Crossings boost turnover

The ASPI closed in green due to price gains in counters such as John Keells Holdings and Hemas Holdings with turnover crossing Rs 1.6 BN.A similar behavior was witnessed in the S&P SL20 duringthe day. Crossings were witnessed in Commercial Bank, Hatton National Bank, Ceylon Tobacco Company and Cargills, accounting for 80.1% of turnover. Mixed interest was observed in Commercial Bank nonvoting and HNB Assurance whilst retail interest was noted in Seylan Developments. Furthermore, foreigners remained active closing as net sellers mainly due to foreign selling in Commercial Bank. Total foreign sales accounted for 52.8% of turnover.

During the week, the ASPI and the S&P SL20 lost 0.47% and 0.84% respectively whilst recording an average daily turnover for the week was recordedat Rs 1.1 Bn.

Banks, Finance and Insurance sector was the top contributor to the market turnover (due to Commercial Bank and Hatton National Bank) whilst the sector index gained 0.40%. The share price of Commercial Bank increased by Rs 0.60 (0.44%) closing at Rs 136.70 whilst foreign holdings decreased by 4,848,511 shares. The share price of Hatton National Bank edged down byrs 0.10 (0.04%) to close at Rs 252.80.

Beverage, Food and Tobacco sector was the second highest contributor to the market turnover (due to Ceylon Tobacco Company and Cargills ) whilst the sector index edged up by 0.03%. The share price of Ceylon Tobacco Company edged down by Rs 0.80 (0.08%) to close at Rs 1,029.20. The share price of Cargills closed flat at Rs 195.00.

John Keells Holdings was also included amongst the top turnover contributors. The share price of John Keells Holdings recorded a gain of Rs 4.00 (2.50%) to close at Rs 164.00.

Furthermore, Sathosa Motors announced an interim dividend of Rs 30.00 per share.