ASPI records 1.6% gain for the week

The ASPI closed in red as a result of price losses in counters such as Ceylon Tobacco Company, Nestle Lanka and Distilleries with the turnover crossing Rs 925 Mn.

A similar behaviour was witnessed in the S&P SL20. High net worth and institutional investor participation was noted in Dialog Axiata, Melstacorp and Hemas Holdings.

Mixed interest was observed in Hayleys Fabric and Aitken Spence whilst retail interest was noted in Renuka Agri Foods, Tokyo Cement Company nonvoting and

B P P L Holdings. Furthermore, foreigners closed as net sellers mainly due to foreign selling in Melstacorp and Hemas Holdings.

During the week, the ASPI and the S&P SL20 gained 1.60% and 1.19% respectively whilst recording an average daily turnover of Rs 1.6 Bn. Diversified sector was the top contributor to the market turnover (due to Melstacorp, Aitken Spence and Hemas Holdings) whilst the sector index edged up by 0.12%.

The share price of Melstacorp closed flat at Rs 45.00 whilst foreign holdings decreased by 1,981,932 shares. The share price of Aitken Spence recorded a gain of Rs 1.60 (3.48%) to close at Rs 47.60.

The share price of Hemas Holdings declined by Rs 0.30 (0.36%) closing at Rs 82.70 whilst foreign holdings decreased by 521,439 shares. Manufacturing sector was the second highest contributor to the market turnover whilst the sector index increased by 0.37%.

Dialog Axiata and Hayleys Fabric were also included amongst the top turnover contributors. The share price of Dialog Axiata increased by Rs 0.10 (0.78%) to close at Rs 13.00. The share price of Hayleys Fabric gained Rs 0.50 (2.89%) to close at Rs 17.80.

Furthermore, C T Holdings announced an interim dividend of Rs 1.80 per share.