Market gained further ground on banking and financials mainly from smaller-capped counters. National Development Bank, Union Bank and DFCC rose further today to improve their 52-week high prices. It was encouraging to see plenty of retail activity on smaller capped banking counters. Approximately 19 million shares of Nations Trust Bank changed hands amounting around 8.2% of the issued share capital of the company.
ASI gained 25.09 points (0.44%) to close at 5,753.56 and the S&P SL20 index gained 13.74 points (0.42%) to close at 3,319.01. Turnover was Rs. 1,648.5Mn.
Top contributors to turnover were Nations Trust Bank with Rs. 1,184.0Mn, Sampath Bank with Rs. 92.2Mn and Union Bank with Rs. 67.5Mn. Most active counters for the day were Union Bank, Merchant Bank of Sri Lanka and Nations Trust Bank.
Notable gainers for the day were Ceylon Leather Products up by 14.9% to close at Rs. 79.30, Merchant Bank of Sri Lanka up by 12.1% to close at Rs. 18.60 and HDFC up by 10.7% to close at Rs. 45.40. Notable losers for the day were Free Lanka Capital Holdings down by 7.7% to close at Rs. 2.40, Tokyo Cement down by 4.8% to close at Rs. 22.00 and Central Investments & Finance down by 4.0% to close at Rs. 2.40.
Cash map for today was 65.57%. Foreign participation was 72.56% of total market turnover whilst net foreign buying was Rs. 17.27Mn.
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