MARKETS

Autodrome records highest price gain

Both indices continued to decline over the week with the ASPI falling by 2.22% to close at 6549.91 and the MPI declining by 1.67% to close at 5878.33.

Laugfs Gas Plc, JKH and Softlogic Holdings Plc led the turnover in value for the week, accounting for 45.51% of total turnover value.

The weekly turnover value decreased by 23.54% to Rs 6.82 billion, amounting to a daily average of Rs 1.70 billion, as against last week’s average value of Rs 1.78 billion. The number of shares traded decreased 23.64% to average 61.38 million over the week relative to last week’s average of 80.38 million shares.

The Power and Energy sector dominated the turnover in value for the week, accounting for 28.71% amounting to Rs 1.96 billion.

The Diversified sector accounted for 22.95% amounting to Rs 1.56 billion, while the Banking and Finance sector contributed 10.12% or Rs 689.64 million of total turnover value.

This week’s turnover volume too was generated mainly by the Power and Energy sector, accounting for 20.70% of total volume or 50.83 million shares. The Banking and Finance sector trailed behind with 17.30% of volume or 42.48 million shares being traded. The Diversified sector followed closely, accounting for 17.27% or 42.39 million shares. Market capitalization decreased marginally for the second consecutive week (2.2%) to close at Rs 2352.57 billion, as against last week’s close of Rs 2405.61 billion.

The week’s highest price gain was recorded by Autodrome Plc which closed at Rs 976.7 to represent a 14.64% gain. Sinhaputhra Finance Plc followed, closing at Rs 129.40 or 12.52%. The third highest gainer was Malwatte Valley Plantations Plc [NV], which gained 7.46% to close at Rs 7.20.

The major price loser for the week was Asian Alliance Insurance Plc, declining 29.14% from its previous price of Rs 339.10 to close at Rs 240.30. Infrastructure Developers Plc declined 26.67% to close at Rs 27.50. Blue Diamonds [NV] also topped the major losers’ list, decreasing 16.00% to close at Rs 4.20. Finlays Colombo Plc and Laugfs Gas Plc were also among the price losers for the week, declining 13.71% and 13.66% respectively. The bourse witnessed a substantial net foreign inflow of funds after a hiatus of three months; net foreign inflows for the week amounted to Rs 592.60 million, a weekly average of Rs 148.15 million. The foreign purchases amounting to Rs 1.21 billion was primarily attributable to a European-based fund buying into blue chip John Keells Holdings.

Laugfs Gas Plc topped the volume list accounting for 15.32% (or 37.60 million shares) of the week’s aggregate share volume. Blue Diamonds [NV] contributed 8.80% of the total share volume as 21.60 million shares changed hands over the week.

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