ASPI gains 4.8% during the week

Indices closed in green as a result of price gains in counters such as John Keells Holdings, Melstacorp and Dialog Axiata with the turnover crossing Rs. 5.0 Bn. High net worth and institutional investor participation was noted in John Keells Holdings, Commercial Bank and LB Finance. Mixed interest was observed in Ceylon Land & Equity, Hikkaduwa Beach Resort and HNB Finance whilst retail interest was noted in Waskaduwa Beach Resort, Co-Operative Insurance Company and Lanka Credit and Business Finance. Foreign participation in the market activity remained at subdued levels with foreigners closing as net sellers.

During the week, the ASPI and the S&P SL20 gained 4.8% and 4.7% respectively, whilst recording an average daily turnover of Rs. 3.90 Bn.

Diversified Financials sector was the top contributor to the market turnover (due to Ceylon Land & Equity) whilst the sector index gained 1.80%. The share price of Ceylon Land & Equity lost Rs 1.60 (13.33%) to close at Rs 10.40.

Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings) whilst the sector index increased by 1.86%. The share price of John Keells Holdings increased by Rs 0.60 (3.08%) to close at Rs 20.10.

Commercial Bank, Chevron Lubricants and Hikkaduwa Beach Resort were also included amongst the top turnover contributors. The share price of Commercial Bank moved up by Rs 0.75 (0.36%) to close at Rs 210.25. The share price of Chevron Lubricants recorded a loss of Rs 0.25 (0.14%) to close at Rs 184.25. The share price of Hikkaduwa Beach Resort appreciated by Rs 1.00 (24.39%) to close at Rs 5.10.