Trading was slow on the Colombo Stock Exchange yesterday although turnover picked up from Monday’s recent low of Rs.91.64 million with retail activity subdued but with some strategic purchasing in strong companies, brokers said.
A turnover of Rs.378 million was posted, up from the previous day’s Rs.91.64 million, with all three indices down – the All Share by 17.77 points (0.36%), the Milanka by 36.46 points (0.83%) and S&P by 1.06 points (0.04%) with 67 gainers comfortably outpaced by 113 losers.
Crossings of nearly 0.7 million Commercial Bank (non-voting) at Rs.74, the previous closing level, in a deal worth Rs.51 million and nearly 0.5 million JKH at Rs.185 contributing Rs.90.7 million to the day’s business volume together with 47,525 Nestle traded on the floor between Rs.1,125 and Rs.1,200 contributing a turnover of Rs.57 million supported the day’s business volume. Nestle closed Rs.42.30 up at Rs.1,150.
Apart from the crossings, 0.1 million JKH also traded on the floor between Rs.184.10 and Rs.189.90 closing 50 cents up at Rs.185.40 contributing a further Rs.24.4 million to turnover.
Similarly, over 0.2 million Commercial Bank (X)was done on the floor, closing 50 cents down at Rs.73.50 trading between Rs.73 and Rs.74 contributing a turnover of Rs.18.2 million.
Other gainers among the most traded stock were Aitken Spence up 60 cents to close at Rs.115.50 on over 0.1 million shares, Royal Ceramics up Rs.2.70 to close at Rs.93 on 48,053 shares and Aitken Spence Hotels up 10 cents to close et Rs.66 on over 0.1 million shares.