Bourse dips

Tuesday, 26 November 2019 00:00 -     - {{hitsCtrl.values.hits}}

The Colombo stock market began the week on a negative note with both indices down midst moderate turnover. 

NDB Equities said the ASPI closed in red as a result of price losses in counters such as Distilleries, Sri Lanka Telecom and Carson Cumberbatch with the turnover crossing Rs. 662 million. A similar behaviour was witnessed in the S&P SL20. 

It said high net worth and institutional investor participation was noted in Dialog Axiata, Aitken Spence and Sampath Bank. Mixed interest was observed in Access Engineering, John Keells Holdings and Royal Ceramics whilst retail interest was noted in Tokyo Cement Company nonvoting and Lanka IOC. Furthermore, foreigners closed as net buyers mainly due to foreign purchasing in Dialog Axiata.

CT CLSA said Dialog Axiata (DIAL – Rs. 13.0) emerged as the top contributor to turnover with Rs. 139 million (10.7 million shares), followed by Aitken Spence (SPEN – Rs. 47.4) with Rs. 74 million turnover (1.5 million shares) and Sampath Bank (SAMP – Rs. 167.5)  with Rs. 70 million turnover (0.4 million shares).

First Capital said beginning the week on a negative note, the market closed in red primarily on the price losses made by DIST and SLTL. ASPI reached an intraday high of 6,128 within the first half hour of trading, followed by a downtrend thereafter recording an intraday low of 6,079 prior to closing at 6,084, losing 36 points. 

Both turnover and volume recorded a near one week low while 14% of turnover was derived through the parcel trades made in SPEN and SAMP. A net foreign inflow was witnessed reverting the net outflow recorded for last three weeks, it added.