Market sees decline

The key indices at the Colombo Stock Exchange continue to decline with the broad-market ASPI coming down by 7 points (-0.3%) to close at 2433 and the MPI coming down by 8 (-0.3%) points to 2,912.

Turnover for the day was at Rs. 187.8 million, driven mainly by interest in East-West Properties (Rs 41.1 million) and Hayleys (Rs. 21.9 million.)

Haycarb informed the market of the sale of the assets of its fully owned subsidiary Kinetics (Pvt) Ltd. The company did not disclose sale proceeds. Kinetics had been incurring losses for several years and its disposal is expected to improve Haycarb's future profitability.

Notable price gains for the day came from Vallibel Power Erathna (VPEL) up 21.5% to close at Rs 2.80 and Good Hope declined 10% to close at Rs 180.00.

Source: First Guardian Equities