CSE continues to slip as foreign inflow picks up

Sri Lanka, Mar 22 (Capital Leads) – The Colombo Stock Exchange (CSE) continued its losses for the fifth straight session today amid sizable net foreign inflow driven by foreign investor interest in Ceylon Tobacco (CTC).

The broad market All Share Price Index (ASPI), losing 31.25 points reached 5,540.05 points, 0.56 percent lower than the previous session. Meanwhile, more liquid S&P SL20 Index edged down 16.37 points to stand at 2,724.94 points, a decline of 0.60 percent from yesterday.

The market witnessed five crossings adding up to 11.4 mn shares today contributing to 65 percent of total turnover. With 20.4 mn shares trading in total, the daily market turnover reached LKR522.7 mn (USD2.9 mn) as YTD average daily market turnover dropped to LKR683.5 mn (USD3.8 mn).

With 34 percent of total daily turnover, Ceylon Tobacco (CTC) made the highest contribution to the turnover as the stock dipped 0.43 percent driven by local selling. The stock also witnessed two crossings of 0.1 mn shares traded at LKR1,340.0 apiece generating 44 percent of off-board contribution to the turnover. John Keells Holdings (JKH) meanwhile, closing firm during the day, followed up with 14 percent as 0.3 mn of its shares traded off-board at LKR150.5 per share.

Furthermore, the Beverage, Food and Tobacco sector made up the highest sectoral contribution to the turnover with 48 percent ahead of 16 percent from Diversified Holdings.

The market witnessed net foreign inflow for the second consecutive session today as foreigners bought shares worth a net LKR141.2 mn (USD0.8 mn) narrowing the YTD net foreign outflow to LKR6.0 bn (USD33.6 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.

SUBSCRIBE TO OUR MAILING LIST
For Latest Articles, Financial Models and Research Reports
We hate spam. Your email address will not be sold or shared with anyone else.

Be the first to comment

Leave a Reply

Your email address will not be published.


*