Bourse in upward trend

The bourse continued its momentum from Friday and endured another encouraging day with several rallies witnessing on broad range of counters.

ASI increased by 67.42 points (+1.06%) to end at 6,424.36 while liquid MPI jumped by 58.9 points (+1.03%) to close at 5,733.76. Market turnover stood at Rs 949.4mn.

HVA foods Plc recorded the highest turnover with an amount of Rs.200.7mn.

The counter witnessed a notable rally during the day while displaying heavy trading. HVA closed at Rs 46.90, up Rs 5.40. In addition Seylan Bank Plc and Colombo Land & Development Plc recorded turnover level of Rs 116.7mn and Rs 60.3mn respectively.

Meanwhile People’s merchant bank Banks rights (which commenced trading today), Seylan Bank nonvoting and East West Properties Plc demonstrated active level of trading.

Foreign participation was registered at 7.0% 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 11mn.

Lanka Securities Research