ComBank deal pushes bourse up

27 December 2011 12:36 pm Views - 5464

The Colombo bourse started the last trading week of 2011 on a positive note with both indices recording notable gains for the third consecutive day.

ASI jumped by 32.51 points (+0.5%) to close at 6,015.09 and sensitive MPI increased by 36.25 points (+0.7%) to settle at 5,226.11. The market turnover reached Rs.995.8mn supported by off-the-floor deals in Commercial Bank.

During the day, foreigners sold a total of 7.6mn shares of Commercial Bank in four crossings at a price of Rs.100.00. The buyer was believed to be a local party. Commercial Bank was the top contributor (Rs.795.6mn) to the day’s turnover and accounted for 80% of the total turnover. Commercial Bank closed at Rs.100.50, up by Rs.0.40.

Moreover Regnis Lanka (Rs.23.8mn) and Environmental Resources Investments (Rs.20.1mn) made notable contribution to the market turnover.

On the other hand retail investor interest was seen in counters such as HVA foods (Rs.37.00,-0.3%), Blue Diamonds – nonvoting (Rs.3.80,0%) and Panasian Power (Rs.4.20,+2.4%).

Foreign participation stood at 41.7% of the total market activity and at the end of the day foreign investors were the net sellers with a net foreign outflow of Rs.788.2mn.