The highest contributor to the weekly turnover value was the Banking and Finance Sector with over 28 percent contribution driven by trading in shares of NDB, and Central Finance. Second highest contributor to turnover was the Diversified sector, seeing a contribution of over 20 percent whilst Manufacturing sector was the third highest contributor this week with 10.2 percent of total turnover. The drop in the indices was influenced by the down wardmovement seen in almost all prices, especially with those in Oil Palms sector which lost 5370.79 points followed by the Services sector which lost 3472.76 points.
Free Lanka featured as the highest contributor to turnover this week as the share closed at Rs 5.50 from opening price of Rs 5.00 with 129.8 million shares changing hands, as the counter represented 10.8 percent of this week's total turnover amounting to Rs 751.04 million. National Development Bank was placed second highest contributor with turnover of Rs 715.71 million as 4.43 million shares crossed for the share to close at Rs 172.20 which accounted for 10.3 percent of the weekly turnover. Central Finance also witnessed 453.27 million worth of shares being traded this week with the share price closing at Rs 1404.60, accounting for 6.5 percent of the weekly turnover.
Paragon was this week's Top Price Gainer as the share closed at Rs 1012.50, recording a price gain of 237.5 percent, while Print Care also saw its share price rising by 108.8 percent to close at Rs 295.40. Huejay witnessed a share price increase of 61.1 percent as the share closed at Rs 240.4. Other price gainers were Miramar, Gestner, and Hayleys Exports which saw price increases of 60.8 percent, 58.4 percent and 30.4 percent respectively.
The list of Top Losers this week was headed by E-Channeling which saw its share price dip to Rs 3.90 from its opening price of Rs 29.00, a decrease of 86.6 percent. Second on the list was Singalanka which saw its price dip by 44.3 percent to close at Rs 1304.20 from the opening price of Rs 2339.40.
Union Chemicals also witnessed a price decrease as the share closed at Rs 868.30 from Rs 1002, with a decrease of 13.3 percent. Free Lanka shares were the most traded this week as nearly 48 percent of the weekly volume in turnover was brought about by trading in the share resulting in turnover of Rs 751 million. Dialog was the second most popular share as Rs 120.2 million worth of shares brought in 4.3 percent of weekly turnover in volume. Other popular shares were Nation Lanka, SMB Leasing, and Panasia Power.
Foreign investors took a back seat this week as both buying and selling witnessed contractions. Foreign buying shrank by over 53 percent to record daily average purchases of Rs 112.63 million as against last week's Rs 241.14 million daily average purchasing while foreign selling averaged at Rs 329.10 million daily compared with last week's Rs 732.82 million daily average, a contraction of 55 percent. Foreigners closed the week as net sellers amounting to Rs 865.88 million.
SMB Leasing shares were the most traded this week as it accounted for 7.9 percet or 5.5 million shares, of the week's total turnover in volume. The share closed at Rs 2.10.
The bourse closed the week's trading with both indices recording a decline on the back of selling pressure by retail investors. Illiquid stocks have continued to attract investor interest driving its prices upward however on relatively small volumes. Institutional buying into selected stocks should continue into the week ahead while the credit crunch continues to curtail liquidity in the market.
source - www.dailynews.lk
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