Archives

by Ravi Ladduwahetty

The sale of 758,000 NDB shares at Rs. 95 was the highlight of the performance of the Colombo bourse when trading resumed yesterday which accounted for Rs. 72 million of the Rs. 132.9 million.

The NDB shares which changed hands yesterday were between two foreign funds and it was rumoured that the buyer was Elgin Investments Ltd which increased its stake in NDB to 4.4 percent yesterday from the earlier 3 percent, market analysts told the yesterday.

NDB was also the focus of trading last week when Dhammika Perera sold his last 1 percent stake in the bank from the earlier 10 percent stake he had in the blue chip bank. The other big trades yesterday amidst a low turnover was the sale of 93,000 Central Finance shares at Rs. 76 which yielded Rs. 13 million while a further 80,000 shares of John Keells Holdings were traded at Rs. 87.50 and Rs. 87.75. The third biggest trade was when 96,000 Hatton National Bank shares were sold at Rs. 76.

However, the All Share Price Index (ASPI) dropped 3.6 points to 854.7 points while the Millanka Price Index also dropped 2.29 points to 1521.16 points. Analysts believe that the market has fluctuated based on the responses of the Government and the LTTE in terms of the peace process and the Tokyo donor conference which is scheduled for next week.

They said that the market appreciated last week assuming that the Funds which reach Colombo after the conference and added that if there is a reduction in the Funds allocated for Sri Lanka due to the absence of the LTTE at the Tokyo parley, then the investments into the bourse will also slow down.

www.crescat.com

News | Business | Features | Editorial | Security
Politics | World | Letters | Sports | Obituaries |

Produced by Lake House
Copyright 2001 The Associated Newspapers of Ceylon Ltd.
Comments and suggestions to :Web Manager