Indices continue to bleed

Indices closed in red as a result of price losses in counters such as LOLC Holdings, Hayleys and Expolanka Holdings with the turnover crossing Rs 5.2 Bn. High net worth and institutional investor participation was noted in Teejay Lanka, Softlogic Holdings and Dipped Products. Mixed interest was observed in Expolanka Holdings, Softlogic Life Insurance and Lanka Orix Finance whilst retail interest was noted in SMB Leasing non voting, Browns Investments and Softlogic Capital. Foreign participation in the market activity remained at subdued levels with foreigners closing as net buyers.

Capital Goods sector was the top contributor to the market turnover whilst the sector index lost 2.77%.

Diversified Financials sector was the second highest contributor to the market turnover (due to Softlogic Capital and Lanka Orix Finance) whilst the sector index decreased by 4.96%. The share price of Softlogic Capital recorded a gain of Rs 0.40 (%) to close at Rs 17.40. The share price of Lanka Orix Finance declined by Rs 1.80 (%) to close at Rs 25.40.

Expolanka Holdings, Softlogic Life Insurance and Browns Investments were also included amongst the top turnover contributors. The share price of Expolanka Holdings decreased by Rs 8.75 (%) to close at Rs 309.00. The share price of Softlogic Life Insurance gained Rs 14.25 (%) to close at Rs 162.75. The share price of Browns Investments moved down by Rs 0.60 (%) to close at Rs 14.00.