Market dips second straight day

 The Sri Lankan stock market dropped for the second straight day today owing to broad selloff. ASI closed at 6,930.04, down 37.58 points (-0.54%) while sensitive MPI closed at 6,270.41, down marginally by 0.63 points (-0.01%). The market turnover was recorded Rs.3.1bn.

Lanka Milk Foods Plc (LMF) recorded the top turnover at Rs.590.4mn with heavy trading. LMF recorded elevens crossings of 5.5mn shares at a price of Rs.105.00 and Rs.107.00. LMF closed at Rs.110.00, down Rs.0.20 (-0.18%). Furthermore counters such as Muller & Phipps Plc and Tess Agro Plc recorded notable level of turnover at Rs.276.6mn and Rs.170.8mn respectively.

 

In the meantime retail counters such as Free Lanka capital Holdings Plc, Blue Diamonds Plc and Tess Agro Plc depicted active trading level.

 

Foreign participation was 8.7% of the total market activity and at the end of the day foreign investors were the net sellers with a net foreign outflow of Rs.339.9mn.