The Colombo bourse continued its downward trend yesterday with both indices marginally down – the All Share by 15.14 points (0.21%) and the Milanka by 5.62 points (0.08%) on a low turnover of Rs.1.18 billion, down from the previous day’s Rs.3.2 billion, with Central Finance continuing its upward roll and Union Bank losing some ground.
Central Finance was the day’s highest turnover generator with over 0.1 million shares done between Rs.1,140 and Rs.1,220 gaining Rs.74.10 to close at Rs.1,210 contributing Rs.158.7 million to the business volume.
Brokers said that there was speculation of a share split which has been taking the counter up for the past several days. The share was yesterday’s highest gainer, they noted.
Union Bank continued to show volume with over 3.3 million shares done between Rs.34.50 and Rs.40 losing Rs.2.70 to close at Rs.35.90.
Brokers said that most of yesterday’s trading in Central Finance was retail driven with retailers also active in Royal Ceramics, Laugfs, Colombo Pharmacy and Watapota (Guardian Capital Partners).
HNB X with over 0.5 million shares traded was down 40 cents to close at Rs.209 trading between Rs.208.50 and Rs.210 while Royal Ceramics was down 80 cents on nearly 0.3 million shares done between Rs.155 and Rs.157.50 to close at Rs.155.20.
Laugfs X was down Rs.2.10 to close at Rs.34.60 on 1.1 million shares done between Rs.34 and Rs.36.70 while Colombo Pharmacy lost Rs.50.80 to close at Rs.3,400 on 10,200 shares.
Watapota was up yesterday by Rs.24 to close at Rs.264.20 on over 0.1 million shares traded between Rs.225.70 and Rs.264.20.
NDB and Piramal Glass were also losers, the NDB down Rs.1.60 to Rs.344 on 7,650 shares and Piramal down 20 cents to Rs.11 on 2.1 million shares.
Melstacorp (Pvt) Ltd, a subsidiary of Distilleries Company, announced its mandatory offer at a price of Rs.27.50 for 52.98% of Pelawatte Sugar not already owned by it.
source - www.island.lk
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