Wednesday Sep 10, 2025
Wednesday Sep 10, 2025
Wednesday, 10 September 2025 05:41 - - {{hitsCtrl.values.hits}}
LOLC Group yesterday sold part of its stake in Digital Mobility Solutions Lanka PLC or PickMe whilst medium to long-term foreign fund Tundra stepped up buying.
PickMe dominated turnover with Rs. 1 billion involving 23.4 million shares. The LOLC subsidiary sold the majority. As at 30 June 2025, as third largest and founder shareholder, it held 31 million shares or 9.33%. Analysts speculated LOLC sold between 20-25 million shares. Among buyers were the Tundra Fund. The share price closed at Rs. 132.75, up by 50 cents. PickMe saw 23.4 million shares traded for Rs. 3 billion.
The other major turnover contributor was Hatton Plantations with Rs. 580.7 million involving 19.35 million shares. Among buyers were high net worth investors.
Apart from these deals the market closed negatively though on high turnover.
The benchmark ASPI and active S&P Sl20 were down by 1%. Turnover was Rs. 9 billion involving 237.5 million shares.
First Capital said easing to a two-week low, the market ended on a negative note. The Banking sector and blue chip companies depicted negative investor sentiment. CTC, JKH, SAMP, DIAL and HNB marked the top negative contributors to the index. Higher retail participation underpinned the selling pressure, whereas HNW participation was shown only on selected stocks. Turnover was 22% higher than the monthly average. Increased HNW involvement in PKME lifted the turnover, placing the Transportation sector as the leading contributor with a 34% share. The Food, Beverage and Tobacco sector and Capital Goods sector collectively accounted for 25% of the turnover. Foreign investors turned net buyers, recording a net inflow of Rs. 1.4 billion.
NDB Securities said crossings were witnessed in Digital Mobility Solutions Lanka, Nations Trust Bank and John Keells Holdings, accounting for 67.2% of the turnover. Mixed interest was observed in Hatton Plantations, Aitken Spence Hotel Holdings and LOLC Holdings whilst retail interest was noted in LOLC Finance, Hikkaduwa Beach Resort and Renuka Agri Foods. Furthermore, foreigners closed as net buyers.
The transportation sector was the top contributor to the market turnover (due to Digital Mobility Solutions Lanka) whilst the sector index gained 0.34%. The share price of Digital Mobility Solutions Lanka rose by 50 cents to Rs. 132.75.
The Food, Beverage and Tobacco sector was the second highest contributor to the market turnover (due to Hatton Plantations) whilst the sector index decreased by 0.89%. The share price of Hatton Plantations lost 40 cents to Rs. 30.30.
Aitken Spence Hotel Holdings, LOLC Holdings, and Laugfs Gas were also included amongst the top turnover contributors. The share price of Aitken Spence Hotel Holdings moved up by Rs. 2.75 to Rs.
105. The share price of LOLC Holdings recorded a loss of 75 cents to Rs. 560.25. The share price of Laugfs Gas appreciated by one Rupee to Rs. 67.50.
Browns Investments despite its announcements of multi-million US dollar sale of Maldives resort on Monday, saw its share price dip by 10 cents to close at Rs. 7.50 though 19.6 million shares traded for Rs. 149.5 million.
