CSE bounces back with foreign buying

The ASPI closed in green as a result of price gains in counters such as Commercial Bank, LOLC Finance and LOLC Holdings with the turnover crossing Rs 1.3 Bn. A similar behaviour was witnessed in the S&P SL20. High net worth and institutional investor participation was noted in Hemas Holdings PLC. Mixed interest was observed in Lanka Milk Foods, Capital Alliance and
Commercial Bank whilst retail interest was noted in LOLC Finance, Browns Investments and Lanka Credit and Business Finance. Foreign participation in the market activity remained at subdued levels with foreigners closing as net buyers.

Diversified Financials sector was the top contributor to the market turnover (due to LOLC Finance and Capital Alliance) whilst the sector index gained 1.69%. The share price of LOLC Finance increased by Rs 0.60 (9.37%) to close at Rs 7.00. The share price of Capital Alliance recorded a loss of Rs 1.10 (1.70%) to close at Rs 63.70. Food, Beverage & Tobacco sector was the second highest contributor to the market turnover (due to Browns Investments and Lanka Milk Foods) whilst the sector index increased by 1.25%. The share price of Browns Investments gained Rs 0.10 (1.79%) to close at Rs 5.70. The share price of Lanka Milk Foods moved up by Rs 1.80 (6.04%) to close at Rs 31.60.
Commercial Bank was also included amongst the top turnover contributors. The share price of Commercial Bank appreciated by Rs 1.50 (1.44%) to close at Rs 106.00.