Stock market began a fresh week on a negative note failing to sustain positive start in early trading as both indices declined though turnover was healthy.
The All Share Price Index was down by over 77 points or 0.9% and S&PSL20 index was down by over 16 points or 0.5%. Turnover was Rs. 6 billion.
“Index spiked within the first few minutes of trading as it recorded its intraday high of 8,127. Thereafter experienced a Bumpy decline for the rest of the session and closed at 7,907 losing 78 points,” First Capital said.
Capital Goods sector dominated the turnover for the session with a contribution of 56%. Parcel trades amounted to 5% of turnover for the session.
NDB Securities said the ASPI closed in red as a result of price losses in counters such as Melstacorp, Browns Investments and Expolanka Holdings.
High net worth and institutional investor participation was noted in John Keells Holdings, Dialog Axiata and Sampath Bank. Mixed interest was observed in Lanka Walltiles, LOLC Holdings and Browns Investments whilst retail interest was noted in Expolanka Holdings, Royal Ceramics and Vallibel One.
Capital Goods sector was the top contributor to the market turnover (due to Royal Ceramics, Vallibel One and John Keells Holdings), whilst the sector index gained 1.44%. The share price of Royal Ceramics increased by Rs. 19.50 (5.85%) closing at Rs. 353.00 whilst foreign holdings decreased by 98,200 shares. The share price of Vallibel One gained Rs. 4.30 (6.54%) to close at Rs. 70.00. The share price of John Keells Holdings moved up by Rs. 5.75 (3.73%) closing at Rs. 160.00 whilst foreign holdings decreased by 366,871 shares.
Diversified Financials sector was the second highest contributor to the market turnover (due to LOLC Holdings), whilst the sector index decreased by 1.86%. The share price of LOLC Holdings recorded a gain of Rs. 3.75 (0.87%) to close at Rs. 434.50.
Expolanka Holdings was also included amongst the top turnover contributors, whilst the share price of Expolanka Holdings declined by Rs. 2.40 (4.63%) to close at Rs. 49.40.
Net foreign selling yesterday was Rs. 104.6 million, down from Rs. 690 million increasing the year to date to Rs. 11.4 billion.