The ASPI declined sharply due to price declines in market heavyweights such as Ceylon Tobacco Company, John Keells Holdings, Commercial Bank, Lanka Orix Leasing Company, and C T Holdings. The day’s total turnover was recorded at moderate levels to which Distilleries Company of Sri Lanka contributed the majority,assisted by way of two crossings and some block trades on the normal board. Crossings were also recorded in Dialog Axiata and Ceylon Tobacco Company. Foreign investors were net buyers during the day. The All Share Price Index lost37.6 points to close at 6,670.8 (-0.6%), while the S&P SL20 Index lost27.5 points to close at 3,482.6(-0.8%). Total turnover for the day stood at LKR 710.7mn (USD 4,869.6k) vs. 12-months average daily turnover of LKR 1,046.2mn (USD 7,168.2k), whilst the volume traded for the day was 32,174k against the 12-month average daily volume of 40,964k. · Top contributory counters towards the day’s turnover were Distilleries Company of Sri Lanka LKR 116.1mn (USD 795.6k, +1.2%), Dialog Axiata LKR 91.2mn (USD 624.6k, +0.9%), John Keells Holdings LKR 60.4mn (USD 413.8k, -1.3%), Ceylon Tobacco CompanyLKR 43.7mn (USD 299.3k, – 2.6%), Swisstek Ceylon LKR 42.0mn (USD 288.0k, +0.6%).Foreign purchases amounted to LKR 372.2mn (USD 2,550.4k), whilst foreign sales amounted to LKR 324.6mn (USD 2,224.3k). This resulted in a net foreign inflow of LKR 47.6mn being recorded at the end of the day’s trading.
Asian stocks rose for a second day following gains in the US markets and oil companies climbed on higher crude prices. The MSCI Asia Pacific Index added 0.2 percent to 126.63. Japan’s Topix index rose 0.7 percent and South Korea’s Kospi index added 0.2 percent. Australia’s S&P/ASX 200 Index increased 0.2 percent. New Zealand’s S&P/NZX 50 Index rallied 0.8 percent. Markets in China and Hong Kong have yet to start trading. According to media reports, Apple jumped the most since March after Warren Buffett’s Berkshire Hathaway disclosed a stake in the world’s most valuable company.
In Oil – Brent crude , the international benchmark, is trading close to USD50 per barrel while West Texas Intermediate (WTI), the US benchmark, is around USD48. Oil prices have gained more than 80% since hitting a 12-year-low earlier this year.
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