Foreign purchases boost turnover

The ASPI closed in red due to price losses in counters such as John Keells Holdings, Sri Lanka Telecom and Cargills with turnover crossing Rs 597 Mn. A similar behaviour was noticed in the S&P SL20. High net worth and institutional investor participation was witnessed in Softlogic Holdings, Commercial Bank and Sanasa Development Bank. Mixed interest was observed in Seylan Bank nonvoting whilst retail interest was noted in Janashakthi Insurance Company. Furthermore, foreigners remained active closing as net buyers mainly due to foreign purchasing in Softlogic Holdings and Sampath Bank. Total foreign purchases accounted for 52.2% of turnover.

Diversified sector was the top contributor to the market turnover (due to Softlogic Holdings) whilst the sector index lost 0.96%. The share price of Softlogic Holdings increased by Rs 1.90 (10.50%) closing at Rs 20.00 whilst foreign holdings increased by 12,398,471 shares.

Banks, Finance and Insurance sector was the second highest contributor to the market turnover (due to Sampath Bank, Seylan Bank nonvoting, Sanasa Development Bank and Janashakthi Insurance Company) whilst the sector index decreased by 0.47%.

The share price of Sampath Bank edged down by Rs 0.10 (0.03%) closing at Rs 319.90 whilst foreign holdings increased by 153,222 shares. The share price of Seylan Bank nonvoting decreased by Rs 0.70 (1.26%) to close at Rs 54.90.

The share price of Sanasa Development Bank recorded a loss of Rs 1.00 (0.90%) to close at Rs 110.50. The share price of Janashakthi Insurance Company declined by Rs 0.30 (0.99%) to close at Rs 29.90.

Furthermore, People’s Insurance announced an interim dividend of Rs 1.00 per share.