Colombo Bourse turns negative

Thursday, 5 March 2020 02:49 - - {{hitsCtrl.values.hits}}

The Bourse ended on a negative note yesterday as the ASPI decreased by 1.48% or 82.96 points while the SandP SL20 Index also decreased by 2.65% or 70.44 points.

Market Turnover increased by 47.9% relative to Wednesday to amount to Rs. 0.48Bn while the crossings for the day accounted for 46.6% of the day’s total turnover.

Foreign Investors recorded a net outflow of Rs. 51.9 million over the day compared to a net outflow of Rs. 87.0 million recorded on Wednesday. NDB Securities’ said he ASPI closed in red as a result of price losses in counters such as Dialog Axiata, John Keells Holdings and LOLC Holdings. Crossings were witnessed in Sanasa Development Bank, Candor Opportunities Fund and Lion Brewery, accounting for 56.0% of the turnover. Mixed interest was observed in John Keells Holdings and Sampath Bank whilst retail interest was noted in Browns Investments. Furthermore, foreigners remained active closing as net sellers.

Banks sector was the top contributor to the market turnover (due to Sanasa Development Bank and Sampath Bank) whilst the sector index lost 2.09%. The share price of Sanasa Development Bank decreased by Rs. 1.90 (3.27%) to close at Rs. 56.20. The share price of Sampath Bank moved down by Rs. 4.50 (2.83%) to close at Rs. 154.50.

Food, Beverage and Tobacco sector was the second highest contributor to the market turnover (due to Lion Brewery and Browns Investments) whilst the sector index decreased by 0.48%. The share price of Lion Brewery closed flat at Rs. 600.00. The share price of Browns Investments declined by Rs. 0.20 (4.55%) to close at Rs. 4.20.

John Keells Holdings was also included amongst the top turnover contributors. The share price of John Keells Holdings recorded a loss of Rs. 2.50 (1.67%) to close at Rs. 147.50.