Market moves to positive territory

After several weeks of weak market sentiments the Colombo stocks reflected a sign of recovery with an encouraging shift into the positive territory at the start of the week, largely on account of the favourable financial results expectations.

ASI increased by 58.71 points (+0.8%) to close at 7,377.86 while liquid MPI gained 23.53 points (+0.35%) to end at 6,760.41.

The market turnover was Rs 1.6 billion.

Browns & Company Plc (Rs 154.1mn) made the strongest contributions to the daily turnover while Nation Lanka finance Plc (Rs 150.0mn) and John Keells Holdings Plc (Rs 89.2mn) made noteworthy contributions.

Meanwhile counters such as Bogala Graphite Lanka Plc, Lankem Development Plc and Lanka Aluminum Industries Plc were trading actively during the market hours.

Foreign participation was 7 percent of the total market activity. At the end of the day foreign investors were the net buyers with a net foreign inflow of Rs 52.8 million. Lanka Securities Research