Friday, November 16, 2012

Colombo bourse down 0.30%

The bourse closed in the red yesterday on low activity levels.

The All Share Price Index fell 0.30 percent, down 16.71 points to 5,558.25 while the S&P SL20 fell 0.55 percent to close at 3,026.71, down 16.81 points.

The Milanka Price Index of more liquid stocks fell 0.94 percent, losing 48.47 points to close at 5,127.64.

The Colombo Stock Exchange announced yesterday that the Milanka price index would no longer be used from January 01, 2013 following the launch of the S&P SL20 earlier this year.

Launched jointly with S&P Dow Jones Indices, the S&P SL20 represents 54 percent of the market in contrast to the Milanka’s less representation of 22 percent as at November 12, 2012. "Additionally, the comparative advantage of the S&P SL20 counts its ability to act as a credible index for both global and domestic investors. It also forms the foundation upon which products such as exchange traded funds can be based on," the stock exchange said in a statement.

"The indices trended marginally lower for a second consecutive day amid slightly improved activity levels which were boosted by crossings on JKH and LION, collectively accounting for over 55% of market turnover," John Keells Stockbrokers said on Thursday (15).

Foreign Purchases amounted to Rs. 360.11 million resulting in a net inflow of Rs. 336.45 million.

"Amongst the losers for the day were Ceylon Printers, Samson International and Selinsing which declined by 20.1 percent, 19.9 percent and 18.2 percent offsetting gains in Serendib Land, Tangerine Beach and Richard Pieris Exports which rose by 11.6 percent, 10.8 percent and 10.3 percent respectively," DNH Financial said.

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