Foreign purchases boost turnover

ASPI closed in red as a result of price losses in counters such as Dialog Axiata, Hatton National Bank and Lion Brewery. A similar behavior was witnessed in S&P SL20. The turnover crossed Rs 1.2 Bn for the day. High net worth and institutional investor participation was witnessed in Softlogic Life and Lion Brewery. Mixed interest was observed in Sampath Bank whilst retail interest was noted in Lankem Developments. Meanwhile, foreigners remained active closing as net buyers mainly due to foreign purchasing in Softlogic Life. Total foreign purchases accounted for 86.8% of turnover.

Banks, Finance and Insurance sector was the top contributor to the market turnover (due to Softlogic Life and Sampath Bank) whilst the sector index lost 0.83%. The share price of Softlogic Life decreased by Rs 0.90 (4.09%) closing at Rs 21.10 whilst foreign holdings increased by 28,127,000 shares. The share price of Sampath Bank moved down by Rs 5.70 (1.71%) to close at Rs 327.20.

Beverage, Food and Tobacco sector was the second highest contributor to the market turnover (due to Lion Brewery and Ceylon Cold Stores) whilst the sector index edged up by 0.02%. The share price of Lion Brewery lost Rs 19.50 (3.42%) to close at Rs 550.50. The share price of Ceylon Cold Stores recorded a loss of Rs 2.00 (0.21%) to close at Rs 950.00.

Hemas Holdings was also included amongst the top turnover contributors. The share price of Hemas Holdings closed flat at Rs 130.00.

Furthermore, Hemas Holdings announced an interim dividend of Rs 0.40 per share