During the week the All Share Price Index (ASPI) gained 39.13 points to close at 7,711.62 points, while the Milanka Price Index (MPI) declined by 72.81 points to close at 7,169.35 points. The daily average turnover was SLRs. 2.5bn compared to SLRs. 3.2bn last week and the week ended with foreign buying amounting to SLRs. 934mn whilst foreign selling was SLRs.1.8 bn.
Indices edged down on Monday as retail investors booked profits after the recent rally. ASPI closed down 55.3 points while MPI declined marginally by 2.84 points with a total turnover of SLRs.2.2bn. Biggest contribution to the turnover was made by Brown & Company with more than 500,000 shares trading between SLRs.290.00 and SLRs.308.00. Commercial Bank posted a turnover of SLRs.141mn which included a crossing of 185,000 shares at SLRs.277.00 while a crossing of 950,000 shares at SLRs.55.00 of Kelani Tyres took the counters' total turnover to SLRs.135mn.
Market slumped further on Tuesday as ASPI lost 102.45 points while MPI closed down 78.94 points. Total turnover for the day amounted to SLRs. 2.1bn to which the biggest contributions came from the conglomerates Aitken Spence and John Keells Holdings. Aitken Spence topped the list with a turnover of SLRs.198mn which included three crossings amounting to 778,000 shares at SLRs.710.00. John Keels Holdings posted a turnover of SLRs.176mn which included three crossings of 100,000 shares each at SLRs.292.00.
On Wednesday the indices recovered as both ASPI and MPI closed up 34.12 points and 20.75 points respectively with a total turnover of SLRs.2.4bn. John Keells Holdings posted the day's largest turnover of SLRs.319mn with more than 1mn shares traded. This included five crossing totaling to 781,600 shares at SLRs.291.00 while two crossings amounting to 257,000 shares of Cargills (Ceylon) PLC at SLRs.234.00 took the counters total turnover to SLRs.149mn. Laugfs Gas also made a significant contribution with approximately 2.6mn shares traded as the counter closed up 8% at SLRs.51.30.
Indices moved in the opposite directions on Thursday as ASPI closed up 35.56 points while MPI closed down marginally by 5.07 points with a total turnover of SLRs.2.8bn. Primal Glass Ceylon PLC was highlighted as the most heavily traded counter as well as the counter with the highest contribution to the day's turnover as approximately 22mn shares were traded generating a turnover of SLRs.224mn, while the counter closed up 7.37% at SLRs.10.20. John Keells Holdings posted a turnover of SLRs.197mn which included two crossings amounting to 317,300 shares at SLRs.292.00. Sampath Bank and Lanka Walltile PLC also made significant contributions as the two counters posted turnovers of SLRs.179mn and SLRs.167mn respectively.
Market surged on Friday as the regulators eased the rules regarding the price bands imposed on shares using an undisclosed formula. ASPI gained 128.20 points while more liquid MPI declined marginally by 6.71 points. Total turnover for the day amounted to SLRs.3bn with Primal Glass Ceylon PLC making the highest contribution for the second consecutive day with a the counter posting a turnover of SLRs.186mn. Sampath Bank generated a turnover of SLRs.176mn which included two crossing amounting to 295,000 shares at SLRs.291.50 and another crossing of 200,000 shares at SLRs.300.00. Environmental Resources Investments PLC also made a significant contribution to the day's turnover as over 1.8mn shares were traded generating a turnover of SLRs.173mn while the counter closed up SLRs.2.70 at SLRs.91.00.
As per the Directive issued by the Securities and Exchange Commission of Sri Lanka, with effect from 1st of March 2011, the period for which the price band is applicable has been reduced to 10 business days from the earlier applicable period of 15 business days.
Further the requirement for a 50% up front cash deposit prior to purchases of securities under the price band has also been lifted.
source - www.dailymirror.lk
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