Week closes on negative note

The ASPI edged down as a result of price losses in counters such as Dialog Axiata, Ceylon Tobacco Company and Melstacorp with the turnover crossing Rs 277 Mn. A similar behaviour was witnessed in the S&P SL20. High net worth and institutional investor participation was witnessed in John Keells Holdings,ceylon Tobacco Companyand Piramal Glass. Furthermore, foreigners remained active closing as net sellers mainly due to foreign selling in John Keells Holdings, Piramal Glass and Commercial Bank. Total foreign sales accounted for 44.3% of the turnover.

During the week, the ASPI and the S&P SL20 lost 1.63% and 2.80% respectively whilst recording an average daily turnover of Rs 593 Mn.

Diversified sector was the top contributor to the market turnover (due to John Keells Holdings) whilst the sector index edged down by 0.11%. The share price of John Keells Holdings closed flat at Rs 150.00 whilst foreign holdings decreased by 132,865 shares.

Banks, Finance and Insurance sector was the second highest contributor to the market turnover (due to Commercial Bank and Sampath Bank) whilst the sector index edged up by 0.06%. The share price of Commercial Bank recorded a loss of Rs 0.80 (0.65%) closing at Rs 123.20 whilst foreign holdings decreased by 200,000 shares. The share price of Sampath Bank appreciated by Rs 0.50 (0.16%) to close at Rs 305.10.

Piramal Glass and Ceylon Tobacco Company were also included amongst the top turnover contributors. The share price of Piramal Glass gained Rs 0.20 (4.35%) closing at Rs 4.80 whilst foreign holdings decreased by 6,365,721 shares. The share price of Ceylon Tobacco Company moved down by Rs 8.50 (0.76%) to close at Rs 1,111.50. CSE Equity Market Performance – One year