Both indices end in red as HNB lifts turnover

Sri Lanka, Mar 21 (Capital Leads) – Indices of the Colombo Stock Exchange (CSE) slumped today for the fourth consecutive session while market turnover more than doubled from the previous session driven by both local and foreign investor interest in Hatton National Bank (HNB).

The broad market All Share Price Index (ASPI), losing 20.37 points slipped to 5,571.30 points, 0.36 percent lower from the previous session while more liquid S&P SL20 Index edged down 11.04 points to stand at 2,741.31 points, a decline of 0.40 percent.

Renuka Capital (KZOO) generated the only negotiated transaction for the day as 7.5 mn of its shares traded off-board at LKR3.60 contributing to 3 percent of the turnover. With 24.8 mn shares trading in total, the daily market turnover improved nearly three times from the previous session to LKR844.3 mn (USD4.7 mn), well ahead of the YTD average daily market turnover of LKR686.6 mn (USD3.9 mn).

Hatton National Bank (HNB) gaining 0.23 percent in value led the day’s turnover generation with 72 percent of contribution while the sector of Banks, Finance, and Insurance spearheaded the sector-wise contribution with 81 percent of total turnover.

Amid foreign investor interest in Nations Trust Bank (NTB) and Tokyo Cement (TKYO.X), the market witnessed LKR1.7 mn (USD9.6 k) worth of net foreign buying today, slightly contracting the YTD net foreign outflow to LKR6.1 bn (USD34.3 mn).

Disclosure: I/We have no investments in the stocks mentioned in the above article and don’t intend to open any within the next 72 hours. I wrote this article for myself, and it expresses my opinion. I/We receive no compensation, nor do I/We have any business relationship with any companies whose stocks are mentioned in the article.

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