Thursday, September 22, 2011

The Finance tops trading

The bourse continued its downtrend yesterday where broad levels of selloff were displayed on stocks. ASI decreased by 35.69 points (-0.52%YoY) to close at 6,792.88 where as sensitive MPI dipped by 30.89 points (-0.50%) to end at 6,138.33.

Market turnover stood at Rs 2.0bn. The Finance Company Plc (Rs 415.3mn) recorded to be the highest contributor to the turnover. The counter also depicted heavy trading during the day.

Furthermore The Finance Company Plc posted two crossing of 5.8mn shares at a price of Rs 48.00.

Additionally, Nawaloka Hospitals Plc (Rs 149.2mn) and Laugfs Gas Plc (Rs 107.9mn) notably contributed to the daily turnover

In the meantime Colombo Land & Development Plc, East West Properties Plc and Nawaloka Hospitals Plc demonstrated active trading.

Softlogic Capital Plc, which commenced its trading today and listed by introduction, witnessed active investor participation. The counter rallied to a high of Rs 75.00 and dropped back at the end of the day to close at Rs 47.00 (up Rs 7.00).

Foreign participation was recorded at 6.2% of the total market activity and at the end of the day foreign investors were the net buyers with a net foreign inflow of Rs 6.99mn.

Lanka Securities Research

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