"Trading was totally lackluster with no crossings or block trades unlike the previous day to help turnover," a broker said. "Retail activity was not very much in evidence."
"The indices trended lower on the back of sharp drops in a few large caps, including the two listed telco operators. Subdued activity levels were dominated by JKH, COMB (voting and nonvoting), and LLUB, which collectively accounted for over 50% of market turnover," John Keells Stockbrokers said.
Foreign purchases amounted to Rs. 132.01 million, resulting in a net inflow of Rs. 97.69 million.
Commercial Bank (non-voting) was the day’s biggest business generator with nearly 0.7 million shares done between Rs.90 and Rs.95 closing Rs.2 up at Rs.92 and generating a turnover of Rs.62.2 million.
Brokers said that some big parcels were transacted at Rs.95 with the rest of the trades being done closer to Rs.90.
JKH which ranked number two in terms of turnover was down 50 cents to close at Rs.207.50 trading between Rs.207.10 and Rs.209 generating Rs.43.1 million business volume.
Chevron closed Rs.3 down at Rs.197 with over 0.1 million shares done between Rs.197 and Rs.200 contributing Rs.29.1 million turnover while Commercial Bank (voting) closed Rs.1.10 down at Rs.104 trading between Rs.104 and Rs.106 contributing Rs.19.2 million to the day’s business volume.
Asian Hotels (nearly 0.2 million shares) closing flat at Rs.77, NDB up a rupee to close at Rs.134 on 61,924 shares and Central Finance down 40 cents to close at Rs.166 on 26,290 shares were among the blue chips that were in the most traded list.