Colombo bourse continues profit taking | Daily News

Colombo bourse continues profit taking

Colombo bourse witnessed profit taking yesterday whilst ASPI remained over the 10,000 mark with the participation of mostly local investors. Thus, All-Share Price Index declined by 35.7 points (-0.4%) to close at 10,025.4 for the day whilst S&P SL20 Index also dropped by 19.6 points (-0.6%) to close at 3,217.7. John Keells Holdings, Commercial Bank, Lanka IOC and Aitken Spence LOLC Holdings, Sampath Bank and Expolanka Holdings remained as the top negative contributors to the ASPI during the day.

Further, the broader market’s total turnover stood at Rs. 3,335.2 mn against the 12- month average daily turnover of Rs. 4,158.6 mn, whilst the volume traded for the day was 103,331.8k against the 12-month average daily volume of 199,821.7k.

The top turnover generators for yesterday were Lanka IOC Rs.626.6 mn (+2.2%), ACL Cables Rs. 326.5 mn (+4.2), Expolanka Holdings Rs. 283.4 mn (-1.5%), Lankem Developments Rs. 201.3 mn (+3.2%), and Dipped Products Rs. 196.6 mn (+12.6%). Foreigners recorded a net inflow of Rs. 37.1 mn yesterday. Foreign purchases stood at Rs. 73.5 mn whilst total foreign sales amounted to Rs.36.4 mn.

From the economic front, Government revenue in the first half of this year has crossed the Rs. 900 billion mark to Rs. 918.5 billion, up from Rs. 714.5 billion in the corresponding period of last year. Further, Sri Lanka will make a virtual presentation to external creditors on September 23 updating them on a deal agreed with the International Monetary Fund and recent economic developments, advisors Clifford Chance said.

Top foreign buying counters MELS LKR. 9.9 mn, CIC LKR. 9.2 mn, BIL LKR. 8.1 mn, CCS LKR. 3.3 mn, KOTA LKR. 2.6 mn and BALA LKR. 2.3 mn whilst top foreign selling counters were COMB LKR. (5.5) mn, DIPD LKR. (3.9) mn, LDEV LKR. (1.9) mn, RICH LKR. (1.7) mn, LIOC LKR. (1.4) mn and RHL LKR. (0.7) mn.

Further, no off-board transactions were witnessed yesterday. Additionally, Lanka Credit and Business Finance, Lankem Ceylon, Office Equipment, Dankotuwa Porcelain and Ceylon Beverage Holdings were the top price gainers yesterday whilst Asia Asset Finance, Mahaweli Coconut Plantations, Colombo Fort Investments, Light House Hotel and CT Land & development were the top price losers. Further, Browns Investments, Richard Pieris & Co., Lankem Developments, Industrial Asphalts and SMB Leasing (Voting) were amongst the most actively traded stocks yesterday.

Courtesy Softlogic Stockbrokers


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