The Colombo bourse yesterday continued to lose ground in lackluster trading with the All Share Price Index down 16.85 points (0.59%) and the Milanka down 15.63 points (0.48%) on a turnover of Rs. 293.7 million, up from the previous day’s Rs. 253.4 million with NDB generating nearly half the business volume.

``The political overhang remains,’’ Prashan Fernando of Acuity Stockbrokers said. ``December is usually a quiet month and major activity is unlikely until the political picture clarifies.’’

``It was a very quiet day all round,’’ Navin Dullewe, also of Acuity added. ``Trading was lackluster.’’

Although both indices closed down, the Milanka was up slightly during most of the day’s trading, brokers said.

Losers at 93 strongly outpaced 22 gainers although the picture was not as bad as the previous day, brokers said.

NDB was up a rupee to close at Rs. 180 with nearly 0.8 million shares done between Rs. 177.50 and Rs. 185 contributing Rs. 141.5 million turnover. There was a large crossing at Rs. 185 among the day’s trades.

Non-voting shares of Tokyo Cement, posting a turnover of Rs. 15.2 million trailed far behind to be the next best business generators with the counter up 25 cents to close at Rs. 17.25 on a trading range of Rs. 16.50 to Rs. 17.25. Voting shares of Tokyo were up sharply, gaining Rs. 20 to close at Rs. 234.50 though on a thin volume of 2,400 shares.

Lanka Cement, a retail favourite, gained Rs. 1.25 on over 0.4 million shares done between Rs. 20 and Rs. 21.75 generating Rs. 9.5 million turnover.

Chevron Lubricants, where a share split that will double the number of shares in issue is pending, was up a rupee to Rs. 206 on 44,900 shares done between Rs. 205 and Rs. 206 while CIC trading between Rs. 55 and Rs. 55.50 lost 50 cents to close at Rs. 55.50 on over 0.1 million shares.

Liquidity was low on JKH for which buying demand continues with the counter, trading XD with a dividend of a rupee a share payable, seeing 33,600 shares done between Rs. 138.75 and Rs. 139.50 edging up 25 cents to close at Rs. 139.

Hemas Power gained 50 cents to close at Rs. 19.75 after touching the twenty rupee issue price during the day.

The Seyan Bank announced that the last tranche of Rs. 223.4 million had been received from the Sri Lanka Insurance Corporation for nearly 6.4 million ordinary voting shares of the bank placed at Rs. 38 per share. These shares are expected to be listed shortly.