Bourse records a slow start

Colombo shares ended lower today as both benchmark indices recorded losses. ASI dropped 22.71 points (-0.33%) to close at 6,967.62 while sensitive MPI lost 15.89 index points (-0.25%) to close at 6,271.04. Market turnover stood at Rs.2.3bn.

 

Tess Agro Plc (Rs.312.4mn) and Ascot Holdings Plc (Rs.252.7mn) topped the turnover list with heavily retail activity. However at the end of the trading the 10% price band was imposed on both shares by the regulator. Premier blue-chip John Keells Holdings Plc made the third highest turnover of Rs.154.9mn with 700,000 shares changed hands as a single crossing at a price of Rs.215.00. JKH closed at Rs.213.00, down Rs.2.10.

 

Meanwhile, Panasian Power Plc, Amana Takaful Plc and United Motors Plc were among the mostly traded stocks during the day.

 

Foreign participation accounted for 8.4% of the total market activity and at the end of the day foreign investors were net sellers with a net foreign outflow of Rs.232.9mn.