Market down

The bourse displayed a significant setback today with heavy losses in both indices. Furthermore all the sectors in the market recorded notable losses during trading. ASI closed 6,767.59, down 144.41 points (-2.1%) while MPI closed at 6,274.45, down 112.52 points (-1.8%) Market turnover recorded at Rs 1.9 billion.

Trans Asia Hotels Plc (Rs 253.7 million) emerged as the top contributor to the turnover.

In addition debutant Vallibel One plc (Rs 232.3 million) and Orient Garment Plc (Rs 206.4 million) made noteworthy contributions to the daily turnover with displayed heavy trading.

Foreign participation was 7.4% of the total market activity.

At the end of the day foreign investors were the net sellers with a net foreign outflow of Rs 2.7 million.

Price depreciation in index heavy counters such as John Keells Holdings Plc (down Rs 5.10), Sri Lanka Telecom Plc (down Rs 0.60) and Commercial Bank Plc (down Rs 4.00) hampered the overall market performances.

Lanka Securities Research