Market ends marginally positive

No expressive trend was indicated when market shut its operations with both indices closing in opposites yesterday.

The market held the negative zone in most part of trading but the market nudged higher in late trading to end marginally positive. ASI gained marginally by 3.69 points (+0.05 percent) to close at 7,349.17 and liquid MPI dropped 18.73 points (-0.27 percent) to close trading at 6,836.54. The market turnover was Rs 1.4 billion. Commercial Bank Plc (Rs 387.5 million) was the top contributor to the turnover with two off-the-floor deals of 1.4 million shares at a price of Rs 270.

In addition National Lanka Finance Plc (Rs 94.4 million) and Central Finance Company Plc (Rs 49.9 million) contributed heavily to the daily turnover. In the meantime high levels of trading were witnessed in Free Lanka Capital Holdings Plc, People s Leasing Finance Plc and Union Bank Plc. Foreign participation was picked up to 21.09 percent of the total market activity. At the end of the day foreign investors were the net sellers with a net foreign outflow of Rs 277 million. Lanka Securities Research