Foreign interest in the market failed to lure domestic retailers back
Posted on the October 14th, 2011 under Market Reports by Asia Wealth Management 
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The All Share Price Index shed 18.2 points to close at 6586.0 points (-0.3%)whilst the Milanka Price Index gained 4.6 points to close at 5910.5 points (0.1%)
Total turnover stood atLKR1,207mn (USD10,957 k) vs. 12-months average daily turnover of LKR2,663.3 mn (USD24, 167.5 k) whilst the volume traded for the day was 51,133k against the 12-months average daily volume of 109,778k.
Top contributory counters towards turnover for the day were Regnis Lanka LKR115 mn (USD1, 044.2k,-5.2%), John Keells Holdings LKR85mn (USD771.9k, 0.5%), Serendib Hotels LKR84mn (USD766k, 4.9%), Vallibel OneLKR78.2mn (USD709.2k, -0.4%) and Citrus LeisureLKR77 mn (USD701k, 4.6%).
The ASI cumulatively lost over 100 points over the week as a turnaround in foreign interest in the market failed to lure domestic retailers back into the market. This could be observed by the weak turnover which was just slightly above LKR1.2 bn. The MPI had a more turbulent experience, with the index just managing to stay out of the red to close at 5910.54 points. Premiere blue chip counter John Keells holdings continued to benefit from renewed foreign institutional interest, which led to 2 crossings amounting to 350,000 shares at a price of LKR200 which accounted for 80% of its turnover. The following crossings took place over the course of the day, Vallibel one saw 1,800,000 shares changing hands at a price of LKR26.70 and Distilleries Company of Sri Lanka with 202,200shares trading at a price of LKR170.60
Foreign purchases amounted to LKR161.2 mn (USD1, 462.6k), whilst foreign sales amounted to LKR95.1mn (USD863k).
Market capitalization stood at LKR2,365.5bn. YTD performance is -0.8%
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