Bears continues to dominate Colombo Stock Market
Bear Markets last for months or even years. Most investors get fooled by short-term upside movement during this prolonged bear markets. Some people buy speculative stocks during these short-term spike and attract further losses towards them. Only handful of stocks with strong valuations may keep their share prices less vulnerable to sharp falls. For example Commercial Bank of Ceylon managed to keep their price around Rs 100.00 level during past few months because of its strong fundamentals.
At the end of the Thursday’s trading All Share Price Index dipped by further 2.3 percent or 125.26 points to close at 5316.99 while Milanka closed at 4627.14, down 94.65 points. Day’s total market turnover was amounted to Rs 870.81 million.
Commercial Bank Plc (COMB) has declared cash Dividend of Rs.1.50 per share & Scrip Dividend (Voting & Non-Voting) Scrip Dividend Voting Proportion : 01 for 56.33 shares Number of Shares to be issued : 13,581,396 Non-Voting Proportion : 01 for 47.22 shares Number of Shares to be issued : 1,108,902. COMB voting shares closed at Rs 101.00, down 40 cents.
Index heavy BUKI lost 48.70 to close at Rs 896.60 while Hatton National Bank closed 8.40 lower at Rs 139.50. John Keells Holdings (JKH) lost 1.30 to close at Rs 163.60. 1,256,600 shares of JKH traded during the day. Softlogic lost one rupee to end the day at Rs 13.90. 186 stocks closed lower than previous day while only 26 stocks closed positively.
In view of 10-02-2012 being declared a Special Bank Holiday in lieu of Holy Prophet s Birthday which falls on Sunday, please note that 10-02-2012 has been declared a Holiday by the CSE.Tags: Asian Markets, Bear Market, Colombo Stock Exchange, cse
Filed under: Daily Stock Market Report
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