Week ends with foreign buying

The ASPI edged up as a result of price gains in counters such as RIL Property, Ceylon Tobacco Company and Prime Lands Residencies with the turnover crossing Rs. 5.6 bn. 

Meanwhile, the S&P SL20 edged down. High net worth and institutional investor participation was noted in E B Creasy & Company, Colombo Land & Development Company and RIL Property. 

Mixed interest was observed in Hikkaduwa Beach Resort, Myland Developments and Prime Lands Residencies whilst retail interest was noted in Lanka Credit and Business Finance, Beruwala Resorts and Waskaduwa Beach Resort. 

Foreign participation in the market activity remained at subdued levels with foreigners closing as net buyers. During the week, the ASPI and the S&P SL20 lost 0.03% and 1.19% respectively, whilst recording an average daily turnover of Rs. 8.22 bn. 

The Capital Goods sector was the top contributor to the market turnover (due to E B Creasy & Company) whilst the sector index gained 0.34%. The share price of E B Creasy & Company gained Rs. 2.00 (2.99%) to close at Rs 69.00. Consumer Services sector was the second highest contributor to the market turnover (due to Hikkaduwa Beach Resort) whilst the sector index increased by 0.58%. 

The share price of Hikkaduwa Beach Resort moved down by Rs. 0.60 (14.29%) to close at Rs. 3.60. RIL Property, Myland Developments and Prime Lands Residencies were also included amongst the top turnover contributors. 

The share price of RIL Property increased by Rs. 2.50 (8.42%) to close at Rs. 32.20. The share price of Myland Developments recorded a gain of Rs. 2.80 (25.00%) to close at Rs. 14.00. The share price of Prime Lands Residencies appreciated by Rs. 2.40 (8.79%) to close at Rs. 29.70