Foreign purchases boost turnover

ASPI closed in red due to price losses in counters such as Distilleries, Ceylon Tobacco Company and CT Holdings with turnover crossing Rs 749 Mn whilst a similar behavior was observed in S&P SL20. High net worth and institutional investor participation was witnessed in Commercial Bank, Chevron Lubricants and John Keells Holdings. Mixed interest was observed in Textured Jersey Lanka, Singer Sri Lanka and First Capital Holdings whilst retail interest was noted in Ceylon Grain Elevators, Renuka Agri Foods and Anilana Hotels and Properties. Meanwhile, foreigners remained active closing as net buyers mainly due to foreign purchasing in Commercial Bank and Chevron Lubricants. Total foreign purchases accounted for 59.9% of turnover.

Banks, Finance and Insurance sector was the top contributor to the market turnover (due to Commercial Bank and Sampath Bank) whilst the sector index lost 0.03%. The share price of Commercial Bank increased by Rs 2.00 (1.43%) closing at Rs 142.00 whilst foreign holdings increased by 2,055,821 shares. The share price of Sampath Bank recorded a gain of Rs 1.00 (0.39%) to close at Rs 256.60.

Manufacturing sector was the second highest contributor to the market turnover (due to Chevron Lubricants) whilst the sector index decreased by 0.39%. The share price of Chevron Lubricants lost Rs 0.60 (0.36%) closing at Rs 168.00 whilst foreign holdings increased by 436,824 shares.

John Keells Holdings Warrant 23 and John Keells Holdings were also included amongst the top turnover contributors. The share price of John Keells Holdings Warrant 23 moved down by Rs 0.50 (11.36%) to close at Rs 3.90. The share price of John Keells Holdings increased by Rs 0.20 (0.13%) to close at Rs 149.70.

Furthermore, People’s Insurance announced its interim dividend of Rs 0.75 per share.