The week closes on a positive note

The ASPI closed in green as a result of price gains in counters such as John Keells Holdings, Union Assurance and Vallibel One with the turnover crossing Rs 433 Mn. A similar behaviour was witnessed in the S&P SL20. High net worth and institutional investor participation was witnessed in John Keells Holdings and Hatton National Bank nonvoting. Mixed interest was observed in Nations Trust Bank and Sampath Bank. Furthermore, foreigners remained active closing as net sellers mainly due to foreign selling in John Keells Holdings. Total foreign sales accounted for 55.3% of turnover.

During the week, the ASPI and the S&P SL20 gained 0.20% and 0.18% respectively whilst recording an average daily turnover of Rs 525 Mn.

Diversified sector was the top contributor to the market turnover (due to John Keells Holdings) whilst the sector index gained 1.00%. The share price of John Keells Holdings increased by Rs 4.20 (2.66%) closing at Rs 161.90 whilst foreign holdings decreased by 636,991 shares.

Banks, Finance and Insurance sector was the second highest contributor to the market turnover (due to Sampath Bank, Hatton National Bank nonvoting and Nations Trust Bank) whilst the sector index increased by 0.32%. The share price of Sampath Bank gained Rs 2.10 (0.70%) to close at Rs 301.00. The share price of Hatton National Bank nonvoting moved up by Rs 0.60 (0.32%) to close at Rs 188.10. The share price of Nations Trust Bank appreciated by Rs 1.50 (1.71%) to close at Rs 89.00.

Renuka Agri Foods was also included amongst the top turnover contributors. The share price of Renuka Agri Foods closed flat at Rs 2.30.

Furthermore, The Fortress Resorts announced its first and final dividend of Rs 1.00 per share whilst Ceylon Hospitals announced an interim dividend of Rs 2.74 per share for the FY17/18 and Rs 0.86 per share for the FY18/19.