Colombo Stock Indices closed in red after gaining during early trading, as prices depreciated in illiquid stocks. However, a reaction for positive earnings results was witnessed to a certain extent.
Sri Lanka’s All Share Price Index (ASPI) closed at 7,339.65 points, dipped 0.52% by 38,21 points and the Milanka Price Index (MPI) dropped 0.29% by 19.59 points closing at 6,740.82 points during the day. Total turnover was Rs.1.57 billion dipped 2.59% with a volume of 84.6 million shares changing hands (up 1.12%). Foreign purchases dropped 57.87% to Rs.58.14 million and foreign sales increased by 59.84% to Rs.136.13 million. Price to forward Earnings Ratio (PER) dipped 0.38% to 26.2 times.
The Bank, Finance & Insurance sector was the main contributor to the market turnover mainly due to Nation Lanka Finance (CSF) and Lanka Ventures (LVEN) with the sector index decreasing 0.37%. Nation Lanka Finance (CSF) was the main contributor to the market turnover.
The share price increased by Rs.0.70 (4.46%) and closed at Rs.16.40. The Manufacturing sector also contributed to the market turnover mainly due to Pelawatte Sugar (SUGA) with sector index decreasing 0.26%.
The share price of Ceylon Cold Stores (CCS) increased by Rs.50.10 (6.30%) amidst an announcement of a proposed sub-division and a rights issue. The rights are to be issued on the basis of one (1) for every ten (10) shares at Rs.300 per share, followed by a subdivision of four (4) for every one (1) share.
Union Assurance (UAL) also announced a sub-division of one (1) for every two (2) shares. The share price increased by Rs.25.10 (11.09%). Lion Brewery (LION) announced an interim dividend of Rs.4 per share.
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