Crossings account for 65% of turnover

The ASPI closed in red as a result of price losses in counters such as Melstacorp, Dialog Axiata and Sri Lanka Telecom with the turnover crossing Rs 522 Mn.

A similar behaviour was witnessed in the S&P SL20. Crossings were witnessed in Ceylon Tobacco Company, Vallibel Power Erathna, Nestle Lanka, John Keells Holdings and National Development Bank, accounting for 64.6% of the turnover. Mixed interest was noted in Seylan Bank nonvoting, Nations Trust Bank and Lion Brewery. Furthermore, foreigners remained active closing as net buyers mainly due to foreign purchasing in Ceylon Tobacco Company. Total foreign purchases accounted for 49.2% of the turnover. During the week, the ASPI and the S&P SL20 lost 1.36% and 1.31% respectively whilst recording an average daily turnover of Rs 477 Mn.

Beverage, Food and Tobacco sector was the top contributor to the market turnover (due to Ceylon Tobacco Company and Nestle Lanka) whilst the sector index lost 0.12%. The share price of Ceylon Tobacco Company decreased by Rs 5.80 (0.43%) closing at Rs 1,340.00 whilst foreign holdings increased by 102,781 shares.

The share price of Nestle Lanka closed flat at Rs 1,624.60. Diversified sector was the second highest contributor to the market turnover (due to John Keells Holdings) whilst the sector index decreased by 0.73%. The share price of John Keells Holdings closed flat at Rs 150.50. Vallibel Power Erathna and National Development Bank were also included amongst the top turnover contributors.

The share price of Vallibel Power Erathna closed flat at Rs 6.00. The share price of National Development Bank declined by Rs 1.80 (1.89%) to close at Rs 93.20.