The Colombo bourse closed negative yesterday with both indices down, though not sharply, on a modest turnover of Rs.1.16 billion, down from the previous day’s Rs.1.2 billion with 107 losers ahead of 81 gainers.
The All Share Price Index was down 2.81 points (0.04%) and the Milanka down 13.99 points (0.22%).
``The going was very slow and the market closed negative," Prashan Fernando of Acuity Stockbrokers said. "Blue Diamonds, East West, Aitken Spence, Vallibel One and E-Channeling were the major business generators."
Blue Diamonds closed 30 cents down at Rs.8.60 on 29.2 million shares done between Rs.8.50 and Rs.9.40 with a crossing of 11 million shares at a price of Rs.10 among the trades. Given that trading floor transactions were at a lower price, analysts could not figure out the rationale for the higher price paid.
"I don’t know why anybody wanted to pay Rs.10 for a share that could have been cheaper on the floor," one broker said.
East West gained Rs.1.90 to close at Rs.21.50 on nearly 5.3 million shares done between Rs.19 and Rs.21.50 while Spence edged up 10 cents to close at Rs.141 on nearly 0.7 million shares done between Rs.139 and Rs.141.90.
Vallibel One, with a crossing of slightly over 2 million shares at Rs.29.50, closed flat at Rs.29.10 on nearly 2.7 million shares done between Rs.28.90 and Rs.29.30 on the floor.
Other counters that showed volume included Commercial Credit where over 1.1 million shares were done gaining Rs.4.30 to close at Rs.29, Expolanka down 30 cents to Rs.13.70 on nearly 1.5 million shares, Blue Diamonds (non-voting) flat at Rs.2.20 on 5.2 million shares and Panasian Power down 10 cents to Rs.4.50 on over 1.7 million shares.
source - www.island.lk
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