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Friday, June 17, 2011

CSE down 0.95% on selling pressure

The Colombo Stock Exchange fell to a three month low down 0.95 percent on increased selling pressure on Thursday with the All Share Price Index closing down 67.34 points at 7,015.71 while the Milanka Price Index of more liquid stocks closed 67.78 points lower at 6,569.40, down 1.02 percent, brokers said.

Turnover reached Rs. 2.37 billion with a little more than 186.6 million shares changing hands during the day with 57 counters ending on a positive note while 154 closed negative.

"There were mixed investor sentiments with retail, high net worth and institutional investors making their presence felt. Speculative buying interest was seen in certain counters," Bartleet Mallory Stockbrokers said.

"Selling pressure continued to drag the indices down amid moderate turnover levels with activity levels driven by a mix of speculative trading on second tier stocks and large trades on selected bluechips," John Keells Stockbrokers said.

The All Share Price Index has fallen 5.72 percent since the beginning of this year while the Milanka Price Index fell at sharper pace, down 6.97 percent year-to-date.

Foreign purchases amounted to Rs. 145.17 million while foreign sales amounted to Rs. 71.49 million.

Blue Diamond PLC gained 13.16 percent after a little more than 25.1 million shares changed hands at Rs. 8.60. JKH saw its share price drop 0.44 percent with 669,400 shares trading at Rs. 297.2. Sampath Bank saw 694,900 shares trade at 255.30 to close 2.82 percent lower. Panasian Power saw a little more than 29.8 million shares change hands at Rs. 5.80 to close 6.45 percent lower. CSEC closed 0.84 percent lower with 6.02 million shares trading at Rs. 23.70.

The top five gainers included BLI (up 49.86 percent), SLND (22.22 percent), BLUE-X (18.18 percent), BLUE (13.16 percent) and EMER (12.50 percent). Top five years losers included ASHO (down 19.99 percent), PDL (11.08 percent), CLPL (warrants 13) 9.57 percent, SMLL (warrants 20) 8.39 percent and GEST (8.10 percent).

JKH saw two crossings of 525,000 shares at Rs. 298 each while Sampath Bank saw 400,000 shares change hands at Rs. 255 while 84,673 DIMO shares were traded at Rs. 1,405.9 each.

In sector-wise indices, manufacturing was up 0.34 percent and contributed 22.17 percent to total turnover of the day. Banks, finance and insurance was down 1 percent, contributing 21.05 to turnover, diversified holdings was down 1.46 percent with a 19.33 percent contribution. The power and energy sector was down 1.89 percent contributing 8.83 percent to turnover, motors was down 9.11 percent and contributed 5.56 percent while chemicals and pharmaceuticals was down 0.65 percent with a contribution of 4.3 percent.

source - www.island.lk