The market reopened for the week on a negative note with benchmark indices recording losses. ASI closed at 6,669.06, a dip of 29.79 index points (-0.45%) and liquid MPI closed at 5,935.90, a drop of 42.24 points (-0.71%). Daily market turnover stood at Rs.3.2bn.
Laugfs Gas Plc was the top contributor to the turnover with a value of Rs.1.8bn. Laugfs Holdings sold 33mn shares of Laugfs Gas Plc to EPF today at a price of Rs.48.00. Laugfs Gas Plc witnessed heavy trading today and the counter closed at Rs.43.90, (-9.1%) after hitting a intraday high of Rs.50.50.
Renewed interest in blue-chips was seen where the counters such as John Keells Holdings (Rs.325.6mn), Ceylon Tobacco Plc (Rs.86.0mn) and Distilleries Plc (Rs.63.0mn) made notable contribution to the turnover.
Retail activity was witnessed in counters such as East West Properties Plc, Renuka Agri Plc, Blue Diamond Plc – non voting and Laxapana Batteries Plc.
Foreign participation accounted for 13.5% of the total market activity. At the end of the day foreign investors were the net buyers with a net foreign inflow of Rs.135 mn.