MPI gains

Investors at the CSE opted to buy into the large cap and liquid stocks with the MPI gaining 5 points (+0.2 percent) to end at 2,500 while the broader ASPI dropped a point to close at 2,821.

Turnover of Rs 258 million came from John Keells Holding (turnover of Rs 88 million, share closed up a rupee at Rs 131.25 ), Lanka Cement (turnover of Rs 16 million, share closed down Rs 1.75 to Rs 28.25) and Commercial Bank (Rs 10 million in turnover, share closed up 50 cents at Rs 144.00). Sri Lanka Telecom and Dialog at Rs 42.00 and Rs 5.25 unchanged.

Renuka Holdings announced a Rights Issue of one ordinary share and one non-voting share for every six shares at the rate of Rs 25.00 and Rs 15.00 respectively.

RHL shares gained Rs 6.75 to end at Rs 74.00. RHL also announced a dividend of Rs 2.00 per share. Most Asian markets were down for the day with the Chinese Shanghai Composite Index losing more than 6 percent for the day and India's Bombay Sensex was down more than 4 percent.

Source: First Guardian Equities