Tuesday, November 20, 2012

Colombo bourse tumbles

Indices plunged yesterday on heightened selling pressure at the Colombo bourse, taking turnover levels to Rs. 3.86 billion with a net foreign outflow of Rs. 1.66 billion.

The All Share Price Index fell 0.94 percent, down 52.39 points to close at 5,503.93. The Milanka Price Index of more liquid stocks closed 1.12 percent lower, down 57.77 points at 5,086.55 while the S&P SL20 closed at 3,006.47, down 0.73 percent, or 22.21 points lower.

"Selling pressure on several large caps dragged the indices sharply lower. Market turnover crossed the Rs. 3bn threshold, mainly on the back of crossings on BIL, GREG, and HNB, which collectively accounted for around 95 percent of turnover," John Keells Stockbrokers said.

Foreign selling amounted to Rs. 1.7 billion leading to a net outflow of Rs. 1.66 billion yesterday.

GREG (Environment Resources Investments PLC) saw 101 million shares change hands in an off market deal at Rs. 16.70 each.

Two parcels of BIL (Browns Investments PLC) totalling 353 million shares changed at Rs. 5.50 per share.

A crossing of 218,577 HNB shares took place at Rs. 154.90 per share.

"Amongst the losers for the day were Beruwela Walk Inn, George Steuart Finance and Kelsey Developments which declined by 27.3 percent, 19.0 percent and 11.8 percent offsetting gains in Lake House Printers, Industrial Asphalts and Infrastructure Developers which advanced by 14.8 percent, 8.8 percent and 8.2 percent respectively," DNH Financial said.

source - www.island.lk

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