Market largely stayed in the negative territory for the day after making over 7% gains over the last 4 days. The dip in index heavy counters such as John Keells Holdings, Sampath and Commercial Bank dragged both ASPI and MPI down with indices losing 58 and 87 points respectively. Despite the anticipated market breather, turnover level remained above the Rs 1 Bn mark for the ninth consecutive day. Heavy retail activity was seen in Nation Lanka Finance, Kalpitiya Beach Resort, Central Investments & Finance and Asia Asset Finance. Foreigners remained bullish with net foreign inflows recording a value of Rs 175 Mn.
Banking, Finance and Insurance sector was the highest contributor to the market turnover (due to Nation Lanka Finance, Central Investments & Finance and Sampath Bank) and the sector index gained 0.51%. The share price of Nation Lanka Finance increased by Rs 0.70 (4.93%) to close at Rs 14.90 whilst Central Investments and Finance saw its share price surge by Rs 3.00 (37.97%) to close at Rs 10.90. Sampath’s share price slid Rs 1.00 (0.47%) to close at Rs 214.00.
Hotels and travel sector became the second highest contributor to the market turnover (due to Kalpitiya Beach Resort) and the sector index lost 2.55%. The share price of Kalpitiya Beach Resort decreased by Rs 0.40 (4.26%) to close at Rs 9.00. Diversified sector also contributed heavily towards the market turnover (due to John Keells Holdings) and the sector index lost 1.55%. The share price of John Keells Holdings lost Rs 2.40 (1.09%) to close at Rs 217.00.