sector giant Nestle Lanka witnessed foreign participation. Further, market debutant Beruwala Resorts saw a morning rally coupled with some hefty widespread trading before closing the day with price depreciation.

Net inflow of foreign funds was seen during the day, where foreign purchases amounted to LKR279.2 mn (USD2,088.3k), whilst foreign sales amounted to LKR115.2 mn (USD861.6k).
http://forum.srilankaequity.com/t19759-sri-lanka-melstacorp-to-comply-sec-ruling-on-take-over-code

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