CSE ends on mixed note

Wednesday, 11 September 2019 00:00 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday ended on a mixed note, as the ASPI increased by 0.10% or 5.95 points to close at 5,822.47 points, while the S&P SL20 Index decreased by 0.57% or 16.10 points to close at 2,815.30.

Acuity Stockbrokers said market turnover increased by 87.8% relative to Monday to amount to Rs. 0.72 billion, while the crossings for the day amounted to 32.7% of the day’s total turnover.

Foreign investors, recorded a net outflow of Rs. 46.4 million over the day compared to a net outflow of

Rs. 1.1 million recorded Monday,” Acuity added.

NDB Securities said the ASPI edged up as a result of price gains in counters such as Ceylon Cold Stores, Browns Investments and Distilleries.

“High net worth and institutional investor participation was noted in Melstacorp and Citizens Development Business Finance. Mixed interest was observed in Sampath Bank and Union Bank whilst retail interest was noted in Browns Investments,” NDB added.

CT CLSA said Melstacorp (MELS – Rs.43.5) emerged as the top contributor to turnover with Rs.181 million (4.2mn shares), followed by Browns Investments Limited (BIL – Rs.5.2) with Rs.148 million turnover (29.1mn shares) and Sampath Bank (SAMP – Rs.158.0) with Rs.87 million turnover (0.6mn shares).

First Capital said market retained in the positive territory for the second trading session predominantly on the price gains made by CCS. “ASPI had a volatile movement until the midday of trading, recording an intraday low of 5,813 and witnessed a surge in the last half hour of trading which led to anintraday high of 5,828 prior to closing at 5,822, gaining 6 points,” it added.