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Lackluster bourse

23 November 2011 02:01 pm - 0     - {{hitsCtrl.values.hits}}


Colombo bourse experienced yet another lackluster session with low activity and turnover levels. The benchmark ASI slipped 25.59 points (-0.4%) to close at 6,035.36 while MPI ended the day at 5,275.41, a dip of 23.83 points (-0.5%). 

Index heavy John Keells Holdings Plc (LKR 57.1mn) and Dialog Axiata Plc (LKR 56.6mn) were the top contributors to the market turnover of LKR 603.9mn. John Keells Holdings closed flat at LKR 175.00 while Dialog Axiata closed at LKR 7.90 (+1.3%).Moreover, no crossings were recorded during the day.
Kandy Hotels (LKR 287.00, +43.5%) emerged as the top gainer of the day attracting retail investor interest subsequent to the announcement of the subdivision of shares (01 into 35). Furthermore, retail investor interest was seen in counters such as Orient Garments Plc (LKR 37.10, +4.5%), HVA Foods Plc (LKR 37.00, -3.9%) and Colombo Land & Development Plc (LKR 51.50, -2.1%)
By the end of the day foreign investors were net sellers with a net foreign outflow of LKR 76.5mn. Foreign participation accounted for 10.4% of the market activity.
After the successful IPO, Peoples Leasing Company Plc will commence its secondary trading tomorrow. The IPO, the second largest at CSE, raised LKR 7.0bn by offering 390mn shares at a LKR 18.00 per share

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