Shares crash as investors await Cabinet reshuffle

By Mario Andree

The Colombo Stock Exchange posted losses on Thursday (22) for the first time since in a week, as investors look forward to the Cabinet reshuffle expected to be announced this week.

The benchmark All Share Price Index (ASPI) on Thursday (22) slipped 0.41 per cent (27.19 points) to close at 6,571.54 points, while the S&P SL 20 representing the top 20 listed entities slipped 0.35 per cent (13 points) to close at 3,722.55 points.
The day’s turnover reached Rs 1.53 billion, higher than Wednesday’s (21) Rs 829.4 million, with 87 losers ahead of 48 winners. The Colombo Stock Exchange witnessed a net foreign inflow for the fifth consecutive day on Thursday (22) as foreign purchases amounted to Rs 859.7 million as against sales worth Rs 199.2 million.

Nearly 37.88 million shares changed hands on Thursday (22) during 4,415 trades taking place.
The share price of Ceylon Tobacco Company slipped 2.87 per cent (Rs 31) to close at Rs 1,049 as 300 shares changed hands during 3 trades, Carson Cumberbatch slipped 6.50 per cent (Rs 13.90) to close at Rs 200 as 15,346 shares changed hands during 9 trades, while the share price of John Keells Holdings slipped 0.50 per cent (80 cents) to close at Rs 159 as 661,073 shares changed hands during 27 trades.

On a positive note, the share price of Commercial Leasing and Finance gained 11.11 per cent (30 cents) to close at Rs 3 as 602 shares changed hands during 4 trades, Commercial Bank gained 0.72 per cent (Rs 1) to close at Rs 140 as 5.76 million shares changed hands during 122 trades, while the share price of Melstacorp gained 0.61 per cent (40 cents) to close at Rs 66.40 as 233,952 shares changed hands during 40 trades.