Relatively dull market activity levels were witnessed in the stock market yesterday. ASI dropped marginally by 3.12 points (-0.04 percent) while more liquid MPI lost 10.44 points (-0.15 percent) to close at 7,022.28.
Daily market turnover reached Rs 2.1 billion.
LB Finance Plc was the top contributor to the turnover (Rs 330.9mn) followed by Bairaha Farms Plc (Rs 200.0mn) and Distilleries Company Plc (Rs 150.4mn). LB Finance Plc recorded two off-the-floor deals of 1.8mn shares at a price of Rs 175.00. The counter closed at Rs 175.00, up Rs 4.90
Heavy trading was seen in poultry sector counters. Counters such as Bairaha Farms Plc, Celyon Grain Elevators Plc and Three Acre Farms Plc commenced trading on a rush and traded aggressively throughout the day.
The rally is expected to continue with the upcoming festival season.
Yesterday NDB started its trading after the subdivision of shares. The counter reached the high of Rs 175.10 to close at Rs 173.00, up Rs 2.80.
Foreign participation was 9.6 percent of the total market activity.
At the end of the day foreign investors were the net buyers with a net foreign inflow of Rs 92.7mn.
Lanka Securities Research
source - www.dailynews.lk
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