CSE starts new week negative; foreigners net buyers

The Colombo stock market began a new week negative as investor sentiment remain lacklustre amidst low activity. 

The ASPI decreased by 1.06% or 51.36 points to close at 4,795.40 points, while the S&P SL20 Index also decreased by 2.67% or 53.88 points to close at 1,962.20.

Acuity Stockbrokers said turnover decreased by 45.5% relative to last Friday to amount to Rs. 0.84 billion while crossings for the day amounted to 17.7% of the day’s total turnover.

Foreign Investors recorded a net inflow of Rs. 26.6 million over the day compared to a net inflow of Rs. 294.4 million recorded last Friday.

First Capital said the Bourse ended in the negative territory for the second consecutive session recording a high foreign participation, while a selling interest was witnessed in the Banking sector. The ASPI was dragged down predominantly due to the price losses in JKH and DIST. 

Index experienced a steep downward trend since the opening of the session thereafter moved sideways and hit its intraday low at 4,789 before closing at 4,795, losing 51 points. The turnover for the session was boosted by the parcel trades made in JKH, DIAL and CTC.

NDB Securities said the ASPI closed in red as a result of price losses in counters such as John Keells Holdings, Distilleries and Sampath Bank. A similar behaviour was witnessed in the S&P SL20. 

High net worth and institutional investor participation was noted in John Keells Holdings, Sampath Bank, Sunshine Holdings and Ceylon Tobacco Company. Mixed interest was observed in Commercial Bank and Dialog Axiata whilst retail interest was noted in First Capital Holdings.

Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings) whilst the sector index lost 2.48%. The share price of John Keells Holdings decreased by Rs. 2.90 (2.63%) to close at Rs. 107.20.

The Banking sector was the second highest contributor to the market turnover (due to Sampath Bank and Commercial Bank) whilst the sector index decreased by 2.72%. The share price of Sampath Bank lost Rs. 5.30 (4.47%) to close at Rs. 113.30. The share price of Commercial Bank declined by Rs. 1.40 (2.22%) to close at Rs. 61.60.

Sunshine Holdings and Dialog Axiata were also included amongst the top turnover contributors. The share price of Sunshine Holdings moved up by Rs. 0.70 (1.60%) to close at Rs. 44.50. The share price of Dialog Axiata closed flat at Rs. 10.40.