Stock market turnover crosses Rs.9.1bn: LOLC Group accounts for bulk

Bolstered by the benchmark All Share Price Index (ASPI) crossing the 7, 000-point mark on Wednesday, the Colombo Stock Exchange yesterday steamed ahead with full throttle with market turnover crossing Rs.9.1 billion. ASPI gained 60.08 points or 0.87 percent to close at 7, 097.84 while the more liquid S&P SL 20 lost 10.633 points or 0.39 percent to close at 
2, 692.56.

NDB Securities said the ASPI closed in green as a result of price gains in counters such as Browns Investments, LOLC Holdings and Sri Lanka.

“High net worth and institutional investor participation was noted in BPPL Holdings and John Keells Holdings. Mixed interest was observed in LOLC Holdings, Browns Investments and Expolanka Holdings, whilst retail interest was noted in Brown & Company, Softlogic Capital and Lanka Orix Finance,” NDB 
Securities said. 

Interestingly, LOLC Group of companies and related party transactions accounted for over Rs.6.1 billion out of yesterday’s Rs.9.1 billion market turnover, with Browns Investments PLC contributing over Rs.4 billion. Browns Investments share closed at Rs.6.80, up Rs.1.10 or 19.30 percent.

Foreigners however continued to be net sellers in the market, with yesterday’s foreign sales at Rs.375 million and purchases at Rs.78 million.