Lowest turnover for this year

Weak sentiments of the Colombo bourse further prevailed yesterday as benchmark ASI further neared its strong support level at 6,250.

ASI decreased by 40.8 points (-0.64%) to end at 6,347.72 while liquid MPI dipped by 27.47 points (-0.45%) to settle at 5,704.83.

Market turnover was substantially low at Rs.687.1mn, the lowest recorded during the year.

Panasian Power Plc emerged as the highest contributor to the turnover with an amount of Rs.119.9mn. A single crossing of 24.5mn shares of Panasian Power was recorded at a price of Rs.4.50 per share. In addition HVA Foods Plc (Rs.35.6mn) and John Keells Holdings Plc (Rs.31.0mn) recorded notable contributions to the daily turnover.

During the day Blue Diamonds Jewellery non-voting, Colombo Land and Development Plc and Asian Alliance Insurance Plc demonstrated active trading.

Foreign participation stood at 13.57% of the total market activity and at the end of the day foreign investors were the net sellers with a net foreign outflow of Rs 136.7mn.

Lanka Securities Research