Big foreign inflows on bargain buys

Despite attractive corporate results bourse witnessed a downward movement on thin volumes. Counters across board lost ground mainly due to local retail selling whilst bargain hunting continued with significant foreign interest.

However, the indices recovered marginally in the latter part of trading with interest seen in Ceylon Cold Stores, Colombo land and People’s Leasing.

Divesified sector became the highest contributor to the market turnover ( due to John Keells Holdings) and the sector index decreased by 2.10%. The share price of John Keells Holdings declined Rs 3.10 (1.62%) to close at Rs 188.00.

Banking Finance and Insurance sector emerged as the second highest contributor to the market tur nover (due to Commercial Bank voting, non voting and National Development Bank) and the sector index slid 2.37%. Commercial bank voting share price closed Rs 1.00 (0.95%) lower at Rs 104.00 while non voting shares lost Rs 2.20 (2.85%) to close at Rs 74.90. The share price of National Development Bank decreased Rs 2.50 (2.22%) to close at Rs 110.00.

Hunter and Company declared a first and final dividend of Rs 2.25 per share while Hemas Holdings, Mechant Bank of Sri Lanka and Central Industries declared final dividends of Rs 0.25, Rs 1.25and Rs 3.00 per share respectively.