S&P SL 20 ends June up 12.5%; ASI by 6.2%

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The Colombo stock market remained negative yesterday but finished the month of June positive with the active S&P SL 20 Index up 12.5% and the benchmark All Share Price Index (ASPI) higher by 6.2% as per NDB Securities. It also said turnover was healthy averaging

Rs. 1.38 billion daily during June.

Acuity Stockbrokers said the Bourse ended on a negative note as the ASPI decreased by 0.08% or 4.20 points to close at 5,149.57 points, while the S&P SL20 Index also decreased by 0.38% or 8.55 points to close at 2,268.77. Turnover increased by 92.5% relative to Tuesday to Rs. 2.30 billion while crossings for the day amounted to 28.9% of the day’s total turnover.

Foreign Investors meanwhile, recorded a net outflow of Rs. 0.60 billion over the day compared to a net outflow of Rs. 0.37 billion on Tuesday. First Capital said the Bourse ended in the negative territory for the second consecutive session experiencing a slip from a 3 month high. “Index recorded a continuous downtrend since the beginning of the session and hit its intraday low of 5,135 before closing at 5,150 losing 4 points,” it said.

First Capital said ASPI was dragged down predominantly due to the dip in prices of John Keells Holdings (JKH) and Dialog. Parcel trades boosted the turnover for the session contributing to 29% of the total.

The market continued to record a net foreign outflow while experiencing moderate participation, First Capital added.

NDB Securities said the ASPI edged down as a result of price losses in counters such as John Keells Holdings, Dialog Axiata and Ceylon Tobacco Company. It said high net worth and institutional investor participation was noted in Hemas Holdings. Mixed interest was observed in John Keells Holdings and Commercial Bank whilst retail interest was noted in LOLC Holdings and First Capital Holdings.

Foreigners remained active closing as net sellers. Total foreign sales accounted for 41.3% of the

turnover. The Banking sector was the top contributor to the market turnover (due to Commercial Bank, Hatton National Bank and Sampath Bank) whilst the sector index gained 0.31%.

The share price of Commercial Bank gained Rs. 1.80 (2.34%) to close at Rs. 78.80 while the share price of Hatton National Bank recorded a loss of Rs. 0.80 (0.70%) to close at Rs. 113.30. Furthermore, the share price of Sampath Bank appreciated by Rs. 0.20 (0.16%) to close at Rs. 126.40.

Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings and Hemas Holdings) whilst the sector index decreased by 0.97%. The share price of John Keells Holdings decreased by Rs. 2.50 (2.00%) to close at Rs. 122.50, while the share price of Hemas Holdings moved up by Rs. 0.80 (1.27%) to close at Rs. 63.60.