Positive momentum continues

Indices closed in green as a result of price gains in counters such as Commercial Bank, Hemas Holdings and Melstacorp with the turnover crossing Rs. 6.6 Bn. High net worth and institutional investor participation was noted in Chevron Lubricants, Access Engineering and Hatton National Bank nonvoting. Mixed interest was observed in Sierra Cables, Alumex and Hemas Holdings whilst retail interest was noted in Asia Siyaka Commodities, LVL Energy Fund and Browns Investments.

Foreign participation in the market activity remained at subdued levels with foreigners closing as net sellers. The Capital Goods sector was the top contributor to the market turnover (due to Sierra Cables and Hemas Holdings) whilst the sector index gained 0.19%. The share price of Sierra Cables decreased by Rs 0.20 (0.63%) to close at Rs 31.40. The share price of Hemas Holdings recorded a gain of Rs 1.10 (3.63%) to close at Rs 31.40. The Materials sector was the second highest contributor to the market turnover (due to Alumex and Chevron Lubricants) whilst the sector index increased by 1.76%. The

share price of Alumex gained Rs 2.10 (11.23%) to close at Rs 20.80. The share price of Chevron Lubricants moved up by Rs 0.50 (0.29%) to close at Rs 173.25. R I L Property was also included amongst the top turnover contributors. The share price of R I L Property appreciated by Rs 0.60 (1.71%) to close at Rs 35.60.