The stay in the positive territory was short-lived as market resumed its downward trend amidst weak investor sentiment. Week started off with losses but on Wednesday the indices rebounded with slight gains, however failed to keep the positive momentum on the remaining two days of the week. The ASPI (All Share Price Index) fell by 2.93 per cent to 1532.2 points while the liquid MPI (Milanka Price Index) experienced a drop of 3.62 per cent points to close the week at 1635.4 points.

Ceylinco Insurance (CINS) saw 0.8 million of its shares trading during the week, generating the week's highest turnover of Rs.149.2 million. However the share price of CINS dipped by a noteworthy 12.4 per cent WoW to close at Rs.175 on Friday. The stock was subjected to a series of large trades throughout the week, which lead the counter dominating the trading activity on the first four days of the trading week. Total CINS contribution reflected 42.6 per cent of the total weekly turnover. Also helping market activity was the blue chip JKH demonstrating the second largest turnover for the week of Rs.33.9 million. JKH share was seeing trading within a price range of Rs.50-Rs.55 and ended unchanged for the week at Rs.51. During the week 0.7 million JKH shares changed hands.

Energy stock Chevron, that gained 0.54 per cent WoW to close at Rs.93.50 contributed Rs.11.5 million to the week's turnover. The counter traded at a highest price of Rs.95 and a lowest of Rs.93 with 0.1 million shares exchanging for the week. Banking sector stock, Seylan managed to attract considerable investor interest this week becoming the fourth highest contributor towards the weekly turnover.

Interest on Seylan stock came in the back of the news of a possible divestment by Ceylinco group of its stake of the bank. During the week 0.4 Seylan Bank shares were seen trading contributing Rs.10.8 million towards this week's market turnover. Seylan traded within a wide range of Rs.27 and Rs.32.50 during this week and closed down 1.6 per cent to Rs.31.25 per share on Friday.

The activity levels continued to remain thin in the back of cautious approach adopted by both retail and institutional investors. Market turnover for the week amounted to Rs.350.5 million during the week, which was 22.4 per cent lower compared to previous week's Rs.451.7 million. Meanwhile the average daily turnover for the week stood at Rs.70.1 million, down 37.9 per cent compared to last week.

Foreign purchases during the week stood at Rs.51.5 million while foreign sales totaled to Rs.15.9 million, down by 55.6 per cent and 82.8 per cent respectively. Higher foreign buying compared to selling resulted in a net foreign inflow of Rs.35.6 million compared to last week's inflow of Rs.23.4 million. The highest traded stocks during the week included Seylan Merchant, Vallibel, Lanka Cement, Ceylinco Insurance.

Indices returned to negative territory during the week with investors continuing to remain worried about the market fundamentals. Over the week the All Share Price Index (ASPI) lost 46.3 points while the Milanka Price Index (MPI) shed 61.4 points compared to last week's closing levels.

In the week ahead, we expect the market sentiment to remain weak as investors continuing to remain concerned about macro outlook. Furthermore the investors are likely to remain extremely cautious putting more pressure on activity levels.

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APB Lanka's brews receive world awards

Two premium brews from the Asia Pacific Brewery (Lanka) Ltd (APB Lanka) portfolio were awarded silver medals at the recently held, World Beer Championships 2008. The company's products competed with brands produced by international commercial brewers at the prestigious event., to secure medal wins in the Malt Liquor and Lager, Pilsner and Lager, and Ice Pilsner and Lager categories.

Chief Executive Officer of APB Lanka, Anton Rock Fernando, said 'We are extremely delighted that our brews have won yet again on a renowned international platform. The recognition we received earlier in the year at the Australian Beer Awards; and now the accolades at the prestigious World Beer Championships, are an affirmation that, our brews are of world class standards. Moving forward, we are committed to keep serving our consumers only the very best from our brewery.'

Lucky Lanka dairies awarded

Lucky Lanka Dairies (Pvt) Ltd. was awarded the Best Entrepreneur of the Year 2007. National Gold Award for Large Category of Business at the recently concluded Best Sri Lankan Entrepreneur of the Year organised for the 13th year by he Federation of Chambers of Commerce and Industries of Sri Lanka at the BMICH. Here the Managing Director Lucky Lanka Dairies Lal Keerthi Amrasiri Gunawardhana receiving the award from Chief Guest Deputy Minister of Fisheries Neomal Perera. Senior Vice President SLPIC Tissa Jayaweera looks on. Colombo Fort Group Corr. Michael M. Perera.

Indices return to negative territory

APB Lanka's brews receive world awards

Lucky Lanka dairies awarded