CSE ends marginally weaker; snaps three-week long net foreign selling

Sri Lanka, Oct 10 (Capital Leads) – The Colombo Stock Exchange (CSE) closed marginally weaker today as net foreign buying was witnessed in the market for the first time in fifteen sessions.

Both indices dip marginally: The broad market All Share Price Index (ASPI) shed 8.36 points to close the day at 5,872.02 points, 0.14 percent lower than the previous session, while more liquid S&P SL20 Index declined 1.98 points to reach 3,000.16 points, nearly 0.1 percent weaker than Yesterday.

Market witnesses net foreign buying in more than two weeks: Foreigners were net sellers for the first time in fifteen sessions today as they bought shares worth a net LKR15.9 mn (USD0.1 mn), contracting the year-to-date net foreign outflow to LKR6.6 bn (USD38.5 mn).

Low turnover continues amid lacklustre off-board contribution: The daily turnover, backed by only one off-market negotiated transaction today, stood at LKR230.5 mn (USD1.4 mn), less than one third of year-to-date average daily turnover of LKR769.3 (USD4.5 mn) as on-board trades made up 91 percent of the total turnover.

However, the number of shares transacted reached 31.9 mn, compared to 10.0 mn of yesterday as 25.6 mn of Nation Lanka Finance shares traded off-board at LKR0.8.

Sampath Bank leads turnover generation; falls 1 percent: Sampath Bank, driven by foreign selling, declined 1.0 percent in value during the day as the stock spearheaded the turnover generation with 22 percent of contribution, followed by C T Holdings which made up 14 percent.

Meanwhile, John Keells Holdings, making up 8 percent of the day’s turnover, ended the day firmer led by foreign buying.

Furthermore, the stocks in the banks, fiancé and insurance sector made the highest sector-wise contribution to the turnover, followed by diversified holdings which made up 25 percent.

Lanka Tiles and Nations Trust Bank (non-voting) were the highest gainers of the market today while, Anilana Hotels & properties and Tokyo Cement were among the most actively traded counters of the day.

 

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