After some volatility in early trading, market became stagnant to close the indices on red, reflecting the continued negative momentum. Volume levels remained low amidst dull investor sentiment.
Turnover was boosted by the change of hands of a substantial stake of Central Finance. Banking, Finance and Insurance sector contributed significantly to the market turnover with sector index decreasing 0.12%. Contribution from the sector accounted for around 66% of the total turnover today. This was mainly due to the negotiated deal (1,600,000 shares at Rs 800) pertaining to Central Finance (it is likely that SLIC sold its stake).
The share price of the company increased by Rs 125 (15.55%) and closed at Rs 934. Diversified sector also contributed to the market turnover mostly due to Hayleys. The sector index decreased by 0.36%. Laugfs Gas announced an interim dividend of Rs 1.50 per share while Ceylon Grain Elevators announced an interim dividend of Rs 1 per share. Namunukula Plantations and Kegalle Plantations also announced interim dividends of Rs 1.00 per share and Rs 2.50 per share respectively. Investors’ reaction to the dividends announcements was comparatively negligible except for some response for Laugfs Gas.
source - www.dailymirror.lk
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