CSE edges up as YTD foreign outflow exceeds LKR1 bn

Sri Lanka, Jan 14 (Capital Leads) – The daily turnover of the Colombo Stock Exchange (CSE) climbed to a more than three-week high today with both indices recording gains while YTD net foreign outflow crossed LKR1 bn.

The All Share Price Index (ASPI) edged up 13.75 points to close the session at 5,981.02 points, 0.23 percent higher than the previous session, while more liquid S&P SL20 Index increased 4.12 points to reach 3,040.73 points, a gain of 0.14 percent.

Making up 67 percent of the turnover, the off-board trades dominated today as Hunas Falls Hotels (HUNA) witnessed two crossings of 3.7 mn of shares traded at LKR187.0. Last week, the company announced the sale of 15.98 percent and 50.22 percent of its shares held by Amaya Leisure PLC and Carbotels (PVT) Limited respectively to Serenity Lake Leisure (Private) Limited.

Among more crossings from Lion Brewery (LION), Commercial Bank (COMB) and John Keells Holdings (JKH), the day’s turnover reached LKR1.5 bn (USD 8.2 mn), the highest for the year so far. HUNA led the turnover generation with 48 percent of contribution while JKH and COMB followed up with 29 percent and 11 percent respectively.

Meanwhile, Hotels and Travels sector dominated the sector-wise contribution to the turnover with 48 percent, as Diversified stocks contributed 38 percent.

Extending the YTD net foreign outflow to LKR1.3 bn (USD7.2 mn), net foreign selling reached LKR419.0 mn (USD2.3 mn) today, as JKH continued to witness foreign selling while LION gained 2.5 percent led by foreign buying.

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