Colombo Market faced selling pressure due to profit taking by retail investors on gains made during the past few weeks. ASI lost 6.43 points to close at 4226.49 while MPI lost 10.34 points to close at 4721.78. Turnover was 2.76 billion rupees.  
Turnover was boosted by heavy trading in Confifi Hotels & Commercial Bank. LOLC purchased 3,119,691 (43.33% of the stated capital) in Confifi Hotel Holdings Plc at Rs 210/- per share. In recent past there were several listed Hotels subjected to takeovers. Sri Lanka’s tourism sector is expected to take off due to current peaceful environment prevailing in the country.  
Index heavy JKH & SLT lost Rs 1.75 & 50 cents respectively. JKH closed at Rs 177.50 while Sri Lanka Telecom closed at Rs 36.75.
Central Finance Company Plc the Sri Lanka’s biggest listed finance company closed at Rs 400.00, up 10.50. Lanka Orix Leasing Plc gained Rs 16.25 to close at 276.50. Riverina Hotels Plc was up by Rs 19.00 to close at 129.00.
Foreign investors were net sellers with Rs 978.8 million sales & Rs 606.1 million in purchases.

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Filed under: CSE Daily Stock Market Report

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