Crossings account for 78% of turnover

The ASPI edged down as a result of price losses in counters such as Distilleries, Carson Cumberbatch and John Keells Holdings with the turnover crossing Rs 1.1 Bn.

Meanwhile, the S&P SL20 closed in green. Crossings were witnessed in Vallibel Power Erathna, Panasian Power, Watawala Plantations, SMB Leasing and The Colombo Fort Land & Building, accounting for 77.5% of the turnover.

Mixed interest was observed in Sampath Bank and Access Engineering. Foreign participation in the market activity remained at subdued levels with foreigners closing as netsellers.

During the week, the ASPI and the S&P SL20 gained 1.61% and 2.14% respectively whilst recording an average daily turnover of Rs 424 Mn. Power and Energy sector was the top contributor to the market turnover (due to Vallibel Power Erathna and Panasian Power) whilst the sector index lost 0.28%.

The share price of Vallibel Power Erathna closed flat at Rs 6.10. The share price of Panasian Power closed flat at Rs 3.10. Banks, Finance and Insurance sector was the second highest contributor to the market turnover (due to Sampath Bank) whilst the sector index increased by 0.40%.

The share price of Sampath Bank recorded a gain of Rs 4.00 (2.90%) closing at Rs 141.80 whilst foreign holdings decreased by 368,804 shares. Watawala Plantations and Tokyo Cement Company nonvoting were also included amongst the top turnover contributors.

The share price of Watawala Plantations moved up by Rs 0.30 (1.54%) to close at Rs 19.80. The share price of Tokyo Cement Company nonvoting closed flat at Rs 18.00.