Turnover hits 12-week high

ASPI edged up due to price gains in counters such as Singer Sri Lanka, Ceylon Cold Stores and Ceylon Tobacco Company whilst S&P SL20 closed in red. The turnover crossed Rs 2.0 Bn for the day marking a 12 week high. The purchase of 80.3% in stake in Colombo Trust Finance by Dialog Axiata from Cargills Bank was the largest transaction for the day, which accounted for 52.7% of the turnover. Mixed interest was observed in Teejay Lanka whilst retail interest was noted in Singer Sri Lanka and Maskeliya Plantations. Meanwhile, foreigners remained active closing as net sellers mainly due to foreign selling in Commercial Bank.

Banks, Finance and Insurance sector was the top contributor to the market turnover (due to Colombo Trust Finance, Commercial Bank and Hatton National Bank) whilst the sector index lost 0.31%. The share price of Colombo Trust Finance increased by Rs 2.20 (13.33%) to close at Rs 18.70. The share price of Commercial Bank recorded a loss of Rs 0.40 (0.29%) closing at Rs 136.00 whilst foreign holdings decreased by 576,732 shares. The share price of Hatton National Bank declined by Rs 0.80 (0.34%) to close at Rs 232.00.

Diversified sector was the second highest contributor to the market turnover (due to John Keells Holdings and Melstacorp) whilst the sector index decreased by 0.39%. The share price of John Keells Holdings edged up Rs 0.10 (0.06%) to close at Rs 160.60. The share price of Melstacorp moved down by Rs 1.00 (1.69%) to close at Rs 58.00.

Furthermore, Cargills and C T Holdings announced their interim dividends of Rs 1.90 and Rs 1.80 per share respectively whilst Hikkaduwa Beach Resorts announced its first & final dividend of Rs 0.09 per share.