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Wednesday, July 13, 2011

Bourse & debutant Softlogic close in the red

The Colombo Stock Exchange closed in negative territory on Tuesday with heavy trading in debutant Softlogic Holdings which its share price fall below the IPO price.

The All Share Price Index fell 1.54 percent to close at 6,663.64, down 103.95 points while the Milanka Price Index closed 1.75 percent lower, down 109.89 points at 6,164.56 generating a turnover of Rs. 2.1 billion on a volume of 100.2 million shares.

Softlogic Holdings (SHL) shares traded below the Rs. 29 IPO price, reaching a high of Rs. 25 before closing at Rs. 18, brokers said. SHL was the biggest loser during the day with its share price falling 37.59 percent.

SHL saw a little more than 21 million shares change hands during the day generating a turnover of Rs. 418.4 million, to be the highest traded share in terms of both volume and turnover.

Foreign purchases amounted to Rs. 203.63 million while foreign selling amounted to Rs. 226.07 million resulting in a net outflow of Rs. 22.44 million.

Forty five counters closed on a positive note compared to 161 that closed in the red.

"The market fall continued as SHL debuted on the CSE while activity remained moderate during the day," John Keells Stockbrokers said.

"The market opened on positive territory but took a significant dip thereafter. Buying interest was seen on Vallibel One (VONE), though retail and institutional investors appeared quite," Bartleet Mallory Stockbrokers said.

VONE generated the second highest turnover amounting to Rs. 182.8 million with 6.13 million shares changing hands during the day. The share closed at Rs. 30.

Orient Garments generated a turnover of Rs. 149.2 million and closed at Rs. 34 a share.

Swarnamahal Financial Services was the biggest gainer, up 15.36 percent to close at Rs. 90.

Seylan Bank featured in a crossing with 1.45 million shares changing hands at Rs. 75 each. A parcel of 100 thousand shares of Cargills Ceylon also changed hands outside the trading floor at Rs. 200 each while Bukit Darah saw 25 thousand shares change hands at Rs. 1,100 each.
source - www.island.lk