CSE turnover hits 2 year low

Stock market turnover yesterday fell to Rs.393.89 million, the lowest in two years whilst indices were flat confirming sentiments were low in apparent reaction to the passing of controversial takeover bill by Parliament on Wednesday.

The All Share Price Index fell .25% to 6332.47 and the Milanka Price Index dropped .31% to 5651.87. Net foreign inflows were Rs.94 million.

John Keells Holdings and Sampath Bank were the top contributors to turnover accounting for 35% SC Securities said. It said bearish sentiment in the market continued with investor participation seeing a distinct reduction.

A crossing of 260,000 shares of John Keells Holdings at Rs.193 each contributed Rs.50.1 million to turnover.  Among the top gainers for the day were Miramar Beach Hotel which rose 26.16% to close at Rs.285, Ceylon Tobacco Company which rose 6.81% to close at Rs.431.50 and Taj Hotels which rose 6.47% to close at Rs.42.80.                



The top losers for the day included Udapusselawa which fell 13.01% to close at Rs.36.10 and warrants of SMB Leasing which closed 10% lower at .90 cents.