Retail run continues while MPI dips

Profit taking at the start of trading resulted in the broader market remaining stagnant during early hours of trade. However, fresh buying commenced during midday to push the ASPI up for the seventh consecutive session with interest seen across the board. MPI was dragged down due to index heavy John Keells Holdings losing ground while speculative counters such as Free Lanka Capital Holdings, Tess Agro and Panasian Power saw interest.

Banking, Finance and Insurance sector became the highest contributor to the market turnover (due to People's Leasing) and the sector index gained 2.61%. The share price of People's Leasing jumped Rs 1.60 (13.68%) to close at Rs 13.30.

Diversified sector was the second highest contributor to the market turnover (due to Free Lanka Capital Holding) and the sector index shed 0.15%. The share price of Free Lanka Capital Holding closed flat at Rs 3.00.

Dialog Axiata, Tess Agro and Panasian Power were also seen among top contributors to the market turnover. The share price of Dialog Axiata dipped Rs 0.10 (1.61%) to close at Rs 6.10 while the share price of Tess Agro increased by Rs 0.10 (3.23%) to close at Rs 3.20. Panasian Power saw its share price move up by Rs 0.20 (6.90%) to close at Rs 3.10.

Meanwhile, J.L. Morison declared a second and final dividend of Rs 2.00 per share.