Colombo bourse witnesses profit taking

Colombo bourse witnessed profit taking yesterday after a continuous upsurge of eight days whilst daily turnover recorded over Rs.8.5 bn mainly driven by local investors.

Thus, the All Share Price Index declined by163.9 points (-1.2%) to close at 13,117.1 whilst S&P SL20 Index also dropped by10.6 points (-0.2%) to close at 4,544.1.LOLC Holdings, Expolanka Holdings, Browns Investments, Senkadagala Finance and Vallibel One remained as the top negative contributors to the ASPI during the day.

Further, the broader market’s total turnover stood at Rs. 8,811.3mn against the 12-month average daily turnover of Rs. 5,014.8mn, whilst the volume traded for the day was 362,633.3k against the 12-month average daily volume of 256,028.3k. Capital Goods, Food & Beverage, Banks, Retail and Diversified Financials mostly contributed to yesterday’s turnover.

The top turnover generators for yesterday were Browns InvestmentsRs.1,127.9mn (-4.4%), Sunshine Holdings Rs.824.5mn (-7.6%), Expolanka Holdings Rs.755.2mn (-1.8%), Vallibel One Rs.536.1mn (-5.1%)and LOLC Holdings Rs. 342.7mn (-3.9%).

Foreigners recorded an outflow of Rs. 16.9mn during the day. Foreign purchases stood at Rs. 198.7mn which were approximately witnessed in Expolanka Holdings, Regnis Lanka, DFCC Bank, Browns Investments and Vallibel One whilst total foreign sales amounted to Rs. 215.6mn, assumed to be seen Softlogic Holdings, Sunshine Holdings, Union Bank, Three Acre Farms and Royal Ceramics.Further, off-board transactions were witnessed in LOLC Finance (Rs. 28.0mn) and Softlogic Holdings,(Rs.21.0mn) yesterday.

Additionally, Aitken Spence Plantations Management, Multi Finance, SMB Leasing (Non-Voting), Amana Bank and Lanka Aluminum Industries were the top price gainers yesterday whilst Hunters, Muller and Phipps, Blue Diamonds (Voting), Singer Sri Lanka and Ceylinco Insurance were the top price losers. Further, Browns Investments, SMB Leasing (Voting and Non-Voting), Amana Bank and Sunshine Holdings were amongst the most actively traded stocks yesterday.

Courtesy Softlogic Stockbrokers