Colombo stocks dip

With high level of risk aversion, the Colombo Stock Exchange dipped into the negative territory today on the back of observed selling pressure.

ASI dipped by 21.16 points (-0.39%) to close at 5,456.51 while sensitive MPI dropped by 31.57 points (-0.66%) to end at 4,783.93. Market turnover stood at Rs.366.4mn.
The premier Blue Chip John Keells Holdings Plc registered the top turnover for the day at Rs.85.3mn. In addition Aitken Spence Holdings Plc (Rs.53.2mn) and PC Pharma Plc (Rs.26.9mn) made significant contributions to the daily turnover.
Heavy retail activity was seen in the market with retail counters such as Environmental Resources Plc, Blue Diamond Plc and PC House Plc demonstrated aggressive level of trading.
Foreign participation stood at 11.1% 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.8.1mn