Blue-chips top turnover

Market ended on negative note yesterday with both benchmark indices recording notable losses despite the gains recorded during last two days. ASI lost 78.31 index points (-1.22%) to close at 6,346.05 while sensitive MPI closed at 5,654.35, drop of 79.41 index points (-1.38%).

Market activity level was relatively low and daily market turnover was Rs 700.0mn. Premier blue-chip John Keells Holdings Plc (Rs 99.1mn) topped the turnover list closely followed by HVA Foods (Rs 70.4mn) and Serandib Hotels (Rs 61.4mn) with heavy trading. Meanwhile People’ Merchant Bank Rights, Seylan Bank non voting and Radiant Gems international were among the mostly traded stocks during the day.

Profit taking was witnessed in Seylan Bank counters as the company released improved quarterly results. Seylan Bank voting share today touched a high of Rs 74.50 and closed at Rs 69.00, a dip of Rs 2.30 (-3.2%) and Seylan Bank non-voting share closed at Rs 32.00, down Rs 2.10 (-6.2%). Foreign participation was 12% of the total market activity. At the end of the day foreign investors ended as net buyers with a net foreign inflow of Rs 24.7mn

Lanka Securities Research