Bourse experiences negative returns

The Stock Exchange dipped significantly today on account of the heavy selling pressure. Notably all the sectors in the bourse experienced negative returns during the day.

ASI declined by 76.74 points (-1.35%) to close at 5,605.49 while sensitive MPI dipped by 68.35 points (-1.39%) to end at 4,841.11.Market turnover stood at Rs 970.1 million.

ACME Printing & Packaging Plc (Rs 221.7 million) was the top contributor to the daily turnover with active level of trading. Furthermore, the counter dipped heavily yesterday in contrast to the heavy rally experienced in past few days.

ACME closed at Rs 24, down Rs 8.60 (-25.7%). In addition John Keells Holdings Plc (Rs 99.2 million) and Swarnamahal Financial Plc (Rs 70.1 million) contributed significantly to the daily turnover. Meanwhile Environmental Resources Plc, Orient Garment Plc and Asia Assets Finance Plc traded aggressively during the day.

It was announced today that Environmental resources Warrant 2012 (GREG.W0002), which was much talked about, will cease trading on the trading floor of the Colombo Stock Exchange after February 3, 2012.

Foreign participation stood at 10.6% of the total market activity and at the end of the day foreign investors were the net buyers with a net foreign inflow of Rs 116.1 million. Lanka Securities Research