ASPI dips below 23,000 index points as days-long bull run fizzles out

The All Share Price Index dipped below 23000 index points yesterday after eleven days of bullishness consequent to selling pressure exerted by investors for higher returns, market analysts said.

- By Hiran H SENEWIRATNE

Further, the weakening of the rupee against the dollar also added insult to injury, analysts added.

Amid those developments both indices moved downward. The All Share Price Index went down by 111.13 points while the S and P SL20 declined by 7.57 points.

Turnover stood at Rs 3.82 billion with ten crossings. Those crossings were reported in Hatton Plantations where 10.9 million shares crossed to the tune of Rs 297.7 million; its shares traded at Rs 27.70, Commercial Bank 300,000 shares crossed for Rs 63.2 million and its shares traded at Rs 210.50, Pan Asia Bank 825,000 shares crossed to the tune of Rs 51.97 million; its shares sold at Rs 63.