Shares end lower on losses in financials, industrials

Shares ended lower yesterday, dragged down by losses in financials and industrials as a result of price losses of John Keells Holdings, Sampath Bank and CT Holdings with the turnover crossing Rs. 1.4 billion.

The benchmark CSE All Share Index closed down 1.14% at 5050.90.

Similar behaviour was witnessed in the S&P SL20. High net worth and institutional investor participation was noted in Commercial Bank and Hatton National Bank. Mixed interest was observed in John Keells Holdings and Tokyo Cement Company whilst retail interest was noted in Access Engineering and Piramal Glass, NDB securities said in their market report. 

Furthermore, foreigners remained active closing as net buyers mainly due to foreign purchasing in Commercial Bank. Total foreign purchases accounted for 44.6% of the turnover. 

Foreign investors were net buyers, purchasing Rs. 661.9 million ($ 3.56 million) worth of shares, according to exchange data. Trading volume rose to 39.7 million from 37.1 million in the previous session, while equity market turnover was about Rs. 1.48 billion, Reuters reported.

During the week the ASPI and S&P SL20 lost 2.18% and 4.37% respectively while recording an average daily turnover of Rs. 1.5 million.

The Banking sector was the top contributor to the market turnover (due to Commercial Bank and Hatton National Bank) whilst the sector index lost 1.66%. The share price of Commercial Bank decreased by Rs. 0.60 (0.78%) closing at Rs. 76.50 whilst foreign holdings increased by 5,468,578 shares.

Furthermore, the share price of Hatton National Bank lost Rs. 0.60 (0.54%) to close at Rs. 110.70.

Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings) whilst the sector index decreased by 2.42%. The share price of John Keells Holdings moved down by Rs. 3.80 (3.18%) to close at Rs. 115.60. 

Piramal Glass and Tokyo Cement Company were also included amongst the top turnover contributors. The share price of Piramal Glass recorded a loss of Rs. 0.10 (2.78%) to close at Rs. 3.50 while the share price of Tokyo Cement Company declined by Rs. 1.60 (4.73%) to close at Rs. 32.20.

The rupee was last quoted at 185.8 against the dollar, 0.13% higher for the day compared to last session’s close of 186.05.