Monday’s slide on the Colombo Stock Exchange continued yesterday with the All Share Price Index losing 68.29 points (1.02%) and the Milanka dropping 51.92 points (0.82%) on a turnover of Rs.1.69 billion, up from the previous day’s Rs.1.25 billion, with 150 losers strongly outpacing 54 gainers.
Heavy retail activity was evident in Expolanka, Vallibel One and Orient Garments, all newly quoted on the Colombo bourse, Prashan Fernando of Acuity Stockbroker said.
"The market eased off with many stocks on the downside," he said.
"There were several crossings during the day, two 370,00 share parcels of Commercial Bank at a price of Rs.260, one parcel of 100,000 JKH at Rs.203, one of 362,200 Ceylon Tobacco at Rs.367 and 1.25 million Citizens Development Bank at Rs.80," he said.
Commercial Bank generated the day’s top turnover of Rs.195.3 million with nearly 0.8 million shares traded on the floor between Rs.256 and Rs.259 closing 90 cents up at Rs.257. The crossings however were at a higher price of Rs.260.
Other stocks that showed volume included Softlogic where nearly 5.4 million shares were done between Rs.25.70 and Rs.26.50 losing 40 cents to close at Rs.26 and JKH which dragged the indices down losing Rs.4.10 to close at Rs.202 on 0.6 million shares done between Rs.202 and Rs.206.
Expolanka lost 30 cents to close at Rs.15 on nearly 5.6 million shares, Vallibel One was down Rs.1.10 to close at Rs.29.70 on nearly 2.4 million shares and Orient Garments up 60 cents to close at Rs.34.90 on 2 million shares.
Brokers said that retail selling was seen on Touchwood where nearly 2.2 million shares were done closing Rs.1.70 down at Rs.23.20 on a trading range of Rs.23 to Rs.24.20.
Asia Capital announced that it was selling its 40% stake in Asia Siyaka Commodities (Private) Ltd. to Asia Siyaka (Private) Ltd. at Rs. 175 million with the transaction to be concluded on Sept. 1.
source - www.island.lk
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