Both indices lose substantial ground, Rs. 19.5 bn. marketcap wiped out

The Colombo bourse reacted sharply to the escalating violence and the sharply deteriorating security situation with both All Share and the Milanka price indices losing substantial ground on top of the decline the previous day.

The All Share lost 63.70 points (4.94%) while the Milanka lost 97.04 points (3.50%) on a turnover of Rs.490 million, up from Rs.333.3 million the previous day.

The bourse lost Rs.19.5 billion in market capitalization during yesterday’s crash, analysts noted.

Foreigners were heavier on the buying side with purchases of Rs.151.5 million against sales of Rs.115.8 million.

Only 10 counters advanced yesterday against 130 decliners.

The big trades were in Touchwood (nearly 1.5 million shares), Dialog (nearly 6 million shares), SLT (over 2.4 million shares), Seylan Bank non-voting (nearly 2.2 million shares), Distilleries (nearly 0.5 million shares) and Vanik (over 7.7 million shares).

Vallibel set the dates for its 2 for 1 bonus announced before the recent IPO and said that allotments would be made on July 5. The share would trade XC on June 23.

Lanka Ventures said that its 10 per cent dividend would be paid on August 10 and the share would trade XD from July 28.

Touchwood after its recent suspension gained Rs.3 on the VWA to close at Rs.111.75 after trading between Rs.110.50 and Rs.125.

Dialog traded between Rs.19.25 and Rs.20.50 before closing at Rs.19.50 on the VWA, down 75 cents while SLT lost 25 cents on the VWA to close at Rs.17.75 after trading between Rs.17.50 and Rs.18.25.

Distilleries lost Rs.2 on the VWA to close ate Rs.41.25 after trading between Rs.40.50 and Rs.42.75.