Market began on a sluggish trend but gained during the latter part of the day helped by mixture Blue-chips and retail counters. As the results season is upon us, we see that interest on stocks is picking up. Market valuations have come down during the past month as a result of profit taking and settlements and gives further justification for an upturn. Although indices gained ground, turnover levels remained low.
ASI jumped by 33.47 points (0.60%) to close at 5,576.72, MPI gained 28.42 points (0.56%) to close at 5,104.17 and the S&P SL20 index gained 1.19 points (0.04%) to close at 3,009.59. Turnover was Rs. 271.9Mn.
Top contributors to turnover were Chevron Lubricants with Rs. 31.6Mn, Distilleries with Rs. 22.5Mn and People’s Leasing with Rs. 20.9Mn. Most active counters for the day were Environmental Resource Investments, Dankotuwa Porcelain and Nation Lanka Finance.
Notable gainers for the day were E.B. Creasy up by 32.7% to close at Rs. 1,400.00, SMB Leasing up by 25.00% to close at Rs. 0.50 and Environmental Resource Investment warrant- 6 up by 12.8% to close at Rs. 5.30. Notable losers for the day were Singer Industries down by 2.5% to close at Rs. 151.10, Renuka City Hotel down by 2.0% to close at Rs. 250.00 and Commercial Bank non-voting down by 1.6% to close at Rs. 90.50.
Cash map for today was 56.72% which indicates that buying pressure outweighed selling pressure. Foreign participation for today was 19.4% and net foreign inflow was Rs. 58.0Mn.