Market continues free fall
Colombo All Share Index was down by 59.81 points as the bears still dominate the Colombo Stock Exchange. SEC’s relaxation of broker credit rules on Monday didn’t help the market to recover. Despite good valuations it is becoming very hard to predict the recovery.
Most of investors prefer short term speculative trades for quick bucks rather than long to medium term investments. However it is safe to buy stocks with good dividend payments track records and lower PER.
Day’s turnover was amounted to 952.46 million rupees. Commercial Bank of Ceylon Plc (COMB) was the single largest contributor for the total turnover. 2,218,700 shares of COMB traded and closed 20 cents lower at Rs 100.00. Asia Asset Finance Ltd (AAF) continues to trade in large parcels. 23,529,800 shares of AAF changed hands and closed 1.60 higher at Rs 7.10.
138 stocks closed lower while only 51 stocks managed to close higher. Index heavy weighted BUKI lost 49 rupees to close at Rs 1000.00 but only 200 shares done. HDFC lost 50 rupees on 100 shares to close at Rs 1300.00. On positive side, illiquid Pargon Ceylon Plc was up by 440 to close at Rs 1400.00. 1,104,000 shares of Ceylon Tea Brokers Plc traded during the day and closed at Rs 7.40, up 40 cents. John Keells Holdings closed 90 cents higher at Rs 160.10.
Foreigners were net byers with a thin margin. Net foreign inflow was amounted to Rs 8,008,456.00.
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Tagged with: Colombo Stock Exchange • cse • daily
Filed under: Daily Stock Market Report
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