During the week the All Share Price Index (ASPI) declined by 183.93points to close at 6,381.07points, while the Milanka Price Index (MPI) also declined by 162.78 points to close at 6,952.65points. The daily average turnover was SLRs1.6bn compared to SLRs.1.8bn last week and the week ended with foreign buying amounting to SLRs.2.3bn whilst foreign selling was SLRs.1.7bn.
On Monday, both ASPI and MPI dropped by 49.20 and 37.49 points respectively. Total turnover for the day reached Rs.1.4billion with JKH contributing with a turnover of SLRs.447mn which included several crossings amounting to 1.5mn shares at SLRs.300.00. SMB Leasing, the most heavily traded counter for the day closed up16.67% at SLRs.1.40.
On Tuesday, the announcement of the 2011 budget proposals which were aimed at rapid economic growth and development of the country failed to lift the market as both ASPI and MPI declined by 61.61points and 97.55 points respectively. Commercial Bank generated the largest turnover for the day of SLRs.182mn with the share closing at SLRs.270.00. Sampath Bank contributed with a turnover of SLRs.163mn which included a crossing of 200,000shares at SLRs.267.00 while the retail favourites, Voting and Non Voting shares of SMB leasing continued to be actively traded. Total turnover for the day amounted to SLRs.1.2bn.
Indices closed up marginally on Wednesday with ASPI gaining 7.94 points while MPI edged up by 18.80 points. Total turnover amounted to SLRs.2.4 with JKH, Cargills (Ceylon) and Commercial Bank being the biggest contributors. JKH posted a turnover of SLRs.661mn which included two crossing amounting to approximately 2.2mn shares at SLRs.300.00 while the turnover generated by Cargills (Ceylon) amounted to SLRs.395mn which included two crossings of 1mn shares each at SLRs.195.00.
Hydro Power Free Lanka commenced trading on Thursday at a price of SLRs.15.50 with a total of 22.2mn shares traded between a price range of SLRs.15.00 and SLRs.16.00. the counter generated the day's largest turnover of SLRs.346mn.. SMB Leasing warrants also commenced trading during the day with the two warrants attached to voting and non voting shares opened at SLRs.0.40 and SLRs.0.20 respectively. Total turnover for the day amounted to SLRs.1.4 with ASPI closing down 48.80 points while more liquid MPI lost 54.13points.
Friday's total turnover of SLRs.1.7bn was dominated by JKH which posted a turnover of SLRs.701mn. This included a crossing of 2mn shares at SLRs.301.00 while the counter closed up SLRs.1.20 at SLRs.295.00. Brown & Company generated a turnover of SLRs.371mn which included a crossing of 1,307,700 shares at SLRs.260.00. Indices moved in the different directions with ASPI closing down 32.25points while MPI moved up marginally to close up by 7.59points.
According to the technical charts the indices are still languishing between the middle and lower Bollinger Bands as the gloomy market mood continues. RSI's of ASPI & MPI daily charts which fell to 40 levels are now edging towards the upper 30's due the oversold position of the market.
source - www.dailymirror.lk
No comments:
Post a Comment