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The indices on the Colombo bourse closed in opposite directions with the All Share Price Index down 2.43 points (0.15%) while the Milanka gained 4.05% (0.24%) on a turnover of Rs.104.3 million, down from the previous day’s Rs.389.5 million.
Nearly half of yesterday’s turnover came off a transfer of over 0.7 million Sampath Bank by an institutional investor who moved a big parcel to a related account shortly after trading commenced.
Brokers said that Sampath saw nearly 0.8 million shares traded between Rs.65.75 and Rs.72 closing 25 cents up at Rs.68 and generating Rs.51.6 million turnover.
The big parcel of 744,155 shares was transferred at a price of Rs.65.75. The rest of the trades on this counter were small ones of 1,500 shares and less, brokers said.
Apart from Sampath, Commercial Bank generated a turnover of Rs.10.2 million on over 0.1 million shares done between Rs.77.75 and Rs.79. ComBank was up 25 cents to close at Rs.77.75.
Other counters that showed some volume included JKH where 58,700 shares were done between Rs.58.50 and Rs.59.75 with the counter losing 25 cents to close at Rs.58.50 contributing Rs.3.4 million to turnover.
Singer (Sri Lanka) in a Stock Exchange announcement responded to a Fitch rating report released last week downgrading the company’s national long-term rating and its senior unsecured notes saying that Singer was confident about meeting its re-financing needs in the short-term and that it has already taken necessary measures to strengthen its credit metrics in the coming six months by slashing inventories, reducing unproductive headcount and improving of gross margins and drastically reducing fixed (period) expenses.
