The Colombo equity market further dipped into the negative territory on account of the weak investor sentiments. Notably ASI dropped below 6, 000 mark today for the first time during 2011. 
 

ASI dropped significantly by 168.61 points (-2.79%) to close at 5,866.75 where as liquid MPI dipped by 129.92 points (-2.5%) to settle at 5,145.49. Market turnover was recorded at Rs.1.6bn.

 

John Keells Holdings Plc (Rs.589.9mn) was the top contributor to the daily turnover. Furthermore JKH recorded two crossings of 1mn shares at a price of Rs.175.00. In addition Colombo land & Development Plc (Rs.119.7mn) and Hatton National Bank Plc (Rs.87.0mn) made notable contributions to the daily turnover.

 

Meanwhile retail counters such as HVA foods Plc, Panasian Power Plc and Orient Garment Plc recorded active level of trading. Today People’s leasing Plc commenced its secondary trading. PLC closed at its IPO price of Rs.18.00

 

Foreign participation was relatively lower and it stood at 4.3% of the total market activity and at the end of the day foreign investors were the net sellers with a net foreign outflow of Rs.64.4mn.