Stock Market Continues to Bleed….16th Dec 2010

The All Share Price Index dipped 13.4 points to close at 6,360.3 points (-0.2%), whilst the Milanka Price Index also dipped 11.6 points to close at 6,821.8 points (-0.2%).

The total turnover was LKR921.9 mn (USD8,308.4 k)  vs. 12-month average daily turnover of LKR2,399.6 mn (USD21,625.8 k) whilst the volume traded for the day was 49,147 k against the 12-month average daily volume of 74,650 k.

Top traded counters were



Market continued its downward trend with moderate activity levels. Heavy weight John Keells Holding attracted institutional and high net worth interest to emerge as the top trader for the day. Nations Lanka Finance saw retail selling following the announcement of 3 for 2 rights issue for a consideration of LKR5.0 per share. Institutional activity was seen in Tokyo Cement (Non Voting), CT Holdings and Ceylinco Insurance. Further Chevron Lubricants made a dividend announcement of LKR3.0 per share.

A net outflow of foreign funds were seen during the day, where foreign purchases amounted to LKR157.7 mn (USD1,421.2 k), whilst foreign sales amounted to LKR182.2 mn (USD1,642.0 k).

Market capitalization is at LKR2,118.5 bn. YTD market performance is up 87.9%.

TKS Securities (Pvt) Ltd