Market bearish in anticipation of the budget

The ASPI closed in red as a result of price losses in counters such as Expolanka Holdings, LOLC Holdings and Vallibel One with the turnover crossing Rs 941 Mn. A similar behaviour was witnessed in the S&P SL20. High net worth and institutional investor participation was noted in Sampath Bank, John Keells Holdings and Nestle Lanka. Mixed interest was observed in Expolanka Holdings, Lanka IOC and Sri Lanka Telecom whilst retail interest was noted in Browns Investments, LOLC Finance and Industrial Asphalts.

Foreign participation in the market activity remained at subdued levels with foreigners closing as net sellers.
Food, Beverage & Tobacco sector was the top contributor to the market turnover whilst the sector index lost 0.65%. Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings) whilst the sector index decreased by 0.40%. The share price of John Keells Holdings moved up by Rs 1.00 (0.72%) to close at Rs 139.75.

Expolanka Holdings, Lanka IOC, Sri Lanka Telecom and Sampath Bank were also included amongst the top turnover contributors. The share price of Expolanka Holdings decreased by Rs 5.25 (3.43%) to close at Rs 148.00. The share price of Lanka IOC gained Rs 4.00 (2.23%) to close at Rs 183.50. The share price of Sri Lanka Telecom recorded a gain of Rs 4.20 (7.04%) to close at Rs 63.90. The share price of Sampath Bank declined by Rs 0.40 (1.23%) to close at Rs 32.20.
Furthermore, Ceylon Tobacco Company announced a third interim cash dividend of Rs. 9.00 per share.