Aug 21, 2013 (LBT) - Index falls over 100 points: The market suffered a severe dip as the ASPI declined a massive 107 points led by the large cap counters Nestle (-8.0%), Ceylon Tobacco (-5.1%) and John Keells Holdings (-3.8%). The dip in the index was the largest single day drop since 11th June 2012. With the 3 counters being a major part of the S&P SL20, the index followed a similar drop of 60 points.
SAMP dominated crossings board: 12 crossings were recorded for the day with 9 crossings in Sampath Bank which accounted for 50% of the day’s turnover. The 9 crossings amounted to 2.5mn shares at LKR190.0. The counter was active on-board as well with a further volume of 183k shares, but closed on a negative note at LKR189.2 (-0.9%). Textured Jersey, John Keells Holdings and Access Engineering also recorded 1 crossing each.
Investor interest in banking, JKH and DIST: John Keells Holdings in addition to the crossing saw on-board interest as well with 181k shares changing hands. Heavy selling pressure led the counter to dip as much as 3.8% taking the counter below LKR250.0 to close at LKR249.4. Two large on-board blocks of 100k and 89k shares of Distilleries were note at LKR192.0. Among banking counters, Union Bank, Sampath Bank, Commercial Bank and Hatton National Bank registered investor attention.
Moderate retail activity: The weak market sentiment is keeping retailers on the sidelines. However moderate activity was noted in selected counters led by Union Bank, Expolanka Holdings and Vallibel One.