Indices decline on profit taking

Indices at the Colombo Stock Exchange declined on profit taking today, though turnover remained high on large parcels of a Venture Capital changing hands and retail participation.
 

The broader market ASPI closed down 35 points (-1 percent) to end the day at 3,529, while the more sensitive MPI closed down 25 points (-0.6 percent) at 4,074. Turnover for the day was Rs 1.7 billion with 39 million shares of Lanka Ventures changed hands at Rs 18.00. This block represents 78 percent of the company’s issued shares which were held by DFCC Bank (58 percent) and Hatton National Bank (20 percent). The buyer of these stakes has not been disclosed yet, but is thought to be an entity related to both DFCC and HNB.
 

Turnover from Lanka Ventures shares came to Rs 709 million, while the share closed the day at Rs 17.00. For the day 44 shares gained in value while 112 declined. Foreign purchased amounted to Rs 139 million while foreign sales amounted to Rs 277 million.
 

MTD Walkers, an engineering company, gained Rs 103.50 (37 percent) to close at Rs 382.75, after reaching an all time high of Rs 405 during the course of the day. Turnover from the company shares came to Rs 52 million.  Ceylinco Insurance voting shares closed down Rs 15.00 on turnover of Rs 106 million, while the non voting share closed at Rs 150.00
 

Asian markets were mixed with India’s Sensex and China’s CSI both gaining 0.5 percent, while the Nikkei and Hang Seng Indices lost 1 percent. Singapore’s Straits Times Index was up 0.1 percent at the close of trading. (First Guardian)