CSE opens new week negatively

The Colombo stock market began a fresh week on a negative note with both indices down though turnover was healthy. 

Acuity Stockbrokers said the ASPI decreased by 0.11% or 6.88 points to close at 5980.67 points, while the S&P SL20 Index also decreased by 0.49% or 13.78 points to close at 2816.98.

Market turnover was a healthy Rs. 1.08 billion while the crossings amounted to 47.1% of the day’s total turnover. 

Foreign investors recorded a net outflow of Rs. 548.1 million over the day compared to a net outflow of Rs. 0.1 million recorded on Thursday.

NDB Equities said the ASPI edged down as a result of price losses in counters such as Ceylinco Insurance, LOLC Holdings and Commercial Bank.

Crossings were witnessed John Keells Holdings, Access Engineering, Ceylon Tobacco Company and Amana Bank.

Mixed interest was observed in Sampath Bank whilst retail interest was noted in Browns Investments.

Foreigners remained active closing as net sellers mainly due to foreign selling in John Keells Holdings. Total foreign sales accounted for 51.3% of the turnover.

Diversified sector was the top contributor to the market turnover (due to John Keells Holdings and Browns Investments) whilst the sector index gained 0.38%. The share price of John Keells Holdings increased by Rs. 0.70 (0.43%) closing at Rs. 163.50 whilst foreign holdings decreased by 2,793,908 shares. The share price of Browns Investments moved up by Rs. 0.20 (3.64%) to close at Rs. 5.70.

Construction and Engineering sector was the second highest contributor to the market turnover (due to Access Engineering) whilst the sector index increased by 2.76%. The share price of Access Engineering gained Rs. 0.70 (3.57%) to close at Rs. 20.30. Ceylon Tobacco Company and Sampath Bank were also included amongst the top turnover contributors. The share price of Ceylon Tobacco Company closed flat at Rs. 1,100. The share price of Sampath Bank declined by Rs. 3.20 (2.06%) to close at Rs. 151.80.