JKH, HNB help up turnover

The Colombo bourse reopened for the week in red with both indices recording losses. The benchmark index ASI lost more than 100 points in the morning session but recovered some lost ground during the mid-day. However, the selling pressure pulled back the recovery in the latter part of the day and ASI closed at 5,995.92, a dip of 91.94 points (-1.5%).

The MPI declined by 90.63 points (-1.7%) to 5,155.95. The market turnover reached Rs 1.6bn largely supported by institutional deals in the index heavy John Keells Holdings (Rs 735.0mn) and Hatton National Bank (Rs 435.9mn). Notable domestic investor participation was seen in John Keells Holdings where a total of 4.1mn shares of John Keells Holdings changed hands at a price of Rs 162.00. These were mostly traded as large blocks ranging from 10,000 to 217,000. JKH closed at Rs 162.00, a dip of Rs 6.20 (-3.7%).

Moreover, 2.8mn shares of HNB were traded in three crossings at a price of Rs 145.00. HNB closed at Rs 145.00, down by Rs 5.00 (-3.3%). JKH and HNB contributed to 77% of the total market turnover.

On the other hand retail activity was seen in HVA (Rs 38.60,-4.0%), Expo Lanka (Rs 8.80, -5.4%), Lanka Hospitals (Rs 54.30, -0.6%) and Environmental Resources (Rs 50.10, -4.0%). At the end of the day there were 187 losers and 28 gainers.

Lanka Securities Research