Bearish slump at bourse on the heels of unfavourable corporate results

The CSE witnessed a bearish trend for the third consecutive day yesterday mainly due to largest profittakings coupled with unfavourable corporate quarterly results in certain business sectors, market analysts said.

- By Hiran H.SENEWIRATNE

Amid those developments both indices moved downwards. The All Share Price Index went down by 212.43 points, while the S and P SL20 declined by 24.16 points. Turnover stood at Rs 4.46 billion with eight crossings.

The top seven companies that contributed to the turnover were; CTC, which crossed 127,397 shares to the tune of Rs 127 million and its shares traded at Rs 1700, Hemas Holdings 5.5 million shares crossed for Rs 195.6 million; its shares traded at Rs 35.50, Laugfs Gas 593,000 shares crossed for Rs 43.6 million, its shares traded at Rs 64, Central Finance 100,000 shares crossed for Rs 30.1 million; its shares traded at Rs 301, Tokyo Cement ( NonVoting ) 300,000 shares crossed for Rs 22.8 million; its shares traded at Rs 76 and Zenid 1.2 million shares crossed for Rs 21,5 million; its shares sold at Rs 17.90.