Colombo Bourse remains lacklustre

By Dinali Goonewardene

THE Colombo Bourse saw foreign sales of Rs.260 million and net foreign sales of Rs.175 million yesterday as the market edged down. The All Share Price Index fell .4% to 6710.67 while the Milanka Price Index dropped .47% to 5999.28. Brokers said it was evident foreign funds were selling shares of Nestle when there were three crossings of 108,500 shares, 60,000 shares and 40,000 shares at Rs.875 which contributed Rs.182.4 million to turnover. Approximately 234,800 shares of Nestle were traded on the main board.

The share closed down Rs.14.30 at Rs.875.50.

Other heavily traded counters included Colombo Land which saw 2.7 million shares trade contributing Rs.185 million to turnover and Regnis which saw 483,400 shares trade contributing Rs.180 million to turnover. Colombo Land and Development Company shares closed up 50 cents at Rs.65.90 and Regnis  at Rs.56.20 lower at Rs.396.90. Brokers said retail investor sentiment was weak. World Markets saw mixed results.