Colombo equities ended weekly operations with negative returns ahead of the mid-year monetary policy review. During the opening hours, main index increased to 7,035 mark but failed to maintain the momentum and touched 10 week low. All share index declined by 15.13 index points (-0.22%) to close at 7,016.20 while 20-scrip S&P SL index shed 12.47 index points or 0.32% to end at 3,900.59.
Price declines in high caps such as Dialog Axiata (closed at LKR 10.40, -2.8%), Ceylon Tobacco Company (closed at LKR 902.00, -0.9%) and John Keells Holdings (closed at LKR 204.00, -0.5%) affected index performance negatively.
Daily market turnover reached to LKR 861mn supported by several crossings in Commercial Bank (1.7mn shares at LKR 160.00-161.00), John Keells Holdings (0.5mn shares at LKR 200.00) and Distilleries (0.1mn shares at LKR 270.00). Aggregate value of crossings represented 45% of the total turnover.
Accordingly, Commercial Bank emerged as the top contributor to the turnover with LKR 267mn while Distilleries (LKR 214mn), John Keells Holdings (LKR 106mn) and National Development Bank (LKR 26mn) were next best contributors to the turnover.