LOLC Securities Market Watch: Daily 24 August 2015

Melissa Pereira Tue Aug 25, 2015 9:39 am

Focus: During the day, ASPI was down by 140 points and S&P SL20 was down by 87 points. Market recorded a turnover worth of LKR 3.3 Bn due to hefty crossings took place during the day while counters such as JKH, COMB and DIAL led the decline in the main index. TAP became the highest contributor to the turnover due to the negotiated deal took place where C.H.C Investments (PVT) Ltd purchased 310,828,346 voting ordinary shares of TAP at LKR 5.50 today. This amounted to 30.99% of the issued share capital of TAP. Further DIAL, ABL and HNB recorded crossings for the day while total crossings represented 58% of the turnover. Foreign investors continued to be net sellers recording a net foreign outflow of LKR 164 Mn with net foreign selling was seen in TAP, COMB and JKH. Meanwhile ASPI started the day at 7471 level and showed a slight declining trend to close operations at 7331 level

§ Diversified Holdings sector contributed mostly to the market turnover while the sector index was down by 2.57%.

§ Foreign investors were in a selling sentiment, while the net foreign outflows amounted to LKR 164 Mn.

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