S&P SL20 marginally recovers after triggering 2 trading halts

Due to the discovery of a new cluster of COVID 19 cases after 2 and a half months, both the ASPI and S&P SL20 closed in red, while the ASPI recorded its single largest drop in index points during the day.

The drop in ASPI was mainly attributable to price losses in counters such as Carson Cumberbatch, Distilleries and Bukit Darah with the turnover crossing Rs 3.8 Bn. High net worth and institutional investor participation was noted in John Keells Holdings and DFCC Bank.

Mixed interest was observed in Expolanka Holdings, Tokyo Cement Company voting and non voting, whilst retail interest was noted in Access

Engineering, Royal Ceramic san dR IL Property. Foreign participation in the market remained at subdued levels with foreigners closing as net sellers.

During the day, the S&P SL20 triggered two circuit breakers, of which the first was within the first 10 minutes of the market opening.

After the 30 minute trading halt, the second was triggered 6 minutes later, after which the S&P SL20 marginally recovered from the bottommost point, to close with only a 6.76% drop Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings), whilst the sector index lost 6.88%.

The share price of John Keells Holdings lost Rs 3.40 (2.54%) closing at Rs 130.60, whilst foreign holdings decreased by 1,270,751 shares.

Materials sector was the second highest contributor to the market turnover (due to Tokyo Cement Company voting and non voting), whilst the sector index decreased by 9.92%. The share price of Tokyo Cement Company non voting moved down by Rs 4.90 (10.58%) to close at Rs 41.40. The share price of Tokyo Cement Company recorded a loss of Rs 7.10 (12.43%) to close at Rs 50.00. Expolanka Holdings and Hayleys Fabric were also included amongst the top turnover contributors. Furthemore, the share price of Expolanka Holdings decreased by Rs 1.60 (11.85%) to close at Rs 11.90 whilst, the share price of Hayleys Fabric declined by Rs 4.00 (14.76%) to close at Rs 23.10. Furthermore, Laxapana Batteries and Lanka Aluminium Industries announced their first and final dividends of Rs 1.00 per share respectively.