Bourse opens negative

Colombo bourse opened for a new week yesterday on a negative territory as ASI lost 32.85 index points (-0.48%) to close at 6,744.19 whereas more sensitive MPI closed at 6,249.32, a drop of 61.80 index points (-0.98%).

Daily market turnover stood at Rs 1.3 billion.

Expo Lanka emerged as the top contributor to the market turnover (Rs 217.3mn) followed by Softlogic Holdings (Rs 181.0mn) and Swarnamahal Financial Services (Rs 117.0mn).

Above top turnover counters traded heavily during the day with more investor participation.

Foreign participation was lower and it accounted for 6% of the total market activity. At the end of the day foreign investors were net sellers with a net foreign out flow of Rs 2.6mn.

Drop in prices in index heavy John Keells Holdings (by Rs 6.30), Carsons Cumberbatch (by Rs 9.10) and Bukit Darah (by Rs 29.30) contributed adversely to the market performances.

Lanka Securities Research