Sri Lanka, Feb 16 (Capital Leads) – The Colombo Stock Exchange (CSE) this week posted the highest weekly turnover for the year despite witnessing a decline of almost one percent.
Losing 54.84 points over the week, the broad-market All Share Price Index (ASPI) closed at 5,909.30 points by Friday, 0.92 percent lower than the week before. More liquid S&P SL20 Index edged down 29.85 points to reach 3,028.22 points with a weekly decline of 0.98 percent.
With 61 percent of contribution from off-board transactions, the weekly turnover stood at LKR5.8 bn (USD32.6 mn), its highest since the third week of December 2018. YTD turnover expanded to LKR20.7 bn (USD116.1 mn) while the total number of shares traded for the week reached 104.6 mn shares.
John Keells Holdings (JKH) made the highest weekly contribution of 40 percent to the turnover as the stock dropped 1.86 percent from the week before amid heavy foreign selling. Driven by local investor interest, Asiri Hospital (ASIR) and C T Holdings (CTHR) gained 0.91 percent and 0.12 percent respectively with the former contributing 14 percent to the turnover while the latter 13 percent.
Meanwhile, the Diversified Holdings led the sector-wise contribution with 59 percent to the turnover, ahead of the Banks, Finance and Insurance Sector which made up 16 percent.
The weekly net foreign outflow more than doubled from the previous week to reach LKR1.8 bn (USD10.4 mn), as YTD foreign outflow expanded to LKR5.2 bn (USD29.1 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.