LOLC Securities Market Watch: Daily 2 September 2015

Melissa Pereira Thu Sep 03, 2015 9:55 am

Focus: During the day, ASPI was down by 58 points and S&P SL20 was down by 27 points. Bourse extended losses for the third consecutive day while today's losses were mainly driven by SLTL, JKH and CCS dragging the main index by 22.99 points. JKH highest contributor to the turnover recorded a price decline of LKR 2.60 to close the price at LKR 177.40. COMB, CTC, HNB.X and SAMP recorded crossings for the day while total crossings represented 26% of the market turnover. Foreign investors continued to be on net sellers with a net foreign outflow of LKR 36 Mn with net foreign selling mainly seen in JKH and SPEN. Meanwhile EDEN announced for an issue of 52.8 Mn shares by way of a right issue in the proportion of one new share for every existing share at a price of LKR 20. The purpose of the right issue is to repay the part of the outstanding debts.

§ Bank Finance & Insurance sector contributed mostly to the market turnover while the sector index was down by 0.96%.

§ Foreign investors were in a selling sentiment, while the net foreign outflows amounted to LKR 36 Mn.

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