Friday Dec 13, 2024
Friday Dec 13, 2024
Friday, 5 March 2021 02:31 - - {{hitsCtrl.values.hits}}
The Colombo stock market’s decline continues tumbling indices with low turnover, fuelling investor concerns.
The All Share Price Index (ASPI) was down 191 points or 2.66%, and S&P SL20 dipped by 68 points or 2.4%. Turnover remained at Rs. 3 billion.
LOLC was the biggest contributor for ASPI’s decline with 32 points, followed by 10 points each by John Keells Holdings (JKH), Carson, CTC and Browns Investments.
First Capital said the Bourse nose-dived to a two-month low on its fourth consecutive day of downfall.
“Index experienced an uptrend during the first 30 minutes of trading, thereafter, witnessed a strong downtrend, hitting its intraday low of 6,990, before closing at 7,002, losing 191 points,” First Capital added. It said the Capital Goods sector continued to lead the turnover for the session, closely followed by Diversified Financials and Food and Beverage sector making a joint contribution of 62%. Parcel trades in LION and COMB amounted to 9% of turnover.
NDB Securities said the ASPI closed in red as a result of price losses in counters such as LOLC Holdings, JKH and Carson Cumberbatch.
It said high net worth and institutional investor participation was noted in Lion Brewery, Commercial Bank and Dialog Axiata. Mixed interest was observed in Dipped Products, JKH and LOLC Holdings, whilst retail interest was noted in Vallibel One, Expolanka Holdings and Browns Investments.
The Capital Goods sector was the top contributor to the market turnover (due to JKH), whilst the sector index lost 3.38%. The share price of JKH recorded a loss of Rs. 3.50 (2.31%) closing at Rs. 148.25, whilst foreign holdings decreased by 462,507 shares.
The Diversified Financials sector was the second highest contributor to the market turnover (due to LOLC Holdings), whilst the sector index decreased by 5.15%. The share price of LOLC Holdings decreased by Rs. 29.50 (8.94%) to close at Rs. 300.50.
Browns Investments, Expolanka Holdings and Lion Brewery were also included amongst the top turnover contributors. The share price of Browns Investments lost Rs. 0.30 (5.45%) to close at Rs. 5.20. The share price of Expolanka Holdings moved down by Rs. 1.60 (3.58%) to close at Rs. 43.10. The share price of Lion Brewery closed flat at Rs. 540.00.
Market saw Rs. 421.3 million worth of foreign buying and Rs. 443 million in sales, resulting in a net outflow of Rs. 21.7 million, as against a net inflow of Rs. 2.5 million.
