Week commences on a positive note

Indices closed in green as a result of price gains in counters such as Commercial Bank, Ceylon Cold Stores and Asian Hotels & Properties whilst turnover crossed Rs 898 Mn. High net worth and institutional investor participation was witnessed in Textured Jersey Lanka, John Keells Holdings and Commercial Bank. Mixed interest was observed in Expolanka Holdings, Tokyo Cement Company and nonvoting whilst retail interest was noted in HVA Foods, Seylan Developments and East West Properties. Meanwhile, foreigners remained active closing as net buyers mainly due to foreign purchasing in Textured Jersey Lanka and Commercial Bank. Total foreign purchases accounted for 67.5% of turnover.

Manufacturing sector was the top contributor to the market turnover (due to Textured Jersey Lanka) whilst the sector index gained 0.24%. The share price of Textured Jersey Lanka closed flat at Rs 37.80 whilst foreign holdings increased by 6,822,642 shares.

Banks, Finance and Insurance sector was the second highest contributor to the market turnover (due to Commercial Bank and Lanka Orix Leasing Company) whilst the sector index increased by 0.50%. The share price of Commercial Bank gained Rs 4.00 (3.08%) closing at Rs 134.00 whilst foreign holdings increased by 795,530 shares. The share price of Lanka Orix Leasing Company declined Rs 1.20 (1.46%) to close at Rs 81.00.

John Keells Holdings and Dialog Axiata were also included amongst the top turnover contributors. The share price of John Keells Holdings closed flat at Rs 140.80. The share price of Dialog Axiata closed flat at Rs 11.00.

Furthermore, Distilleries announced a final dividend of Rs 3.35 per share. Sigiriya Village Hotels announced a first & final dividend of Rs 4.00 per share.