CSE ends week negative

Saturday, 29 February 2020 00:00 - - {{hitsCtrl.values.hits}}

The Colombo stock market ended yesterday and the week on a negative note as investors turned bearish amidst global concerns over the rapid spread of coronavirus.

The ASPI declined by 75 points and the S&P SL 20 Index by over 43 points whilst turnover was relatively better at Rs. 755 million as against Rs. 486 million on Thursday. Foreigners remained active closing as net sellers. Total foreign sales accounted for 51.6% of the turnover.

NDB Securities said the ASPI closed in red as a result of price losses in counters such as Dialog Axiata, John Keells Holdings and Ceylon Tobacco Company.During the week, the ASPI and the S&P SL20 lost 4.07% and 5.61% respectively whilst recording an average daily turnover of Rs. 524 million.

NDB Securities said yesterday high net worth and institutional investor participation was noted in Ceylon Tobacco Company, Commercial Bank and Ceylon Cold Stores. Mixed interest was observed in Sampath Bank, John Keells Holdings and Teejay Lanka.

Food, Beverage & Tobacco sector was the top contributor to the market turnover (due to Ceylon Tobacco Company and Ceylon Cold Stores) whilst the sector index lost 1.14%. The share price of Ceylon Tobacco Company decreased by Rs. 13.00 (1.16%) to close at Rs. 1,110.00. The share price of Ceylon Cold Stores moved down by Rs. 20.00 (2.53%) to close at Rs. 770.00.

Banks sector was the second highest contributor to the market turnover (due to Commercial Bank and Sampath Bank) whilst the sector index decreased by 1.14%. The share price of Commercial Bank lost Rs. 2.00 (2.29%) to close at Rs. 85.50. The share price of Sampath Bank recorded a loss of Rs. 0.70 (0.44%) to close at Rs. 159.50.

John Keells Holdings was also included amongst the top turnover contributors. The share price of John Keells Holdings declined by Rs. 3.00 (2.01%) to close at Rs. 146.00. People‘s Insurance announced an interim dividend of Rs. 1.10 per share. Sanasa Development Bank announced a final dividend of Rs. 2.00 per share. Nestle Lanka announced its interim dividend and final dividend of Rs. 30.00 and Rs. 17.5 per share respectively.