Market negative

Colombo stocks re-opened the trading for a new week yesterday with thin trading volumes where both benchmark indices closed with negative returns. ASI lost 31.44 index points (-0.52%) to close at 5,965.00 while sensitive MPI closed at 5,228.40, a marginal drop of 2.72 points (-0.05%). During the day fundamentally sound stocks regained the momentum while illiquid stocks closed with notable loses.

Daily market turnover stood at Rs 664.6 million.

Distilleries Plc (Rs 168.2 million) topped the turnover list followed by John Keells Holdings Plc (Rs 123.2 million) and Commercial Bank Plc (Rs 35.0 million). Further, approximately 1.1 million shares of Distilleries Plc changed hands as five crossings at a price of Rs 150.00 per share.

Janashakthi Insurance Plc, HVA Foods Plc and John Keells Holdings Plc were the mostly traded stocks during the day.

Foreign participation was relatively high and it accounted for 28% of the total market activity. At the end of the day foreign investors were net buyers with a net inflow of Rs 5.0 million.

Lanka Securities Research