Market negative

Market opened for the week on negative note yesterday with both benchmark indices recording substantial losses. ASI lost 92.40 index points (-1.41%) to close at 6,557.51 while more sensitive MPI lost 66.94 index points (-1.14%) to close at 5,811.39.

Market turnover was Rs.978.2million.

Premier conglomerate John Keells Holdings was the top contributor to the market turnover with an amount of Rs.132.4mn and also saw a crossing of 300,000 shares at a price of Rs.200.00. John Keells Holdings today reached the high of Rs.212.00 and closed at Rs.199.70, down Rs.0.40.

Infrastructure Developers made the second highest contribution to the daily turnover (Rs.128.0 million). C.4.7 million shares changed hands as a single crossing at a price of Rs.27.50.

The quantity amounted to 95.8% of the issued capital of Infrastructure Developers.

The seller was the Malaysian based Fly Asia Sdn. Bhd and the buying party was Navara Capital (Pvt.) Limited. Infrastructure Developers closed at Rs.30.20, up Rs.2.70 (+9.82%).

Further, Dialog Axiata made Rs.53.7 million contribution to the turnover.

Meanwhile, Blue Diamonds voting and non-voting, Environment Resources and Tess Agro were among the mostly traded stocks during the day.

Foreign participation was 21.9% of the total market activity. At the end of the day foreign investors were net sellers with a net foreign outflow of Rs.181.1 million.