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ASPI trended down with sharp pull backs

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sriranga

sriranga
Co-Admin

COLOMBO, Nov 4 (Reuters) - Sri Lankan stocks fell on Monday to their lowest closing in nearly a week, led by Asian Hotels and Properties PLC with the day's trading volume slumping to a three-week low, which stockbrokers attributed to lack of retail investor participation.

The main index ended down 0.45 percent, or 26.95 points, at 5,927.41, its lowest close since Oct. 29.

Dealers said the market would not see a sustained gaining trend unless retail investors return to the bourse. The market has lost 0.42 percent since the central bank cut its key policy rates by 50 basis points on Oct. 15.

Shares in Asian Hotels and Properties fell 5.63 percent to 70.30 rupees.

The day's turnover slumped to 419.3 million rupees ($3.20 million), the lowest since Oct. 14 and less than half of this year's daily average of about 868 million rupees.

Foreign investors were net buyers of 10.2 million rupees worth of shares, extending the net buying so far this year to 23.27 billion rupees.

($1 = 131.0250 Sri Lanka rupees)

(Reporting by Shihar Aneez; Editing by Subhranshu Sahu)

(shihar.aneez@thomsonreuters.com)(+94-11-232-5540)

(Reuters Messaging: shihar.aneez.thomsonreuters.com@reuters.net)(twitter.com/shihara neez)
http://www.xe.com/news/2013/11/04/3640201.htm?c=1&t=

http://sharemarket-srilanka.blogspot.co.uk/

2ASPI trended down with sharp pull backs Empty ASPI trended down with sharp pull backs Mon Nov 04, 2013 7:24 pm

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

MONDAY, 04 NOVEMBER 2013 18:11 WRITTEN BY THARANGA SENARATNE

Nov 04, 2013 (LBT) - Indices traded on a downward trend: The bourse traded on a downward trend today with sharp pull backs in between. ASPI closed at 5,927.41 with a dip of 26 points. Losses denoted in Commercial Leasing and Finance (-7.3%), Sri Lanka Telecom (-2.3%) and Asian Hotels and Properties (-5.6%) weighted negatively on the index performance. S&PSL20 too dipped with 6 points and ended at 3,274.31.

JKH and EXPO attracted off-board interest: John Keells Holdings topped the turnover list with a single off-board transaction of 170k share crossing at LKR225.0. The counter denoted some on-board interest mainly supported by the single 41k trade at LKR225.0 and closed at LKR225.0 with a gain of 0.04%. Expolanka Holdings too recorded off-board interest with a single 2.9mn share block which changed hands at LKR7.2. The counter witnessed notable on-board interest and closed with an intra-day gain of 2.7% at LKR7.5.

On board interest in BFI sector: BFI sector dominated the on-board activity during trading hours. Commercial Bank of Ceylon fore- fronted the on-board activity backed by three trades which amounted to 276k shares at LKR117.5. COMB settled at LKR117.5 with a dip of 0.4%. Lanka Orix Leasing Company too displayed active investor interest with several large trades executed on-board and ended at LKR65.0 with a gain of 6.6%.

Retail investor interest was concentrated on selected counters: Retail investor interest was low and concentrated on Lanka Century Investments and Dankotuwa Porcelain.
www.lbt.lk

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