Market seems to be building some momentum as foreign and
local institutions were seen collecting parcels and retail quantities at these
low levels of several blue-chips. Blue-chips received the lion’s share of the
activity as retail participation remains on the sidelines. Plantation companies
attracted renewed investor interest as tea prices fetched record prices in the
most recent auction. To further compliment the pick-up in sentiment, todays’
cash map was a resounding 70.5% excluding crossings.
Distilleries Company has received an “AAA rating” by Fitch
ratings which might indicate that a corporate debt instrument maybe in the
offing in the future.
ASI gained 14.70 points (0.27%) to close at 5,527.36, MPI
gained 9.76 points (0.19%) to close at 5,030.62 and the S&P SL20 index
gained 12.87 points (0.43%) to close at 3,030.86. Turnover was Rs. 811.9Mn.
Top contributors to turnover were John Keells Holdings with
Rs. 572.2Mn, Aitken Spence with Rs. 67.2Mn and Commercial Bank with Rs. 49.0Mn.
Most active counters for the day were Nation Lanka Finance, Madulsima
Plantations and Central Finance & Investments.
Notable gainers for the day were Capital Alliance Finance up
by 19.9% to close at Rs. 24.10, Madulsima Plantations up by 10.0% to close at
Rs. 16.50 and United Motors up by 5.6% to close at Rs. 95.00. Notable losers
for the day were Expo Lanka down by 2.9% to close at Rs. 6.80, Regnis down by
2.4% to close at Rs. 58.00
Foreign participation was 53% of total market turnover
whilst net foreign buying was Rs. 533Mn.
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