Market negative

The Colombo Stock exchange started the new week on negative dynamics where benchmark indices fell sharply throughout the day. Furthermore all the sectors except for oil palm sector depicted considerable losses. ASI dipped by 118.04 points (-2.04%) and ended at 5,663.09 while sensitive MPI declined by 105.18 points (-2.14%) to settle at 4,811.71.

Market turnover stood at Rs.827.3mn.

Swarnamahal Financial Plc (Rs.82.1mn) made the strongest contribution to the daily turnover along with Waskaduwa Beach resort Plc (Rs.56.2mn) and John Keells Holdings Plc (Rs.46.8mn).

Asia Asset Finance Plc, Environmental resources Plc and HVA foods Plc recorded heavy trading during the day.

Foreign participation stood at 3.8% of the total market activity and at the end of the day foreign investors were the net sellers with a net foreign out flow of Rs.41.9mn.

Lanka Securities Research