Bourse ends week on negative note

The Colombo stock market ended the week on a negative note, shedding 1%. First Capital said Bourse concluded the day in red, predominantly dragged down by the price losses in NIFL and DIAL, negating the positive sentiment witnessed yesterday. 

The benchmark index, ASPI witnessed a volatile movement reaching an intraday high of 6,111 within the first hour, thereafter witnessing a downtrend to ultimately close at the intraday low of 6,090 losing 10 points. The parcel trade made in CDB accounted for 53% of the turnover.

A net foreign outflow was witnessed amidst low foreign participation.

NDB Equities said the Bourse shed 1% during the week. It said yesterday the ASPI closed in red as a result of price losses in counters such as LOLC Development Finance, Dialog Axiata and Asiri Hospital Holdings with the turnover crossing Rs. 379 million. The S&P SL20 edged up. 

Crossings were witnessed in Citizens Development Business Finance, accounting for 53.3% of the turnover. Mixed interest was observed in Commercial Bank whilst retail interest was noted in LOLC Holdings and Richard Pieris & Company. 

Foreign participation in the market activity remained at subdued levels with foreigners closing as net sellers, NDB Equities added.