Home / Financial Services/ Bourse dips

Bourse dips


Comments / {{hitsCtrl.values.hits}} Views / Tuesday, 26 November 2019 00:00


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.


Share This Article

Facebook Twitter


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

Stock market, Mark Mobius and State entities

Wednesday, 29 January 2020

The expert of emerging capital markets, Mark Mobius was in Sri Lanka recently. A key recommendation he made for the development of the local capital market was to list certain State entities in the Colombo stock market. The local stock brokerages se


Autocatalytic descent from plural democracy to supremacist authoritarianism

Wednesday, 29 January 2020

In a few days, Sri Lanka will celebrate its 72nd year of independence from colonialism. But behind the pomp and pageant of that celebration is a sad reality of an autocatalytic process – a small initial event triggering a chain reaction that evolve


Trump destroying brand USA: Implications for Sri Lanka

Wednesday, 29 January 2020

There is an old adage that ‘politics and tourism’ has a positive correlation. Many have tried to disprove this aspect but the relationship is coming out very strongly, the latest case study to the world being in the United States.


Freedom! Freedom! Where art thou?

Wednesday, 29 January 2020

Freedom: who could object? Yet this word is now used to justify a thousand forms of exploitation. In the name of freedom – the freedom of the powerful to exploit the weak, the rich to exploit the poor. The definition of freedom is, the condition of


Columnists More