MPI gains

ASI lost 3.58 (0.07%) points to close at 4,925.06, MPI gained 0.98(0.02%) points to close at 4,360.66 and the S&P index lost 0.05 points to close at 2,796.46 points. Turnover for today was Rs. 125 million.

Highest contributors to turnover were Carsons with Rs. 20 million, LOLC with Rs. 8 million and Overseas Realty with Rs. 7.8 million. The market showed low activity today as investors were generally taking a #look and see# approach to the prevailing economic situation. We are currently seeing a period where turnover levels are low and the indices move marginally from their previous close. Most active counters for the day were Renuka Agri, Swarnamahal Financial Services and PC House.

Renuka Agri lost Rs. 0.40 (8.5%) to close at Rs. 4.30, Swarnamahal Financial Services lost Rs. 0.30 to close at Rs. 6.30 and HDFC lost Rs. 2.10 to close at Rs. 51.

Meanwhile the biggest gainers for the day were Aitken Spence Hotels with Rs. 2 to close at Rs. 68, Royal Ceramics with Rs. 2.40 to close at Rs. 92.70 and Textured Jersey with Rs. 0.20 to close at Rs. 8.30. Foreign participation was 12.1% of market turnover and they were net sellers of Rs. 8.5 million.