After starting on positive note market fell later in the day due to price declines in index heavy weighted stocks. ASI dipped by 26.05 points to close at 3809.01 while MPI lost 11.57 to close at 4382.32. Turnover was 627.06 million rupees.
Aitken Spence Plc was down by 28.50 to close at 1361.50 while Carsons Cumberbatch Plc lost 16.00 to close at Rs 534.00.Index heavy John Keells Holdings closed at 167.00, down one rupee while fixed line telecom giant Sri Lanka Telecom lost 50 cents to close at Rs 37.00. Touch Woods Investments Plc closed at Rs 111.50, down 11.50.
Aitken Spence Hotels Holdings was up by 6.25 to end the day at Rs 415.00 while Environmental Resources Holdings Plc gained 4.50 to close at Rs 239.75. Kegalle Plantations Plc was up by three rupees to close at Rs 49.75.
Meanwhile Kshatriya Holdings has announced the disposal of their investment in Sithro Garment Company Limited for a total consideration of Rs 20,746,587.00.
Foreigners were net buyers with Rs 127.14 million in purchases & Rs 63.33 million in sales.
Investors should pay attention on undervalued Hotel Sector stocks as the tourist industry is now on growing path. Don’t buy hotel stocks with heavy carried forward losses as some of them will never recover.
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