Browns debuts with top contribution
The stock market started the daily operations yesterday in a sluggish
manner on a dull environment. However during mid day trading the market
displayed a heavy recovery where indices shot up to the green territory
sharply.
ASI gained by 59.24 points (+0.91%) to end at 6,493.58 while
sensitive MPI increased by 33.88 points (+0.57%) to close at 5,928.45.
The market turnover reached Rs 2.0 billion. Browns Investments Plc (BLI)
which debuted secondary trading today made the biggest contributions to
the daily turnover with heavy trading at Rs 374.3mn. The counter
depicted another unsuccessful IPO debut with notable price depreciation.
BLI closed at Rs 4.80, down Rs 0.20. In addition Central Finance Company
Plc (Rs 341.5mn) and Softlogic Holdings Plc (Rs 92.0mn) made notable
contributions to the daily turnover.
Swarnamahal Financial Services Plc, Vallibel One Plc and Nation Lanka
Finance Plc demonstrated active level of trading.
Foreign participation accounted for 6.0% of the total market
activity. At the end of the day foreign investors were the net sellers
with a net foreign outflow of Rs 38.9mn.
Lanka Securities Research
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