Market ends flat amid thin trading

Sri Lanka, Apr 18 (Capital Leads) – Thin trading volumes in the Colombo Stock Exchange (CSE) extended for the second straight session as stocks closed firm with net foreign buying continuing for the fourth straight session.

The broad market All Share Price Index (ASPI) moved 3.00 points higher to stand at 5,606.35 points, an increase of 0.05 percent from yesterday. Meanwhile, more liquid S&P SL20 Index dropped 5.39 points to reach 2,710.27 points, a decline of 0.20 percent from the previous session.

Pan Asia Banking Corporation (PABC) witnessed the only crossing for the day making up 12 percent of the day’s turnover while the total number of shares traded stood at 6.7 mn. The daily market turnover further improved from the previous session to reach LKR200.3 mn (USD1.1 mn), approximately a third of the YTD average daily market turnover of LKR593.5 mn (USD3.4 mn).

Ceylon Tobacco (CTC) made the highest contribution to the turnover with 40 percent of the daily turnover as the stock gained 2.64 percent amid foreign interest. With 1.9 mn shares trading off-board at LKR13.0 apiece, Pan Asia Banking Corporation (PABC) contributing 12 percent to the turnover dropped 2.94 percent.

Furthermore, the sector of Beverage, Food, and Tobacco spearheaded the sectoral contribution to the turnover with 40 percent followed by 33 percent generated from Diversified Holdings.

Driven by foreign investor interest in John Keells Holdings (JKH), net foreign buying extended for the fourth straight session as foreigners bought shares worth a net LKR2.8 mn (USD16 k), narrowing the YTD net foreign outflow to LKR6.0 bn (USD34.3 mn)

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