Week ends in red

The ASPI closed in red as a result of price losses in counters such as Colombo Dockyard, Melstacorp and Hemas Holdings with the turnover crossing Rs. 3.4 Bn. A similar behaviour was witnessed in the S&P SL20. High net worth and institutional investor participation was noted in HemasHoldings, Colombo Dockyard and C T Holdings. Mixed interest was observed in Dockyard Rights, Tokyo Cement Company nonvoting and Tokyo Cement Company whilst retail interest was noted in Browns Investments, Lanka Credit and Business Finance and LVL Energy Fund. Foreign participation in the market activity remained at subduedlevels with foreigners closing as net sellers. During the week, the ASPI and the S&P SL20 lost 1.60% and0.7% respectively, whilst recording an average daily turnover of Rs. 2.84 Bn. Capital Goods sector was the top contributor to the market turnover (due to Colombo Dockyard PLC, Hemas Holdings and Colombo Dockyard) whilst the sector index lost 2.06%.

The share price of Colombo Dockyard PLC Rights decreased by Rs 74.85 (49.98%) to close at Rs 74.90. The share price of Hemas Holdings lost Rs 0.50 (1.42%) to close at Rs 34.80. The share price of Colombo Dockyard declined by Rs 47.25 (24.90%) to close at Rs 142.50.

Materials sector was the second highest contributor to the market turnover (due to Tokyo Cement Company nonvoting and Tokyo Cement Company) whilst the sector index increased by 0.17%. The share price of Tokyo Cement Company nonvoting moved up by Rs 2.30 (2.54%) to close at Rs 92.80. The share price of Tokyo Cement Company recorded a gain of Rs 2.00 (1.80%) to close at Rs 113.00.