Indices close on negative note

Indices closed in red as a result of price losses in counters such as John Keells Holdings, Commercial Bank and Sampath Bank with the turnover crossing Rs 204 Mn. High net worth and institutional investor participation was witnessed in Central Finance Company and National Development Bank. Mixed interest was observed in Sampath Bank and John Keells Holdings whilst retail interest was noted in L B Finance and Teejay Lanka. Furthermore, foreigners closed as net sellers mainly due to foreign selling in National Development Bank.

During the week, the ASPI and the S&P SL20 lost 0.93% and 1.01% respectively whilst recording an average daily turnover of Rs 875 Mn.

Banks, Finance and Insurance sector was the top contributor to the market turnover (due to Sampath Bank, National Development Bank, LB Finance and Central Finance Company) whilst the sector index lost 0.52%. The share price of Sampath Bank decreased by Rs 4.80 (2.14%) to close at Rs 220.00. The share price of National Development Bank lost Rs 1.30 (1.30%) closing at Rs 98.70 whilst foreign holdings decreased by 338,584 shares. The share price of LB Finance moved down by Rs 2.80 (2.41%) to close at Rs 113.30. The share price of Central Finance Company recorded a loss of Rs 2.00 (2.22%) to close at Rs 88.00.

Diversified sector was the second highest contributor to the market turnover (due to John Keells Holdings) whilst the sector index decreased by 0.59%. The share price of John Keells Holdings declined by Rs 1.50 (1.15%) to close at Rs 129.50.