Good news from regulators lights market

The key benchmark opened in green yesterday following the following the favour able news received from the regulators regarding the credit issue. However during the mid-day trading the market lost the steam of its bull run and wiped out its early gains to end negative.

Market turnover reached Rs 4.6bn. ASI lost 36.63 points (-0.52 percent) to end at 7,014.11 where as sensitive MPI gained 9.7 points (+0.15%) to close at 6,436.89. Colombo Land & Development Plc (Rs 1.4bn) made the highest contributions to the turnover with active trading. Furthermore Vallibel one Plc (Rs 450.7mn) and Lanka Hospitals Plc (Rs 449.5mn) notably contributed to the daily turnover.

Meanwhile Panasia Power Plc, Seylan Development Plc and East West Properties Plc demonstrated active trading. Foreign participation amounted to 3.9 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 58.7mn. Lanka Securities Research