Friday, August 19, 2011

Price band for three companies

Colombo Stock Exchange ended indecisively yesterday where benchmark indices closed in alternate directions.

In addition during the day several rallies were depicted on stocks such as Colombo Land & Development Plc, Citrus Leisure Plc and HVA Foods Plc of which HVA foods Plc demonstrated the heaviest gain.
The counter closed at Rs 33.60, up Rs 15.00 (+80.6%).

ASI gained 16.74 points (+0.24%) to close at 7,030.85 while sensitive MPI dipped 26.77 points (-0.41%) to settle at 6410.12.

Colombo Land & Development Plc (Rs 1.6bn), HVA Foods Plc (Rs 1.0bn) and Citrus Leisure Plc (Rs 544.5mn) made the strongest contributions to the daily turnover. Furthermore all these counters traded aggressively today along with Central Investments & Finance Plc.

Central Investment & Finance Plc (CIFL) which debuted secondary trading today ended in green. CIFL closed at Rs 12.50, up Rs 2.50 (+25%).

Moreover at the end of the day 10 percent price band was imposed on Colombo Land & Development Plc, HVA foods Plc and Multi Finance Plc.

Foreign participation stood at 4.1 percent of the total market activity. At the end of the day foreign selling outweighs foreign buying by Rs.216.7mn.

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