Tuesday, 23 December 2014 01:50
-
- {{hitsCtrl.values.hits}}
The Colombo stock market remained largely unchanged yesterday despite the unveiling of the key manifesto of Opposition’s common Presidential candidate Maithripala Sirisena on Friday.
The benchmark All Share Index was down by 1 point whilst S&P SL 20 Index was up by nearly one point. Turnover was Rs. 868 million.
Analysts said market and investors appeared insensitive to either benefits of Maithripala’s manifesto or negatives.
The manifesto vowed to cancel new gaming projects, a move which would have an impact on premier listed corporate John Keells Holdings. However JKH share price yesterday closed at Rs. 250, down by Rs. 1.30 after touching an intra-day high of Rs. 253.
According to political analysts, Maithripala’s manifesto covered far reaching issues including political reforms and private sector, economic, industrial and agriculture sector.
Lanka Securities said price declines in Ceylinco Insurance (down 5% to Rs. 1,330), and JKH negatively affected the ASI performance while price inclines in Cargills (Ceylon) (up 2% to Rs. 155) and Lion Brewery (up 0.3% to Rs. 612) contributed positively to the S&P SL20 index performance.
Foreign investors were net sellers for the day to the tune of Rs. 179 million mainly due to Commercial Bank though they remain net buyers amounting to over Rs. 21 billion year to date.
