Indices edge down

Indices edged down as a result of price losses in counters such as Ceylon Cold Stores, Nestle Lanka and John Keells Holdings with turnover crossing Rs 865 Mn. Crossings were witnessed in Sampath Bank, Hemas Holdings and John Keells Holdings accounting for 56.0% of turnover. Mixed interest was observed in John Keells Holdings and Richard Pieris & Company whilst retail interest was noted in Sampath Bank rights and Swarnamahal Finance. Furthermore, foreigners remained active closing as net buyers mainly due to foreign purchasing in Sampath Bank. Total foreign purchases accounted for 72.6% of turnover.

Banks, Finance and Insurance sector was the top contributor to the market turnover (due to Sampath Bank and rights) whilst the sector index gained 0.43%. The share price of Sampath Bank increased by Rs 4.80 (1.63%) closing at Rs 300.00 whilst foreign holdings increased by 1,320,200 shares. The share price of Sampath Bank rights appreciated by Rs 6.90 (16.05%) to close at Rs 49.90.

Diversified sector was the second highest contributor to the market turnover (due to Hemas Holdings, John Keells Holdings and Richard Pieris & Company) whilst the sector index edged down by 0.12%. The share price of Hemas Holdings closed flat at Rs 123.00. The share price of John Keells Holdings moved down by Rs 0.70 (0.44%) to close at Rs 159.00. The share price of Richard Pieris & Company closed flat at Rs 12.60.