Negative sentiment continues

Colombo stocks ended in a negative territory yesterday with both benchmark indices recording losses. ASI lost 27.97 points (-0.41 percent) to close at 6,816.74 while liquid MPI closed at 6,332.93, a dip of 11.50 points (-0.18 percent).

Market turnover was Rs 845.0 million recording year to date lowest value.

Market RSI based on All Share Index further dropped to 24.5.

Royal Ceramics Lanka Plc (Rs 71.01 million) emerged as the top contributor to the turnover followed by John Keells Holdings Plc (Rs 66.2 million) and Blue Diamonds Jewellery Plc (Rs 56.8 million). RCL posted crossing of 419,700 shares at a price of Rs 155.50.

Furthermore Swarnamahal Financial Services Plc, Blue Diamonds Jewellery Plc (Non-Voting), Panasian Power Plc displayed aggressive trading.

Foreign participation was 11.1 percent of the total market activity. At the end of the day foreign investors were the net sellers with a net foreign outflow of Rs 21.9 million.

Lanka Securities Research