Market ends lacklustre week
The Stock market endured a lacklustre week of trading with both
indices ending on a red note. Benchmark ASI dropped 118.08 points WoW
(-1.6 percent) to close at 7,456.82 and liquid MPI lost 117.14 points
WoW (-1.7 percent) to close at 6,947.11.
Average daily turnover of the week was low at Rs 1.7 billion (-42.7
percent WoW). Foreign participation was 12.7 percent of the total market
activity and at the end of the week foreign outflow outweighed the
foreign inflows by Rs 865.9 million.
The Colombo stock market fell on Monday after erasing early gains in
the morning session. ASI weakened by 27.07 points (-0.35 percent) to
close at 7,547.79 and MPI lost 25.55 points (-0.36 percent) to close at
7,038.70. NDB (Rs 700.3 million) was the largest contributor to the
market turnover followed by the newly listed Free Lanka Capital Holdings
Plc (Rs 524 million) and Central Finance Company Plc (Rs 256 million).
Meanwhile high level trading were seen in stocks such as Union bank,
Lanka Aluminum and Alufab.
On Tuesday, the market extended its losses for the second consecutive
trading day. ASI closed at 7,475.16, down by 72.63 points (-0.96
percent) while MPI closed at 6,944.79 down by 93.91 points (-1.33
percent). Aitken Spence Company Plc (Rs 166.8 million), Free Lanka
Capital Holdings Plc (Rs 92.6 million) and Bairaha Farms Plc (Rs 59.1
million) were the major contributors to the daily turnover.
In addition Lanka Aluminium Industries Plc, Union Bank Plc and Arpico
Finance Company Plc were actively traded during trading hours.
After a green opening the Colombo stocks closed around the day's low
on Wednesday. ASI slipped down marginally by 0.66 points (-0.01 percent)
to close at 7,474.50 and more sensitive MPI showed a moderate decline of
7.64 (-0.11 percent) to close at 6,937.16.
Aitken Spence Company Plc (Rs 167.1 million), Aitken Spence Hotels
Plc (Rs 141.6 million) and Central Finance Company Plc (Rs 126.7
million) emerged as the strong contributors to the market turnover where
as active level of trading were witnessed in National Lanka Finance Plc,
Lake house Printers and Publishers Plc and the newly listed company Free
Lanka Capital Holdings Plc. The market ended its operations on Thursday
on a subdued manner reflecting increased investor risk averseness. ASI
lost 17.68 points (-0.24 percent) to close at 7,456.82 and MPI ended at
6,947.11 down by 9.95 points (-0.14 percent).
High level of contribution was made to daily turnover by Ceylon Grain
Elevators (Rs 100.2 million), Diesel and Motor Engineering Plc (Rs 91.5
million) and Dialog Telekom Plc (Rs 82.1 million).
In addition counters such as Lankem Development Plc, Free Lanka
Capital Holdings Plc and National Lanka Finance Plc were aggressively
traded. Lanka Securities Research
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