Stock Market Saw a Major Correction….15th Feb 2011

The All Share Price Index dipped by 204.0 points to close at 7,607.8 (-2.6%), whilst the Milanka Price Index also dipped by 24.1 points to close at 7,224.7 (-0.3%).
 

The total turnover was LKR 4,416.8 mn (USD39,749.4 k)  vs. 12-month average daily turnover   of LKR2,682.3 mn (USD24,139.4 k) whilst the volume traded for the day was 79,107.9 k against the 12-month average daily volume of 90,930 k.

Top traded counters were

Market closed in the red comparatively to the soaring turnover level yesterday but with healthy figures. Ceylon Tea Services shed some ground during the day on the back of selling pressure however contributed for circa 21% of the daily turnover. HVA Foods made its debut in the Colombo bourse listing 19,889.5 k shares subsequent to the IPO where the counter saw strong investor sentiments. Institutional and high net worth investors were seen active in Ashok Leyland and Commercial Bank whilst Lankem witnessed all round investor interest.
 

A net outflow of foreign funds were seen during the day, where foreign purchases amounted to LKR180.2 mn (USD1,621.6 k), whilst foreign sales amounted to LKR1264.2 mn (USD11,377.9 k).