CSE remains lacklustre

The Colombo stock market remained lacklustre with indices ending on a mixed note amidst low investor activity.

The benchmark ASPI was down by over 25 points or 0.2% and the active S&P SL20 inching up over one point. Turnover was Rs. 695 million involving 25.3 million shares. Foreigners continued to be net sellers.

Asia Securities said the ASPI closed in red mainly due to a sharp price loss in CTHR (-11.9%) which contributed 22 negative points to the index. However, notable price gains were recorded by SUN (+2.5%), DIAL (+1.1%), HAYL (+1.9%), and LMF (+1.3%) during the session. The breadth of the market was negative with 69 price gainers and 93 decliners.

Turnover was supported by COMBN (Rs. 134 million), JKH (Rs. 56 million), and MGT (Rs. 39 million).

Asia also said net foreign buying topped in JKH at Rs. 14.3 million and selling topped in COMB.N at Rs. 44.8 million.

First Capital said the bourse ended in the red zone for the second consecutive session. ASPI was highly volatile today fluctuating from green to red frequently as counters, as a mixed sentiment was observed amongst investors.

It said investors showed buying interest on Food & Beverage counters such as LION and SUN, whilst others chose to capitalise on higher prices of other counters. Primary dealer counters were observed to have a high selling pressure amongst investors following the release of their quarterly results. Further, the Hotel sector counters saw an increased interest today.

NDB Securities said high net worth and institutional investor participation was noted in Commercial Bank, John Keells Holdings, and Lion Brewery. Mixed interest was observed in Hayleys Fabric, Capital Alliance and Expolanka Holdings whilst retail interest was noted in Browns Investments, UB Finance Company and LOLC Finance.

The Banking sector was the top contributor to the market turnover (due to Commercial Bank) whilst the sector index edged down by 0.12%. The share price of Commercial Bank decreased by 90 cents to close at Rs. 88.60.

The Food, Beverage & Tobacco sector was the second highest contributor to the market turnover (due to Lion Brewery) whilst the sector index decreased by 0.34%. The share price of Lion Brewery recorded a loss of Rs. 21 to Rs. 950.

John Keells Holdings, Hayleys Fabric and Expolanka Holdings were also included amongst the top turnover contributors. The share price of John Keells Holdings closed flat at Rs. 188. The share price of Hayleys Fabric moved up by 10 cents to Rs. 39.70. The share price of Expolanka Holdings appreciated by 25 cents to close at Rs. 133.50.

Separately Access Engineering announced its interim dividend of 50 cents per share.