The downturn on the Colombo bourse gathered steam yesterday with brokers attributing the sharper dip than on Tuesday to profit taking by the retail segment of the market.
The All Share Price Index was down 128.39 points (1.84%) while the Milanka lost 158.98 points (2.07%) on a turnover of Rs.2.7 billion, down from the previous day’s Rs.3.96 billion, with HNB and JKH continuing to generate the highest turnover.
HNB saw nearly 1.4 million shares traded between Rs.404 and Rs.414 losing Rs.1.70 to close at Rs.406.90 while JKH was down Rs.8.10 to close at Rs.330 on over 0.9 million shares done between Rs.329 and Rs.342.
"Most of the HNB trades were done on crossings at a price of Rs.410 although the counter closed at a lower level," Prashan Fernando of Acuity Stockbrokers said.
Retail activity was focused on Colombo Land, PC House, Dockyard, Sierra and Seylan Merchant Bank.
The NDB Bank edged up marginally by 10 cents to Rs.391.50 on over 0.3 million shares done between Rs.390 and Rs.405 with the bulk of the trades done at Rs.400.
Colombo Land saw 5 million shares done, gaining Rs.1.60 to close at Rs.25.10 on a trading range of Rs.24.50 to Rs.26.50 while PC House was up 10 cents to Rs.11 on over 8.8 million shares done between Rs.10.60 and Rs.11.10.
Dockyard continued to gain, up Rs.5.60 to close at Rs.302 on nearly 0.3 million shares.
Strong volumes were shown by Nawaloka which dipped 30 cents to Rs.9 on 6.7 million shares, Dialog, down 50 cents to Rs.13 on nearly 3 million shares and Vallibel closing flat at Rs.12 on nearly 2 million shares.
source - www.island.lk
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