Stock market stays negative

The Colombo stock market remained negative as investors took bearish positions. 

NDB Equities said the ASPI edged down as a result of price losses in counters such as Distilleries, Dialog Axiata and C T Holdings with the turnover crossing Rs. 709 million. The S&P SL20 closed in red. 

Crossings were witnessed in John Keells Holdings and Sampath Bank, accounting for 62.3% of the turnover. 

It said mixed interest was observed in Union Bank and Dialog Axiata whilst retail interest was noted in Panasian Power and Browns Investments. 

Foreigners remained active closing as net sellers mainly due to foreign selling in John Keells Holdings. Total foreign sales accounted for 59% of the turnover.

Diversified sector was the top contributor to the market turnover (due to John Keells Holdings and C T Holdings) whilst the sector index lost 0.14%. The share price of John Keells Holdings closed flat at Rs. 151.00 whilst foreign holdings decreased by 980,667 shares. The share price of C T Holdings moved down by Rs. 2.90 (1.68%) to close at Rs. 170.00.

Banks, Finance and Insurance sector was the second highest contributor to the market turnover (due to Sampath Bank and Union Bank) whilst the sector index increased by 0.12%.

The share price of Sampath Bank lost Rs. 0.40 (0.26%) to close at Rs. 156.20. The share price of Union Bank recorded a gain of Rs. 0.20 (1.50%) to close at Rs. 13.50. 

Dialog Axiata was also included amongst the top turnover contributors. The share price of Dialog Axiata declined by Rs. 0.10 (0.94%) to close at Rs. 10.50.