Turnover hits 20-week low

The ASPI edged down as a result of price losses in counters such as Ceylon Cold Stores, Softlogic Holdings and Distilleries with the turnover crossing Rs 119 Mn. A similar behaviour was witnessed in the S&P SL20. High net worth and institutional investor participation was witnessed in Ceylon Cold Stores and Central Finance Company. Retail interest was noted in LOLC Finance. Furthermore, foreigners closed as net sellers mainly due to foreign selling in Ceylon Cold Stores and Chevron Lubricants.

Banks, Finance and Insurance sector was the top contributor to the market turnover (due to Central Finance Company, Sampath Bank and Union Assurance) whilst the sector index gained 0.17%. The share price of Central Finance Company increased by Rs 1.00 (1.05%) to close at Rs 96.00. The share price of Sampath Bank lost Rs 2.20 (0.79%) to close at Rs 276.10. The share price of Union Assurance recorded a loss of Rs 0.70 (0.25%) to close at Rs 285.00.

Beverage, Food and Tobacco sector was the second highest contributor to the market turnover (due to Ceylon Cold Stores) whilst the sector index decreased by 0.55%. The share price of Ceylon Cold Stores moved down by Rs 31.90 (3.62%) closing at Rs 850.10 whilst foreign holdings decreased by 15,055 shares.

Chevron Lubricants was also included amongst the top turnover contributors. The share price of Chevron Lubricants declined by Rs 1.10 (1.46%) closing at Rs 74.50 whilst foreign holdings decreased by 84,321 shares.

Furthermore, People’s Insurance announced an interim dividend of Rs 0.75 per share.