The Colombo bourse closed marginally down yesterday on a sluggish market with many players still on a holiday mode and with investors holding funds for forthcoming IPOs, brokers said.
The All Share Price Index closed virtually flat losing a fraction of a point (0.66 points) while the Milanka edged down 7.63 points (0.11%) with 107 losers ahead of 85 gainers and the turnover a disappointing Rs.1.9 billion, up from the previous day’s Rs.1.4 billion.
"There were a variety of factors contributing to the sluggish market – a lingering holiday mode, impending IPOs and the failure of Free Lanka Capital Holdings to perform as expected tying up cash," a broker said asking not to be identified.
"Given the previous day’s sharp downturn, the market closed virtually flat,’’ he noted.
Aitken Spence which gained Rs.2.40 to close at Rs.167 trading between Rs.165.50 and Rs.169 generated the day’s highest turnover of Rs.167.1 million.
"There was no word on buyers and sellers but it was speculated that the EPF which bought a million shares on Tuesday had been on the buying side," a broker said noting that a million Spence had been crossed at Rs.165.50.
The other two big turnover generators were Spence Hotels where nearly 1.5 million shares were done closing Rs.2.80 down at Rs.95 on a trading range of Rs.95 to Rs.97.50. Two crossings of 211,000 and a million shares, both at Rs.95, were among the trades.
Central Finance continued its upward run gaining Rs.50.80 to close at Rs.1,411.60 with 89,400 shares traded between Rs.1,389 and Rs.1,449 to contribute the day’s third highest turnover of Rs.126.7 million.
Free Lanka Capital Holdings with nearly 19.6 million shares traded between Rs.5.40 and Rs.5.80 closed 10 cents down at Rs.5.50.
Other gainers that showed quantity yesterday included Browns up 60 cents to close at Rs.330 on nearly 0.2 million shares, Lake House Printers up Rs.44.40 to close at Rs.206.20 on over 0.2 million shares, Shaw Wallace up Rs.31.10 to close at Rs.317.20 on over 0.1 million shares and Dimo up Rs.26.50 to close at Rs.1,700 on 22,700 shares
Among most traded blue chip shares, Cargills closed flat at Rs.225 on nearly 0.2 million shares while JKH gained 40 cents to close at Rs.295 on 0.1 million shares.
CSE announced that it had approved in principle an application by Chilaw Finance Limited for a listing of its ordinary voting shares on the Diri Savi Board with nearly 28.1 million ordinary voting shares being listed by way of an introduction.
source - www.island.lk
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