The Colombo bourse continued to plunge yesterday for the third consecutive day although turnover of Rs.1.56 billion, up from the previous day’s Rs.272.46 million, was posted thanks to several block trades in JKH, HNB, Chevron, Asiri Hospital Holdings and ERI warrants W0003 and W0006.
The All Share Price index lost 73.35 points (1.35%), the Milanka was down 79.55 points (1.59%) and S&P dipped 40.77 points (1.36%) with 160 losers strongly outpacing 57 gainers while 94 counters closed flat.
"Further selling pressure continued to drag the indices sharply lower, while activity levels crossed the Rs. 1bn threshold on the back of crossings on JKH, ASIR, GREG, HNB, and LLUB, which were mostly led by foreign participation," John Keells Stockbrokers said.
Foreign purchases amounted to Rs. 1,374.75 million resulting in a net inflow of Rs. 425.47 million.
JKH saw nearly 1.6 million shares crossed in three parcels at a price of Rs.215 in deals worth Rs.333.7 million. HNB (voting) saw 1.9 million shares crossed at Rs.145 in three parcels in deals worth Rs.276.9 million while Chevron saw two crossings of nearly 0.3 million shares at Rs.198 yielding Rs.58.4 million business volume; and Asiri a single crossing of nearly 2.2 million shares at Rs.11.40 yielding Rs.25.1 million.
Seventy million ERI warrants of the two maturities changed hands at Rs.4.20 and Rs.4.50 generating Rs.294 million and Rs.315 million turnover.
Apart from these block trades which generated the lion’s share of yesterday’s business volumes, Aitken Spence saw slightly over 0.5 million shares traded on the floor closing Rs.7 down at Rs.118 trading between Rs.117 and Rs.124 contributing Rs.60.5 million to the day’s turnover.
Other stocks that contributed were Carsons closing 10 cents up at Rs.450.10 on 26,080 shares traded between Rs.450 and Rs.452 generating Rs.11.7 million turnover and JKH closing Rs.2 down at Rs.212 on 44,349 shares done on the floor between Rs.209 and Rs.214 contributing Rs.9.4 million.
Other most traded stocks were LIOC closing 40 cents down at Rs.19 on nearly 0.4 million shares contributing Rs.7.2 million turnover, Nation Lanka Finance closing 10 cents down at Rs.9 on nearly 0.8 million shares contributing 7.1 million and Commercial Bank (voting) down Rs.1.50 at Rs.101 on 62,385 shares contributing Rs.6.3 million.
NDB closed Rs.1.60 up at Rs.132.70 on 45,510 shares contributing Rs.6 million to the day’s business volume.
Brokers said there was a little retail activity on trading and speculative stock.