CSE remains bearish

Saturday, 18 January 2020 00:00 - - {{hitsCtrl.values.hits}}

The Colombo stock market remained bearish as it ended Friday negatively midst foreign selling, though turnover was relatively healthy.

The All Share Price Index was down 8 points or -0.14% and S&P SL20 lost 16 points or 0.58%. Turnover was Rs. 600 million.

NDB Securities said ASI ended in red as a result of price losses in counters such as Commercial Bank, John Keells Holdings and Ceylon Cold Stores.

Crossings were witnessed in Ceylon Cold Stores, accounting for 65.8% of the turnover. Mixed interest was observed in Commercial Bank whilst retail interest was noted in Browns Investments.

Furthermore, foreigners remained active closing as net sellers. Total foreign sales accounted for 80.1% of the turnover.

During the week, the ASPI and the S&P SL20 lost 0.91% and 1.40%, respectively, whilst recording an average daily turnover of Rs. 1.18 billion.

Beverage, Food and Tobacco sector was the top contributor to the market turnover (due to Ceylon Cold Stores) whilst the sector index gained 0.79%. The share price of Ceylon Cold Stores decreased by Rs. 9.80 (1.23%) to close at Rs 790.

Diversified sector was the second highest contributor to the market turnover (due to John Keells Holdings and Browns Investments) whilst the sector index decreased by 0.55%. The share price of John Keells Holdings lost Rs. 0.90 (0.55%) to close at Rs. 163.10. The share price of Browns Investments recorded a gain of Rs. 0.10 (1.85%) to close at Rs. 5.50.

Commercial Bank and Sampath Bank were also included amongst the top turnover contributors. The share price of Commercial Bank moved down by Rs. 2.10 (2.28%) to close at Rs. 89.90. The share price of Sampath Bank appreciated by Rs. 0.40 (0.26%) to close at Rs. 152.50.