Thursday, August 25, 2011

Market dips

Market ended in a negative sentiment as benchmark indices slipped into red zone yesterday. ASI dropped 49.02 points (-0.72 percent) to close at 6,812.71 while more sensitive MPI closed at 6,193.31, a dip of 25.72 points (-0.41 percent).

Market turnover stood at Rs 1.1 billion.

Colombo Land and Development Plc (Rs 99.9 million) was the top contributor to the market turnover followed by Brown and Company Plc (Rs 77.6 million) and National Development Bank Plc (Rs 69.8 million).

Alufab Plc emerged as the top gainer of the day with heavy trading. Further, Asiri Hospitals Plc and Colombo Land and Development Plc demonstrated more investor participation during the day.

500,000 shares of National Development Bank Plc (Rs 135.0 - Rs 137.0), 200,000 shares of Brown and Company Plc (Rs 275.0), 531,200 shares of Seylan Bank Plc (Rs 60.0) and 200,000 shares of John Keells Holdings Plc changed hands in off the floor deals during the day.

Foreign participation was lower and it accounted for 9.9 percent of the total market activity. Foreign investors ended as net sellers with a net outflow of Rs 55.4 million. Lanka Securities Research

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