Foreign purchases boost turnover

ASPI closed in red due to price losses in counters such as Sri Lanka Telecom, Ceylon Tobacco Company and Hatton National Bank with turnover crossing Rs 609 Mn. A similar behavior was witnessed in S&P SL20. High net worth and institutional investor participation was witnessed in LB Finance, Hatton National Bank, Teejay Lanka accounting for 43.1% of turnover. Mixed interest was observed in Tokyo Cement Company non-voting and Dialog Axiata whilst retail interest was noted in Ceylon Grain Elevators and Seylan Developments. Meanwhile, foreigners remained active closing as net buyers mainly due to foreign purchasing in LB Finance and Teejay Lanka.

Banks, Finance and Insurance sector was the top contributor to the market turnover (due to LB Finance and Hatton National Bank) whilst the sector index lost 0.65%. The share price of LB Finance decreased by Rs 0.10 (0.08%) closing at Rs 126.90 whilst foreign holdings increased by 1,600,000 shares. The share price of Hatton National Bank lost Rs 3.10 (1.34%) to close at Rs 228.00.

Manufacturing sector was the second highest contributor to the market turnover (due to Teejay Lanka and Tokyo Cement Company non-voting) whilst the sector index decreased by 0.79%. The share price of Teejay Lanka moved down by Rs 0.30 (0.63%) closing at Rs 47.00 whilst foreign holdings increased by 962,320 shares. The share price of Tokyo Cement Company non-voting declined by Rs 1.50 (2.94%) to close at Rs 49.50.

Hemas Holdings was also included amongst the top turnover contributors. The share price of Hemas Holdings recorded a gain of Rs 0.40 (0.37%) to close at Rs 107.40.

Furthermore, Lanka Tiles announced its interim dividend of Rs 2.50 per share.