Bourse continues negative trend

Colombo stocks continued to end in a negative territory with both benchmark indices recording notable losses. ASI lost 57.34 (-0.79%) index points to close at 7,213.33 while more sensitive MPI closed at 6,691.33 losing 43.00 points (-0.64%). Daily market turnover reached Rs 1.7bn.

Royal Ceramic Plc recorded Rs 535.4mn turnover and topped the turnover list while 1.0mn shares changed hands as a crossing at a price of Rs 165.00. RCL closed at Rs 158.00, up Rs 6.80. further, Asian Hotels and Properties (Rs 188.5mn) and Distilleries (Rs 124.0) made significant contribution to the market turnover.

Manufacturing, Bank Finance and Insurance and Hotels and Travels sectors emerged as top contributors to the turnover. Manufacturing is the only sector that witnessed a positive index movement yesterday.

Nation Lanka Finance, Union Bank and Free Lanka Capital Holdings traded heavily during the day.

Relatively low foreign activity level was seen throughout the day where it accounted for 8 percent of the total market activity. Foreign investors ended as net foreign buyers with a net inflow of Rs 148.6mn

Lanka Securities Research