Market continues to be bearish

The ASPI closed in red as a result of price losses in counters such as Melstacorp, Hayleys and Vallibel One with the turnover crossing Rs. 1.8 bn. 
A similar behaviour was witnessed in the S&P SL20. High net worth and institutional investor participation was noted in Agstar. 
Mixed interest was observed in Softlogic Capital, Softlogic Life Insurance and Lanka IOC whilst retail interest was noted in Browns Investments, LOLC Finance and SMB Leasing nonvoting. 
Foreign participation in the market activity remained at subdued levels with foreigners closing as net buyers.  Insurance sector was the top contributor to the market turnover (due to Softlogic Life Insurance) whilst the sector index lost 1.12%. The share price of Softlogic Life Insurance lost Rs. 5.75 (5.16%) to close at Rs. 105.75. 
Diversified Financials sector was the second highest contributor to the market turnover (due to Softlogic Capital and First Capital Holdings) whilst the sector index decreased by 0.45%. The share price of Softlogic Capital decreased by Rs. 0.90 (5.42%) to close at Rs. 15.70.  The share price of First Capital Holdings recorded a gain of Rs. 2.00 (6.17%) to close at Rs. 34.40. Lanka IOC and Browns Investments were also included amongst the top turnover contributors. 
The share price of Lanka IOC moved down by Rs. 0.50 (0.26%) to close at Rs. 191.50. The share price of Browns Investments closed flat at Rs. 6.60.