The market took another dive yesterday with the ASPI dipping 249 points or 1.97% on the ASPI and the more liquid S&P SL20 dipping 111.52 or 2.61% on a slightly less turnover of 5.374 billion. The mkt was dragged down once again by mostly EXPO down 4.32% to 321/25 LOLC down 2.84% to 1119/- BIL down 2.67% to 14.60 VONE down 8.58% to 79.90 RCL down 7.71% to 67 and several of the plantation companies like Watawala Hapugasthanna , Kalani Valley, Agalawatte, Elpitiya all dropping over 7% showed the nervousness of the market as this correction is led by the heavyweights like Expo now down over 20% + from it’s RS 400 highs , similar to LOLC BIL Hayleys Vallibel One all down over 15% to 20% and some even more from the peaks. There may be a slight recovery but overall the index can drop a little more in line with the above shares before recovering slowly to head towards the 15000 ASPI. Overall this correction will last a few weeks so the market can take into account the absolutely marvelous results being announced like the cable sector delivering the best ever quarterly results in the recent past.
