"The ASPI declined slightly to reach a 23 trading day low, on the back of declines in a few large cap counters including SPEN, SLTL, and NEST. Turnover levels were dominated by LGL and SAMP, which collectively accounted for around 35% of turnover," John Keells Stock Brokers said.
Brokers said there was some selective buying among institutional and high net worth individuals while retail play was subdued. They attributed the lackluster market to high interest rates available on fixed income instruments.
Yesterday’s major business generators were Sampath Bank, Laugfs Gas (both voting and non-voting), Asian Hotel Properties and JKH. There were no block trades.
Sampath headed the turnover league closing flat at Rs.149.10 with nearly 0.3 million shares done between Rs.149.10 and Rs.150 contributing Rs.41.6 million to turnover.
Laugfs non-voting was up 20 cents to close at Rs.16.30 with nearly 1.3 million shares done between Rs.16.10 and Rs.17.40 generating a business volume of Rs.21 million while the voting share closed 30 cents down at Rs.22.80 on over 0.6 million shares done between Rs.22.70 and Rs.24.90.
Asian Hotels saw nearly 0.2 million shares traded between Rs.73.50 and Rs. 73.70 closing 10 cents down at Rs.73.50.
JKH closed Rs.1.40 down at Rs.178.50 on 77,830 shares traded between Rs.177.90 and Rs.180.
Other counters that contributed to turnover included Carsons closing flat at Rs.463 on 22,000 shares and Commercial Bank non-voting closing flat at Rs.76 on over 0.1 million shares. Capital Alliance Finance closed 20 cents up at Rs.31.10 on nearly 0.3 million shares done between Rs.292.10 and Rs.32.60.