Mixed performance at CSE

The Colombo stock market produced a mixed performance yesterday with indices going in different directions amidst moderate turnover.

The active S&P SL20 gained by 1.5 points or 0.05% and the benchmark ASPI declined by a similar percentage or 5 points. Turnover was Rs. 815.6 million involving 36.8 million shares

Asia Securities said the indices turned range bound with the ASPI moving in the range of 10,630-10,650. DIST (+3.8%), AGST (+6.6%), MELS (+3.5%), LMF (+2.6%), and AEL (+2.0%) recorded price gains during the session while SCAP (-3.2%), CALT (-1.8%), AMF (-1.9%), MGT (-1.0%), and AHUN (-1.6%) settled with losses. The breadth of the market was negative with 63 price gainers and 109 decliners.

Market turnover was led by JKH (Rs. 130 million), DIST (Rs. 73 million), and HAYL (Rs. 59 million).

Asia also said foreigners recorded a net outflow of Rs. 8.4 million. Net foreign buying topped in DIAL at Rs. 14.3 million and selling topped in JKH at Rs. 28.6 million.

First Capital said the ASPI behaved with greater volatility as investors showed both buying and selling interest equally throughout the day, causing ASPI to fluctuate frequently between red and green but finally ended at loss of 5 points to 10,638. The largest negative contributors to the index were CTC, HNB and COMB, whilst the largest positive contributors were MELS, JKH and RICH. The market saw increased volumes being traded on the Consumer sector counters: notably, DIST and LMF.

NDB Securities said high net worth and institutional investor participation was noted in John Keells Holdings and Hayleys. Mixed interest was observed in Lanka Milk Foods, Royal Ceramics and Expolanka Holdings whilst retail interest was noted in Agstar, LOLC Finance and Distilleries.

The Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings, Hayleys and Royal Ceramics) whilst the sector index gained 0.46%. The share price of John Keells Holdings increased by Rs. 1.50 to Rs. 191.50. The share price of Hayleys moved down by 40 cents to Rs. 76.50. The share price of Royal Ceramics closed flat at 

Rs. 29.50. The Food, Beverage and Tobacco sector was the second highest contributor to the market turnover (due to Distilleries and Lanka Milk Foods) whilst the sector index increased by 0.70%. The share price of Distilleries gained one Rupee to Rs. 27. The share price of Lanka Milk Foods recorded a gain of 60 cents to Rs. 23.60.