Week ends on negative note

The ASPI closed in red as a result of price losses in counters such as Ceylon Tobacco Company, Nestle Lanka and Asian Hotels & Properties with the turnover crossing Rs 569 Mn. A similar behaviour was witnessed in the S&P SL20. High net worth and institutional investor participation was witnessed in John Keells Holdings, Nestle Lanka, Sampath Bank, Amana Bank and Lion Brewery. Furthermore, foreigners remained active closing as net sellers mainly due to foreign selling in John Keells Holdings. Total foreign sales accounted for 72.3% of the turnover.

During the week, the ASPI and the S&P SL20 lost 1.47% and 2.36% respectively whilst recording an average daily turnover of Rs 444 Mn.

Diversified sector was the top contributor to the market turnover (due to John Keells Holdings) whilst the sector index lost 0.38%. The share price of John Keells Holdings decreased by Rs 0.20 (0.14%) closing at Rs 138.00 whilst foreign holdings decreased by 1,367,316 shares.

Beverage, Food and Tobacco sector was the second highest contributor to the market turnover (due to Nestle Lanka and Lion Brewery) whilst the sector index decreased by 1.16%. The share price of Nestle Lanka lost Rs 40.00 (2.17%) to close at Rs 1,800.00. The share price of Lion Brewery appreciated by Rs 9.50 (1.51%) to close at Rs 639.50.

Sampath Bank and Amana Bank were also included amongst the top turnover contributors.

The share price of Sampath Bank moved up by Rs 0.40 (0.14%) to close at Rs 278.60. The share price of Amana Bank closed flat at Rs 3.10.

Furthermore, Convenience Foods announced its interim dividend of Rs 1.00 per share whilst Renuka City Hotel, Renuka Hotels and Royal Palms Beach Hotel announced their first & final dividends of Rs 6.00, Rs 1.00 and Rs 1.00 per share respectively.