Sri Lanka's stocks closed in a slightly negative trend Tuesday with index heavy blue chip stocks gaining ground analysts said.
Strong buying emerged in the market with blue chips leading from the front following the positive company results that has been released so far, they added.
Buying interest seems to be stepping into the market, but mostly on rumours rather than value, a stock broker said.
Market demonstrated a slight drop at the end of the day’s trading despite the positive momentum prevailed earlier. The All Share Price Index ASPI closed the day at 4,945.13; dropping 4.33 points and The S&P SL20 Price Index dropped 3.69 points to close at 2,795.62. The liquid Milanka Price Index M PI closed the day increasing 25.07 points to end the day at 4,594.92,he added.
The daily turnover was Rs. 366.8 million. The Lion Brewery Ceylon PLC made the highest contribution of Rs. 59.8million to the turnover largely backed by Rs 23 million worth of crossing. John Keells Holdings PLC and Pc House PLC were the second and third highest contributors with Rs. 52.2million and Rs. 52.1 million respectively, he said.
A total of 21milion shares changed hands during trading Tuesday which is a 78% reduction against the previous day. PC House PLC (8.8million) and Richard Pieris & Company PLC (1.5million) were the top traded counters, winning retailers’ interest, stock broker said.(Bandula)