Market in holiday mood

The Bourse continued its downward trend, on Monday, as the holiday season approached with the ASPI coming down by 17 points (-0.6%) and the MPI by 29 points (-0.8%) to close at 2607 and 3217 respectively.

The sharp decline in the MPI, which tracks the most liquid and actively traded stocks in the market, was due to heavyweights Dialog Telekom and John Keells Holdings declining.

Dialog closed down by Rs 0.25 to close at 16.50 and JKH by Rs 0.75 to Rs 119.00. Total turnover for the day was Rs 536 million.

SLT continued to dominate trading with large parcels moving at negotiated prices. Total contribution by SLT was Rs. 423.9 million. Dialog (Rs 15.2 million), LMF (Rs 9.7 million) Overseas Realty (Rs 8 million) and Central Finance (Rs 7.7 million) were the other contributors to the days turnover.

The top advancers for the day were Hotel Reefcomber by 10% to Rs 1.10, Equity One by 8% to Rs 24.75, Blue Diamonds (voting) by 7% to Rs 3.00, Colombo Pharmacy by 6% to Rs 265.00 and Mercantile Shipping by 5% to Rs 109.75.

Source : First Guardian Equities