CSE ends losing streak as turnover improves

Sri Lanka, Mar 14 (Capital Leads) – The Colombo Stock Exchange (CSE) ended the four-day long losing streak today with both indices recording gains driven by local buying.

The broad market All Share Price Index (ASPI) gained 25.83 points to close 0.46 percent higher than yesterday to reach 5,632.79 points. Meanwhile, more liquid S&P SL20 index edged up 19.98 points to stand at 2,771.28 points, a gain of 0.73 percent from the previous session.

Led by two crossings from Nations Trust Bank (NTB) and Distilleries Company (DIST), the off-board transactions comprising 9.5 mn shares accounted for 47 percent of the day’s turnover. Total number of shares traded stood at 17.7 mn shares as daily market turnover improved to LKR677.7 mn (USD3.8 mn), in line with YTD average daily turnover of LKR679.7 mn (USD3.8 mn),

With 41 percent of contribution to the turnover, Nations Trust Bank (NTB) led the day’s turnover generation as the stock gained 2.17 percent amid local investor interest. John Keels Holdings (JKH) gaining 1.27 percent followed up with 19 percent driven by local investor participation.

The sector of Banks, Finance, and Insurance made up the highest sectoral contribution to the turnover with 46 percent followed by 32 percent from Diversified Holdings.

The Nations Trust Bank (NTB), John Keels Holdings (JKH) and Distilleries Company (DIST) witnessed foreign outflow today as overseas investors sold shares worth a net LKR19.0 mn (USD0.1 mn) extending the YTD net foreign outflow to LKR5.9 bn (USD33.1 mn).

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