Indices bounce back

The ASPI edged up as a result of price gains in counters such as Dialog Axiata, Ceylon Cold Stores and National Development Bank with the turnover crossing Rs. 1.8 Bn. Meanwhile, the S&P SL20 closed in green. High net worth and institutional investor participation was noted in CIC Holdings, Vidullanka and Lanka Milk Foods. Mixed interest was observed in Bairaha Farms, Dialog Axiata and Softlogic Life Insurance whilst retail interest was noted in HVA Foods, Lanka Credit and Business Finance and Browns Investments. Foreign participation in the market activity remained at subdued levels with foreigners closing as net buyers.
Food, Beverage & Tobacco sector was the top contributor to the market turnover (due to Bairaha Farms) whilst the sector index gained 0.74%. The share price of Bairaha Farms gained Rs 6.40 (7.43%) to close at
Rs 92.50.
Materials sector was the second highest contributor to the market turnover (due to CIC Holdings) whilst the sector index decreased by 0.14%. The share price of CIC Holdings decreased by Rs 0.10 (0.30%) to close at Rs 33.00.
Softlogic Life Insurance, Dialog Axiata and John Keells Holdings were also included amongst the top turnover contributors. The share price of Softlogic Life Insurance moved up by Rs 1.00 (1.07%) to close at Rs 94.20. The share price of Dialog Axiata recorded a gain of Rs 2.10 (5.32%) to close at Rs 41.60. The share price of John Keells Holdings closed flat at Rs 20.10.