No new investment at Colombo bourse
2008-10-22 11:40:41

Colombo stocks opened on Wednesday on a listless mode with stock analysts saying there is no new money coming into the market and that this crunch will be seen throughout for some weeks.

John Keells Holdings (JKH), under relentless tension after the LMSL judgment saw 125, 800 shares trading at Rs 65 per share, down Rs 2 from previous levels during late morning. “The retailers are selling heavily and some shares bought by them on credit are being forced to be sold by their brokering firms,” Vajira Premawardhana, Executive Director, Lanka Orix Securities said, adding that the stock market will see more of this during the next coming weeks.

The All Share Index was down by 1.25 points to 1,922.47 while the Milanka eased by 7.02 points to 2,149.08 late morning. Turnover was Rs 92 million at the time.