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Jun 12, 2011

Janashakthi Insurance emerges as the top traded counter at Bourse



The Colombo Stock Market, despite starting off for the day on a positive note, lost ground during the middle hours of trading, ending up on a mixed note recording a dip of 30.9 points in the All Share Price Index (ASPI). Retail participation was prominent during today’s trading, where Janashakthi Insurance (JINS) emerged as the top traded counter, contributing circa 12.5% of the day’s turnover on the back of retail and high net worth participation. The counter saw a block of shares counting to 2 millionn crossed off at Rs.20.10. Mixed investor interest was evident in Central Finance Company (CFIN), where the counter saw two blocks of 12,000 and 31,500 shares crossed at a price of Rs.1,670.00 and Rs.1600.00 respectively. Meanwhile, Nation Lanka Finance (CSF) along with Colombo Land & Development Company (CLND) grabbed retail and high net worth interest during trading. Simultaneously Laugfs Gas Limited (PGP) was found amongst the retailer’s favourite picks list.

The All Share Price Index (ASPI) dipped 30.9 points to close at 7,387.2 points (-0.4%), whilst the Milanka Price Index (MPI) gained 5.5 points to close at 6,859.1 points (0.1%). The total turnover was Rs.2.72 billion (fell 21.6%) whilst the volume traded for the day was 96.36 million (fell 4%). Foreign purchases fell 0.2% to Rs.237.8 million and foreign sales fell 67.9% to Rs.151.9 million.

Top traded counters were Janashakthi Insurance (JINS) Rs.340.7 million, Nation Lanka Finance (CSF) Rs.313.5 million, Colombo Land & Development Company (CLND) Rs.293.6 million, Central Finance Company (CFIN) Rs.169.4 million and Laugfs Gas Limited (LGL) Rs.117 million.

Commercial Credit (COCR), which began trading with a reference price of Rs.25.40, was the day's top gainer, shooting up to Rs.45 before closing at Rs.33, up Rs.7.60 or almost 30% with just over 3 million shares changing hands.

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