Week begins with foreign buying

The ASPI edged up as a result of price gains in counters such as Dialog Axiata, C T Holdings and Mercantile Investments & Finance with the turnover crossing Rs. 5.6 Bn. Meanwhile, the S&P SL20 closed in red. High net worth and institutional investor participation was noted in Gestetner Of Ceylon, Ceylon Land & Equity and Citizens Development Business Finance. Mixed interest was observed in Hatton National Bank, HNB Finance and SMB Leasing whilst retail interest was noted in SMB Leasing nonvoting, Renuka Agri Foods and Agstar.

Foreign participation in the market activity remained at subdued levels with foreigners closing as net buyers. The Diversified Financials sector was the top contributor to the market turnover (due to Ceylon Land & Equity, Citizens Development Business Finance and HNB Finance) whilst the sector index gained 0.25%. The share price of Ceylon Land & Equity increased by Rs 0.50 (3.97%) to close at Rs 13.10. The share price of Citizens Development Business Finance moved down by Rs 9.25 (2.41%) to close at Rs 375.00. The share price of HNB Finance appreciated by Rs 0.90 (10.34%) to close at Rs 9.60.

The Banking sector was the second highest contributor to the market turnover (due to Hatton National Bank) whilst the sector index decreased by 0.35%. The share price of Hatton National Bank recorded a loss of Rs 0.75 (0.19%) to close at Rs 394.00.

Gestetner Of Ceylon was also included amongst the top turnover contributors. The share price of Gestetner Of Ceylon lost Rs 4.00 (1.55%) to close at Rs 254.00.