Turnover hits 15-week low

The ASPI closed in red as a result of price losses in counters such as Distilleries, Ceylinco Insurance and Dialog Axiata with turnover crossing Rs 134 Mn. Meanwhile, the S&P SL20 edged down. High net worth and institutional investor activity in the market remained at subdued levels whilst retail interest was noted in Distilleries and Browns Investments. Furthermore, foreigners closed as net sellers for the day.

During the week, the ASPI lost 0.33% whilst the S&P SL20 gained 0.19%. The average daily turnover for the week was recorded at Rs 1 Bn.

Banks, Finance and Insurance sector was the top contributor to the market turnover (due to Ceylinco Insurance and Hatton National Bank) whilst the sector index lost 0.40%. The share price of Ceylinco Insurance decreased by Rs 149.40 (8.30%) to close at Rs 1,650.60. The share price of Hatton National Bank moved up by Rs 0.80 (0.32%) closing at Rs 248.00.

Diversified sector was the second highest contributor to the market turnover whilst the sector index decreased by 0.27%.

United Motors Lanka, Chevron Lubricants and Distilleries were also included amongst the top turnover contributors. The share price of United Motors Lanka gained Rs 2.00 (2.56%) to close at Rs 80.00. The share price of Chevron Lubricants recorded a loss of Rs 1.90 (1.86%) to close at Rs 100.10. The share price of Distilleries declined by Rs 0.70 (3.21%) closing at Rs 21.10.