Friday, September 16, 2011

Twelve brokers suspended

Market continued to end in negative note as the regulator suspended 12 brokers from giving credit due to lack of capacity. ASI lost 44.68 points (-0.65%) to close at 6,850.93 while more liquid MPI lost 49.16 index points (-0.79%) to close at 6,178.49.

Daily market turnover stood at Rs 1.4 billion.

Blue Diamond Jewellary voting (Rs 108.1mn) and non-voting (Rs 105.1mn) shares topped the turnover list today with attractive retail investor participation. Further, Colombo Land & Development also made a notable contribution to the turnover with an amount of Rs 74.9mn.

Muller & Phipps, HVA Foods and East West Properties were among the mostly traded stocks during the day.

Meanwhile, John Keells Holdings and Ceylon Guardian Investments made several crossings at a price of Rs 217.50 and Rs 325.00 respectively during the day. John Keells Holdings closed at Rs 216.70, down Rs 2.10 and Ceylon Guardian Investments closed at Rs 335.00, down Rs 4.60.

Foreign participation accounted for 9.4% of the total market activity. At the end of the day foreign investors were net sellers with a net foreign outflow of Rs 47.1mn

Lanka Securities Research

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