Volatile bourse closes flatJuly 30, 2012, 12:00 pm
The Colombo bourse experienced a volatile day before closing a marginal 0.05 percent higher on Monday (30).
The All Share Price Index closed 0.05 higher, up 2.42 points at 4,935.51.
The Milanka Price Index of more liquid stocks gained 0.51 percent, up 22.15 points to close at 4,376.71 while the S&P SL20 lost 0.21 percent, down 5.76 points to close at 2,776.74.
"The bourse was on a volatile note with the All Share Price Index peaking at 23 points and dipping 12 points into negative territory half way into the session, but recovered to finally close flat for the day with a mere 2 point gain. Turnover continued to struggle with lower investor interest," Softlogic Equity Research said.
Turnover amounted to Rs. 288.2 million on a volume of 28 million shares changing hands during the day.
Foreign buying amounted to Rs. 42.8 million while foreign selling amounted to Rs. 41.7 million, generating a net inflow of Rs. 1.2 million. Year-to-date, the net foreign inflow amounted to Rs. 24.2 billion.
The Colombo bourse has fallen 18.7 percent so far this year.
"John Keells Holdings led the turnover following continued buying interest after the release of its results last Thursday with strong growth in earnings. The counter saw 263k shares changing hands and gaining 0.7% to close the day at LKR185.2," Softlogic Research said.
"Free Lanka Capital Holding, a retail favourite penny stock witnessed a surge in volumes with a number of large blocks trading on board with 12 mn shares trading during the day. The counter gained 5% to close at LKR 2.1. Dialog, the blue chip telecom provider, gained investor interest as it closed flat for the day.
"Aviva NDB Insurance which gained sharply amidst rumours continued with further buying interest as the counter reached a 52-week high of LKR338.0. Following its peak the counter lost momentum as its dipped sharply still close with a gain of 1.2% at LKR271.3.
"Vallibel Power, a hydro power company, regained interest following a long lapse. The counter witnessed some selling pressure while a large number of on-board deals were recorded. However, the counter dipped in value to finally close at LKR4.7 (-6.0%)."
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