Indices Down

Retailer investors sold down blue chip stocks bringing the market indices down by 1 percent as turnover remained low on poor institutional activity. The ASPI closed down 33 points to 3,024, while the MPI closed down 35 points to 3,399.

Turnover for the day was Rs 330 million coming from Seylan Bank non voting shares which closed unchanged at Rs. 17.25 on a turnover of Rs 34 million. Seylan Bank's voting shares closed down Rs 2.75 to Rs. 39.00 on business of Rs 23 million. This is pursuant to the listing of 54 million shares following the public issue to recapitalise the bank. Vallibel Power Erathna was the second largest contributor to the turnover with the share closing up 10 cents at Rs. 4.60 on turnover of Rs. 33 million.

Source: First Guardian Equities