Industry Analysis

Foreign Buying Continues Amid Market Declines

Indices closed in the red due to price drops in stocks like Hayleys, Hatton National Bank, and Melstacorp, with the turnover surpassing Rs. 1.5 billion. Notable crossings occurred in Windforce, Sampath Bank, John Keells Holdings, and Alumex, which together accounted for 52.1% of the turnover. There was mixed interest in Hayleys, LVL Energy Fund, and Hatton National Bank, while retail investors showed interest in SMB Leasing, Browns Investments, and LOLC Finance. Foreign investors ended the day as net buyers.

The Utilities sector contributed the most to the market turnover, driven by Windforce Limited and LVL Energy Fund Limited, with the sector index gaining 1.09%. Windforce Limited’s share price increased by Rs. 0.50 (2.50%) to close at Rs. 20.50, while LVL Energy Fund Limited’s share price decreased by Rs. 0.10 (2.17%) to close at Rs. 4.50.

The Banking sector was the second highest contributor to market turnover, led by Sampath Bank, despite the sector index decreasing by 0.41%. The share price of Sampath Bank remained unchanged at Rs. 79.00.

John Keells Holdings and Hayleys were also among the top turnover contributors. John Keells Holdings’ share price fell by Rs. 1.50 (0.73%) to close at Rs. 203.50, and Hayleys’ share price dropped by Rs. 3.50 (3.32%) to close at Rs. 102.00.