Market closes with foreign buying

The ASPI edged down as a result of price losses in counters such as John Keells Holdings, Colombo Dockyard and DFCC Bank with the turnover crossing Rs. 4.9 bn. A similar behaviour was witnessed in the S&P SL20. 

High net worth and institutional investor participation was noted in Citizens Development Business Finance, Melstacorp and Hatton National Bank.

Mixed interest was observed in Commercial Bank, Sierra Cables and R I L Property whilst retail interest was noted in SMB Leasing, Hikkaduwa Beach Resort and ACME Printing & Packaging. 

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 (due to Sierra Cables) whilst the sector index lost 1.43%. 

The share price of Sierra Cables increased by Rs. 1.30 (3.71%) to close at Rs. 36.30. The Banking sector was the second highest contributor to the market turnover (due to Commercial Bank) whilst the sector index increased by 0.34%. The share price of Commercial Bank edged up by Rs. 0.25 (0.11%) to close at Rs. 219.75. 

Citizens Development Business Finance, R I L Property and Melstacorp were also included amongst the top turnover contributors. The share price of Citizens Development Business Finance gained Rs. 1.25 (0.32%) to close at Rs. 387.75. 

The share price of R I L Property recorded a gain of Rs. 2.50 (7.12%) to close at Rs. 37.60. The share price of Melstacorp declined by Rs. 0.50 (0.28%) to close at Rs. 175.50.