Losing streak continues

The bourse extended its losing streak for the third day during the week due to the noticeable force selling activities by brokering houses. ASI dropped by 34.43 points (-0.50%) to end at 6,895.61 while sensitive MPI dipped by 42.76 points (-0.68%) to settle at 6,227.65. Market turnover stood at Rs.1.6bn

John Keells Holdings Plc (Rs.186.1mn) emerged as the highest contributor to the turnover followed by Blue Diamonds Jewellery Plc (Rs.91.4mn) and Tess Agro Plc (Rs.89.7mn)

 

Meanwhile East West Properties Plc, Amana Takaful Plc and Blue Diamonds Jewellery Plc recorded heavy trading..

 

Foreign participation was recorded at 5.4% of the total market activity and at the end of the day foreign investors were the sellers with a net foreign outflow of Rs.53.2mn.

 

Dip in prices in index heavy counters such as John Keells Holdings Plc (down Rs.0.20) Aitken Spence Plc (down Rs.2.00), Environmental resources Plc (down Rs.1.10) pulled down the overall market performances.