Negative sentiments persist at Colombo Bourse

Tuesday, 17 December 2019 00:00 - - {{hitsCtrl.values.hits}}

The Colombo stock market opened a new week on a negative note continuing the bear run experienced of late.

Acuity Stockbrokers said the ASPI decreased by 0.54% or 32.67 points to close at 6,057.00 points, while the S&P SL20 Index also decreased by 0.76% or 22.54 points to close at 2,936.17.

The market turnover decreased by 44.5% relative to last Friday to amount to Rs. 210 million while the turnover of JKH accounted for 13.2% of the day’s total turnover.

Foreign Investors recorded a net outflow of Rs. 7.2 million over the day compared to a net outflow of Rs. 42.2 million recorded on Friday.

NDB Equities said the ASPI closed in red as a result of price losses in counters such as Commercial Leasing & Finance, Sri Lanka Telecom and Melstacorp.

A similar behaviour was witnessed in the S&P SL20., it added.

High net worth and institutional investor participation was noted in John Keells Holdings. Mixed interest was observed in ACL Cables whilst retail interest was noted in Commercial Bank and Access Engineering. Furthermore, foreigners closed as net sellers.

According to NDB Equities the manufacturing sector was the top contributor to the market turnover (due to ACL Cables and Swisstek) whilst the sector index lost 1.31%. The share price of ACL Cables recorded a loss of Rs 0.60 (1.09%) to close at Rs 54.40. The share price of Swisstek appreciated by Rs. 0.40 (0.76%) to close at Rs. 52.90.

Banks, Finance and Insurance sector was the second highest contributor to the market turnover (due to Commercial Bank) whilst the sector index decreased by 0.56%. The share price of Commercial Bank closed flat at Rs. 96.50.

John Keells Holdings and Access Engineering were also included amongst the top turnover contributors. The share price of John Keells Holdings closed flat at Rs. 162.30. The share price of Access Engineering lost Rs. 0.60 (2.78%) to close at Rs. 21.