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Jul 25, 2011

Dull week pushes indices further down at Colombo

Colombo All Share Price Index (ASPI) dropped below 6,500 mark during the day to post a new low since December 2010 while Milanka Price Index (MPI) dropped once below 6,000 mark, a new low since September 2010. Buying witnessed during the latter half could not help the indices close in green. Week ended with ASPI and MPI dipping 3.54% and 4.46% respectively.

Diversified sector was the main contributor to the market turnover on Friday the 22 July due to Vallibel One (VONE) and Aitken Spence (SPEN), while the sector index decreased by 0.93%.Vallibel One (VONE) was the main contributor to the market turnover. The share price decreased by Rs.0.10 (0.33%) and closed at Rs.29.90.

The All Share Price Index (ASPI) closed at 6,537.25 points, dipped 0.94% by 61.72 points while the Milanka Price Index (MPI) came down 1.13% by 69.19 points to close at 6,029.75 points as per data. Total turnover was Rs.1.3 billion increased by 22.86% with a volume of 76.84 million shares changing hands (up 52.23%). Foreign purchases rose 46.96% to Rs.133.14 million and foreign sales also topped 28.9% to Rs.219.67 million. Price to forward Earnings ratio decreased 0.88% to 22.5 times.

Banks, Finance & Insurance sector also contributed significantly to the market turnover due to Central Finance (CFIN). The sector index decreased 1.60%. Profit taking was witnessed in Central Finance (CFIN) after making gains early during this week. The share price closed at Rs.1,435 having decreased Rs.73.20 (1.06%). The share price dip of John Keells Holdings (JKH) weighed on indices while renewed interest was witnessed in Bairaha Farms (BFL).

Several crossings were done including 300,000 shares of Aitken Spence (SPEN) at Rs.140 via two crossings, Bairaha Farms (BFL) 132,400 shares at Rs.260, Seylan Bank Non-Voting (SEYB.X) 1 million shares at Rs.30 and Lanka Walltile (LWL) 300,000 shares at Rs.120 per share.


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