Index was dragged down by high caps namely, Cargills (closed at LKR 187.00, -3.0%), Hemas Holdings (closed at LKR 98.00, -2.2%) and Carson Cumberbatch (closed at LKR 183.90, -3.2%). However, price gains in Melstacorp (closed at LKR 57.30, +3.2%) and Ceylinco Insurance (closed at LKR 1,313.70, +7.6%) eased the downward pressure with thin volumes.
Daily market turnover was LKR 802mn supported by negotiated deals in John Keells Holdings (2.2mn shares at LKR 140.00) and Singer Sri Lanka (1.2mn shares at LKR 125.00). Aggregate value of crossings accounted for 56% of the turnover.
Accordingly, bulk of the turnover came from John Keells Holdings (LKR 503mn) and Singer Sri Lanka (LKR 149mn). Access Engineering (LKR 25mn) and Chevron Lubricants (LKR 22mn) made notable contributions.
Market breadth was negative where out of 192 stocks traded, 68 slipped and 39 advanced. High investor activity was witnessed in John Keells Holdings, Chevron Lubricants and Access Engineering.
Foreign investors continued to remain on sell side with a net foreign outflow of LKR 182mn. Net foreign outflows were seen in John Keells Holdings (LKR 327mn), Chevron Lubricants (LKR 20mn), Royal Ceramics (LKR 9mn) while net foreign inflow was mainly seen in Singer Sri Lanka (LKR 148mn). Foreign participation was 51%.
Source: LSL
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