Market ended in the red zone yesterday where both benchmark indices
closed with negative returns. Removal of 5% credit limit on margin
trading on shares for licenced commercial banks failed to prop up
investor confidence on stock market although the positive effects will
be felt in the future.
ASI dropped by 31.73 points (-0.54%) to close at 5,860.96 while
sensitive MPI closed at 5,105.41, a drop of 29.27 (-0.57%). Market
turnover was Rs.537.6 million.
Premier blue chip John Keells Holdings (Rs.314.0 million) was the
major contributor to the market turnover which accounted for almost 58%
of the total turnover value.
Two crossings of 150,000 and 600,000 shares were recorded in John
Keells Holdings at a price of Rs.170.00 and Rs.166.00 respectively. John
Keells Holdings closed at Rs.170.00, down Rs.3.30.
In addition, Aitken Spence Holdings (Rs.57.8 million) and Commercial
Bank (Rs.30.4 million) made notable contributions to the daily turnover.
Meanwhile, counters such as Environmental Resources, HVA Foods and
Swarnamahal Financial Services were among the heavily traded stocks
during the day.
Foreign participation accounted for 29% of the total market activity.
At the end of the trading foreign investors ended as net buyers with a
net foreign inflow of Rs.60.0 million.
Drop in prices of index heavy stocks Bukit Dharah (by Rs.67.40),
Sampath Bank (by Rs.3.60), Aitken Spence (by Rs.1.10) and Asian Hotels
and Properties (by Rs.5.10) contributed negatively to the market
Lanka Securities Research