Pessimistic week

7 October 2011 03:37 pm - 0 - {{hitsCtrl.values.hits}}

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The Colombo bourse endured a week with a pessimistic outlook on the onset, continuing the trend entire week excluding Friday. However during the week selected retail counters such as LITE, CFT and ECL etc displayed a speculative run.

ASI dropped by 20.99 points (-1.25%WoW) and sensitive MPI dipped by 66.97 points (-1.11%YoY) to settle at 5,978.14. Foreign participation was recorded at 10.51% of the total market activit and at the end of the week foreign investors were the net sellers with a net foreign outflow of Rs.380.49mn.

On Friday, the market endured a strong day on account of the notable buying pressure. ASI increased by 20.99 points (+0.31%YoY) to close at 6,698.83 where as liquid MPI jumped by 39.54 points (+0.67%YoY) to settle at 5,978.14. Market turnover was recorded at Rs.2.3bn.

Laugfs Gas Plc (LGL) (Rs.986.8mn) made heavy contributions to the daily turnover with aggressive trading. Furthermore LGL displayed a strong rally at the end of the day with heavy volume. LGL closed at Rs.50.00, up Rs.9.00 (+21.95%). In addition John Keells Holdings Plc (Rs.213.4mn) and Regnis (Lanka) Plc (Rs.126.2mn) made notable contributions to the turnover. Meanwhile Laugfs nonvoting, Blue nonvoting and voting demonstrated active level of trading.

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Pessimistic week

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