The market activity in the Colombo Stock Exchange witnessed mixed results as the week which began on a positive note endured a temporally blip but recovered and ended marginally up as investors looked to exploit on capital gains. The benchmark All Share Price Index (ASPI) was up 16.31 points week on week to close at 3,824.17 and more sensitive Milanka Price Index (MPI) gained 32.90 points WoW to end at 4,387.63. Average daily turnover for the week stood at Rs.1.3bn (+35.4%WoW). Foreign participation represented 17.4% of the total market activity and ended as net sellers with a significant net foreign outflow of Rs.522.5mn.

Bourse reopened for the week on a positive note on Monday with both indices recording gains. The ASPI gained 17.44 points to close at 3,825.30 and MPI ended at 4,390.61, up by 35.88 points. Healthy activity levels recorded in the tile sector counters such as Royal Ceramic Plc (Rs.78.3mn), Lanka Ceramic Plc (Rs.45.2mn) and John Keells Holdings (Rs.41.7mn) were the main contributors to days’ turnover of Rs.1.0bn while hotel sector counters such as Keells Hotels Plc and Galadari Hotels Plc actively contributed to the day’s turnover.

The market ended on negative territory on Tuesday as profit taking by investors drove the benchmark indices down on as ASPI closed at 3,820.66, down by 4.64 points and the liquid MPI dropped 1.05 points to close at 4,389.56. Banking and Finance sector counters pushed the days’ turnover to Rs.1.6bn.
National Development Bank (Rs.233.2mn) was the top contributor to the turnover with large parcels changing hands during the day and Lanka Wall Tile Plc and HNB Assurance Plc added Rs.167.7mn and Rs.102.0mn to the day’s turnover respectively. Environmental Resource counters (voting and warrants 2011) was traded heavily with the announcement of right issue dates and Lanka Ceramic PLC and Ceylon Theatres PLC were also among the actively traded counters for the day.

On Wednesday, the market ended on a negative note with indices recording further losses. The benchmark ASPI dropped by 46.63 points to end at 3,774.03 whilst MPI recorded 4,318.86, a further drop of 70.70 points. However, high trading activity boosted the daily turnover to Rs.1.0bn with several off the floor deals of Connaissance Holdings Plc (Rs.141.0mn), Seylan Bank non-voting (Rs.90.2mn) and Chevron Lubricants Plc (Rs.88.1mn) emerging as the top contributors to the turnover while Blue Diamond Jewellery Plc and Renuka Holdings Plc actively contributed to the days’ performance.

High investor participation drove the benchmark indices up on Thursday with ASPI and MPI gaining by 31.82 points and 43.37 points to close at 3,805.85 and 4,362.23 respectively. Foreign participation was relatively high on the day with foreign buying amounting to Rs.715.1mn. The daily turnover passed Rs.1.0bn mark for the fourth consecutive day by recording Rs.1.7bn.The index heavyweights National Development Bank Plc (Rs.555.1mn), Asian Alliance Insurance (Rs.247.1mn) and Ceylon Theaters (Rs.172.4mn) topped the daily turnover list whilst Renuka Holdings Plc and Janashakthi Insurance Plc also attracted investor interest during the day.

The market ended the weekly operations on a positive note on Friday as both indices recorded substantial gains. ASPI gained 18.32 points to end at 3,824.17 while more sensitive MPI closed at 4,387.63, a gain of 25.40 points. Index heavy banking sector counters such as Sampath Bank Plc (Rs.114.9mn), National Development Bank (Rs.105.7mn) and Asian Hotels Properties Plc (Rs.75.2mn) were the top contributors to the daily turnover of Rs.1.2bn while Galadari Hotels Plc, Seylan Bank nonvoting and Taj Lanka Hotels were among the actively traded counters for the day.