Market dives below 10,000 despite healthy turnover of Rs.6 bn | Daily News

Market dives below 10,000 despite healthy turnover of Rs.6 bn

Colombo market continued the negative trend for the third consecutive day whilst ASPI dipped below 10,000 mark despite marking an impressive turnover with the participation of mainly foreign and local investors.

Thus, All-Share Price Index declined by 124.3 points (-1.2%) to close at 9,901.1 for the day whilst S&P SL20 Index also dropped by 32.2 points (-1.0%) to close at 3,185.6. Sampath Bank, LOLC Holdings, Richard Pieris, Richard Pieris,, Lanka IOC and Aitken Spence and Commercial Bank remained as the top negative contributors to the ASPI during the day.

Further, the broader market’s total turnover stood at Rs. 6,052.5 mn against the 12-month

average daily turnover of Rs. 4,151.7 mn, whilst the volume traded for the day was 124,112.3k against the 12-month average daily volume of 196,721.5k. Capital Goods, Diversified Financials and Banks mostly contributed to yesterday’s turnover.

The top turnover generators for yesterday were Expolanka Holdings Rs. 2.8 bn (+0.7%), Lanka IOC Rs.771.8 mn (+4.2%), CIC Holdings Rs. 155.3 mn (-1.2), Lankem Developments Rs. 149.6 mn (+0.6%), and ACL Cables Rs. 144.4mn (-3.1%). Foreigners recorded a net inflow of Rs. 2.4 bn yesterday.

Foreign purchases stood at Rs. 2.5 bn whilst total foreign sales amounted to Rs.42.9 mn. Top foreign buying counters EXPO LKR. 2,322.4 mn, CARG LKR. 56.7 mn, CIC LKR. 15.3 mn, BOGA LKR. 8.7 mn, TJL LKR. 8.1 mn and BALA LKR. 4.6 mn whilst top foreign selling counters were MELS LKR. (6.8) mn, AINS LKR. (4.3) mn, RICH LKR. (3.0) mn, CIC LKR. (1.4) mn, BIL LKR. (1.4) mn and AGST LKR. (1.0) mn. Further, off-board transactions were witnessed in Expolanka Holdings (Rs.2,280 mn) and Cargills (Ceylon) (Rs.54.2 mn) yesterday.

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