Bourse bounces to green terrain
The Colombo bourse ended its losing streak yesterday with a
significant bounce back to the green terrain. However the bounce back
was supported by thin turnover.
ASI jumped by 103.84 points (+1.4 percent) to close at 7,317.17 while
more sensitive MPI gained 56.02 points (+0.84 percent) to end trading at
6,747.35.
Market turnover was low at Rs 1.6 billion.
Lankem Ceylon Plc (Rs 157.0 mn) was the top contributor to the
turnover followed by Nation Lanka Finance Plc (Rs 122.0 mn) and Aitken
Spence Hotels Plc (Rs 57.5 mn). Nation Lanka Finance Plc was also seen
to be actively trading in the day.
In addition counters such as Alufab Plc and Radiant Gems
International Plc attracted notable investor interest during trading
hours. In terms of the SEC directive, the 10 percent price band has been
imposed on ALUF.N.0000 with effect from May 6, 2011 to May 12, 2011.
Foreign participation was further dipped to 4.8 percent of the total
market activity. At the end of the trading day foreign investors were
the net sellers with a net foreign outflow of Rs 8.5 million.
Price appreciation in index heavy counters such as John Keells
Holdings Plc (up Rs 5.00), Carson Cumberbatch & Company Plc (up Rs
16.90) and Bukit Darah Company Plc (up Rs 18.00) contributed to the
positive market performances.
Lanka Securities Research |