Price band for Ceylon Tea Brokers

The Sri Lankan market ended its winning streak on Monday and closed on a negative note yesterday mainly on account of the apparent profit realizing behaviour in the market.

ASI closed at 6,956.21, down 41.82 points (-0.59%) while liquid MPI closed at 6,293.08, down 33.83 points (-0.53%). The market turnover was notable at Rs 3.2bn.

Browns Investment Plc (Rs 495.6mn) was the top contributor to the turnover along with East West Properties Plc (Rs 251.7mn) and HVA Foods Plc (Rs 196.0mn).

In addition Browns Investment Plc and East West Properties Plc depicted active level of trading during the day.

Furthermore Browns Investment Plc recorded a crossing of 16.1mn shares at a price of Rs 5.70.

10 percent price band was imposed on Ceylon Tea Brokers with effect from September 7 to September 13.

Textured Jersey which commenced its secondary trading below its IPO price of Rs.15, appreciated above the introductory level yesterday to reach the all time high of Rs 15.70 for the first time and closed at Rs 15.10.

Foreign participation stood at 6.21 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 119.3mn.

Lanka Securities Research