Tuesday, August 23, 2011

CSE closes in the red

The Colombo bourse fell 0.34 percent yesterday (22) as retailers cashed in on stocks that were purchased during last week’s optimistic run, brokers said.

The All Share Price Index fell 23.61 points to close at 6,928.03 while the Milanka Price Index of more liquid stocks closed 0.66 percent lower, down 42.06 points to settle at 6,292.35. The day’s turnover reached Rs. 2.37 billion with a little more than 84.3 million shares changing hands during the day.

Only 56 counters made positive gains while 141 counters closed in the red.

"Sustained selling pressure pushed the indices lower amid moderate turnover levels by retail activity on speculative counters," John Keells Stockbrokers said.

"Selling pressure was seen as investors cashed in on stocks that were accumulated following last week’s optimistic run," Bartleet Mallory Stockbrokers said.

HVA Foods PLC generated the most to turnover at Rs. 427.48 million and was also the most traded share during the day with over 11 million shares changing hands. The stock closed at Rs. 39.70.

Laugfs Gas Ltd which generated much interest last week generated a turnover of Rs. 194.77 million before closing at Rs. 45.60.

Citrus Leisure PLC closed at Rs. 82.20 before contributing Rs. 146.86 million to the day’s turnover.

Miramar Beach Hotel PLC was the biggest gainer, up 13.21 percent to close at Rs. 300 followed by Asiri Central Hospitals PLC which gained 11.42 percent to close at Rs. 217.50.

Beruwela Walk Inn Ltd was the biggest loser down 8.84 percent to close at Rs. 176 followed by E. B. Creasy and Company PLC, which closed 8.33 percent lower at Rs. 2,200.

On Monday (22 August), the ASPI had gained 4.40 percent year-to-date while the Milanka was down 10.89 percent. Foreign purchases amounted to Rs. 156.30 against foreign sales amounting to Rs. 112.10.

The Beverages, Food and Tobacco sector stocks were up 0.42 percent, contributing 24.57 percent to the day’s turnover while all other sectors closed in the red; Banking and Finance was down 0.34 percent, Land and Property 1.39 percent, Hotels and Travels 0.54 percent, Power and Energy 0.97 percent and Diversified Holdings 0.40 percent.

Colombo Land and Development Company PLC featured in a crossing of 350 thousand shares at Rs. 65.50 each.

Ceylon Tobacco Company saw two crossings of 250 thousand shares at Rs. 395 while NDB Bank PLC featured in a crossing involving 250 thousand shares at Rs. 135.

Eastern Merchants PLC and Lanka Ashok Leyland PLC both made dividend announcements
source - www.island.lk

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