Market in festive mood

Positive mood prevailed in the Colombo bourse with the start of the new week. ASI climbed by 40.4 points (+0.54 percent) to close at 7,454.22 while liquid MPI witnessed a marginal gain of 0.65 points (+0.01 percent) to close at 7,021.87.

Daily market turnover was low at Rs 1.5 billion.

Commercial Bank of Ceylon Plc (COMB) emerged as the top contributor to the turnover (Rs 277.4 million) followed by Browns and Company Plc (Rs 150.8 million) and Lion Brewery Ceylon Plc (Rs 104.2 million).

COMB recorded an off-the-floor deal of 1 million shares at a price of Rs 275.00.

Meanwhile high levels of activity were seen in stocks such as PC House Plc, Colombo Fort Land and Building Plc and Union Bank Plc.

Foreign participation was 22.8 percent of the total market activity. At the end of the day foreign investors were the net buyers with a net foreign inflow of Rs 28.4 million.

Lanka Securities Research